Rates and fees verified as correct at 28 July, 2021. Other information correct at the time of writing. Advertiser disclosure.
One of the first things to check when comparing international money transfer providers is how competitive the exchange rates are. So, you’ll be glad to hear that because InstaReM offers live interbank rates (unlike many major banks who have a reputation for increasing their margins on the exchange rates they offer), you get better value for money.
TIP: Punch in how much you want to send into our calculator below, then choose your currency - and it'll crunch the numbers for you on how much the person at the other end of your transfer will receive!
InstaReM Rate 0.7329
|Currency||At today's InstaReM Rate, 1 AUD buys*||For 10,000 AUD recipient will get|
United States Dollars (USD)
|USD0.7329||USD 7,329||Go to site|
|EUR0.62||EUR 6,200||Go to site|
Great Britain Pounds (GBP)
|GBP0.528||GBP 5,280||Go to site|
Canadian Dollars (CAD)
|CAD0.9275||CAD 9,275||Go to site|
Chinese Yuan (CNY)
|CNY4.794||CNY 47,940||Go to site|
Danish Krone (DKK)
|DKK4.6349||DKK 46,349||Go to site|
Hong Kong Dollars (HKD)
|HKD5.7046||HKD 57,046||Go to site|
Indonesian Rupiah (IDR)
|IDR10625.8169||IDR 106,258,169||Go to site|
Japanese Yen (JPY)
|JPY80.8897||JPY 808,897||Go to site|
Malaysian Ringgit (MYR)
|MYR3.1022||MYR 31,022||Go to site|
Norwegian Krone (NOK)
|NOK6.5402||NOK 65,402||Go to site|
Philippine Peso (PHP)
|PHP37.0492||PHP 370,492||Go to site|
Saudi Riyal (SAR)
|SAR2.7624||SAR 27,624||Go to site|
Singapore Dollars (SGD)
|SGD0.9964||SGD 9,964||Go to site|
South African Rand (ZAR)
|ZAR10.8961||ZAR 108,961||Go to site|
Swedish Krona (SEK)
|SEK6.3539||SEK 63,539||Go to site|
Swiss Francs (CHF)
|CHF0.6736||CHF 6,736||Go to site|
Thai Baht (THB)
|THB24.1374||THB 241,374||Go to site|
UAE Dirham (AED)
|AED2.7053||AED 27,053||Go to site|
Is InstaReM right for you? Here’s a snapshot of the key details:
Delivery times: As we mentioned earlier, InstaReM will transfer your funds fast (unlike some providers who take up to three days, or even charge extra for an express service).
Transaction restrictions: While there isn’t any limit on how much you can transfer, InstaReM has a $50 minimum policy.
Low transfer fees: When you transfer money overseas via InstaReM, you won't be charged high transfer fees. InstaReM charges a transaction fee that can differ depending on what currencies and countries you're dealing with, ranging from 0.25% to 1%.
Complete Transparency: When you set up your transaction, you’ll be able to see complete details of your FX rate, transaction fees and the amount to be received by the beneficiary.
Customer support: Just like several other boutique IMT specialists we help you compare here at Mozo, InstaReM doesn’t have physical branches you can simply stroll into. But if you need help or have any questions, you can call its hotline on weekdays from 9am to 11.30pm and over the weekend from 10am to 2pm (AEST).
InstaReM solely focuses on international money transfers. It is committed to making the process of transferring money to contacts overseas more simple, quick and cost-effective for individuals and businesses.
For corporates and SMEs, InstaReM offers a MassPay platform to helps them make bulk payments to multiple beneficiaries in multiple currencies through a seamless global payments process.
To recap, here are some of the benefits of choosing this fast-growing company for all your IMT needs:
Visit InstaReM websiteGo to site
Whether you want to send cash to family or buy property overseas, it’s really quite easy doing it through InstaReM. Let’s run through the process...
1. Register: Build your customer profile on InstaReM’s website by typing in your name, address, birth date and employment status.
2. Identity check: Next, you’ll be prompted to provide your passport number and upload a snap of your driver’s licence, bank statement or utility bill (keep in mind that residential addresses detailed on your personal documents must reflect where you live).
3. Approval: InstaReM will review your application, and if you’re successful, the new account will open within a 36 hour period.
After those three small steps above have been completed, you can start sending money overseas! This is how you do it:
1. Sign-in: to your online account using the details InstaReM has provided you.
2. Type in: the amount and currency you want your funds converted into along with the recipient’s bank details.
3. Make a payment: Make a POLI payment (a third-party payments provider) or bank transfer (which may take longer).
Note: If you pick the POLI option, you’ll be redirected to its official site and complete the transaction there. Alternatively, opting for a bank transfer involves you manually typing in a reference number, plus InstaReM’s BSB and account number as you normally would with your day-to-day online banking.
4. Submit your order: then, you’ll be issued a receipt that you can keep for reference. Your transfer will typically take one business day from the time InstaReM receives the money.