Instarem Money Transfers

Find out more about Instarem and compare international transfer companies with Savvy.

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, updated on August 18th, 2023       

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Although Instarem is a relatively new player in the Australian money transfer scene, it has quickly made its name as one of the fastest and most reliable money transfer companies available.  

Savvy can help you make the best choice by comparing money transfer providers. We give you clear comparison information so you can quickly see which service is best for your needs. Start the comparison process here with Savvy so you can get your transfer underway today.  

*All product information is correct as of August, 2022.

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Instarem money transfer review

About Instarem

Instarem – which is short for instant remittances – was founded in Singapore in 2014 to provide instant online money transfers. It is now the trading name of Nium Pty Ltd, which is a major innovator in the money remittance market. It provides transfer services to over 170 countries and moves more than AU $4 billion around the world annually.  

Nium now offers money transfer services and solutions to individuals, as well as multiple business solutions for processing money internationally. Nium aims to ‘empower modern money movement’, so it offers a range of payment solutions including physical and virtual payment cards which can be used internationally. 

What products and services does Instarem offer?

Instarem offers a fast international money transfer service to the public through both an online platform and a mobile app. Once you’ve opened an Instarem account, you can transfer money almost anywhere in the world, either instantly or within a day. 

Payment methods 

You can pay for your Instarem transfer from your bank account with PayID, POLi or a debit or credit card. If you choose to use PayID, you’ll be sent a unique email ID that you will use to complete your transfer. 

Minimum and maximum transfer limits 

The minimum you can transfer with Instarem is $1 and the maximum when using a credit or debit card is $20,000. However, larger unlimited transfers are possible using a bank transfer, POLi or PayID. There may be transfer limits imposed by particular countries or banks which are out of Instarem’s control, so it’s worth checking if any limits apply to the particular country you wish to send money to.  

Speed of transfers 

Instarem will transfer your funds instantly if you pay for your transfer using PayID or a Poli transfer. All transfers should be received within a day, although if you’re using a debit or credit card to pay for your transfer, there may be delays caused by the speed at which your card provider processes payments. 

Money transfer services for business 

Instarem offers extensive business transfer options including MassPay, which is a platform that allows batch payments for companies who have a high volume of international payments. Batch payments can be scheduled to include multiple currencies. They offer a service called Rate Watch, which sends you an email when the exchange rate of a nominated currency reaches your nominated target rate against the Australian dollar. They also offer customised global payment solutions for businesses who frequently want to send and receive international payments.  


The fees charged to transfer your funds will depend on the amount you wish to transfer and the destination and currency of the transfer. Fees are based on a percentage of the transfer amount, which Instarem says will be ‘up to’ 1%.  

You’ll be given a quote when you first initiate your transfer so you can see exactly how much it will cost you before agreeing to the service. An additional fee of 0.3% of the transfer amount will be charged if you use a debit or credit card to pay for the transfer. 

Instarem’s website warns that using your credit or debit card to pay for the transfer will be treated as a cash withdrawal by your card provider. This means that additional fees may be charged by your card provider on top of the 0.3% that Instarem charges for using a card. 

Lock-in rate times 

From the moment you’re given a quote for the exchange rate which will apply to your transfer, Instarem guarantees that rate for a set number of hours. These are: 

  • POLi payments: 2 hours 
  • Credit card/debit card payments: 2 hours 
  • PayID and bank transfers: 36 hours 

If you make your transfer within these times, your exchange rate is guaranteed. If your transfer isn’t processed within these times, however, you’ll have to get another quote. 

How do I transfer money with Instarem?

You can transfer money after first registering for an Instarem account via their website. The full process is as follows: 

  • Create an account via the Instarem website 
  • You’ll need to provide your email address and country of residence to receive an email link to start the account opening process 
  • Follow all the prompts and provide the required details, including your name, address, nationality and phone number 
  • Once your account has been set up and verified, you’re all set to start your first transfer. Enter the details of the person you wish to send money to 
  • Provide your recipient’s account details, the amount you wish to send and how you’re paying for the transfer 
  • Once all the necessary details have been completed, send off your transfer 
  • You’ll receive a notification when your transfer has been completed and will be able to track its progress through Instarem’s website or mobile app 

The pros and cons of Instarem money transfers


Highly competitive exchange rates 

Instarem’s exchange rates are often the same as the mid-market rate, with no markup added to the rate you’ll receive for your transfer in certain currencies. 

Fast transfers 

If you’re after a very fast international money transfer, Instarem may be worth looking at, as most of their transfers arrive instantly or the same day they’re sent. 

Reward points 

Each time you use Instarem or refer friends, you earn InstaPoints. 100 InstaPoints can be redeemed for $2.50, which can be put towards reducing the cost of future transfers of more than $500. 


No cash pickup option 

If you’re after a service to deliver money in cash to be collected at the other end, Instarem isn’t for you, as they don’t offer a cash pickup service. 

Transfer limits 

Instarem has a $20,000 transfer limit using a debit or credit card, but larger transfers can be arranged by using a bank transfer, PayID or POLi. 

Mid-market rate not guaranteed 

Although your transfer will usually be sent at the mid-market rate, this isn’t guaranteed by Instarem and a markup may be added for some more remote countries or currencies. 

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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.

If you decide to initiate a money transfer with one of the providers listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the provider offering that product.

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