You have to submit all kinds of documents, then they'll reject your transfer. Good thing I came across this site of all the bad reviews, I ended cancelling my transfer since it was taking way too long to process. Imagine your money just vanishing just like many people have reviewed here. No thanks. You may get a better rate but also a headache.
Don't bother, go elsewhere that is reliable.
After Verifying my identity, I made a transaction for more than three days now it is still processing. Now they are requiring for a passport. I don't have a passport did they expect everyone to have a passport
Please be beware and they might make you jump through hoop to get the money back once you start transfer if something does not happen at the stipulated times. Just started a conversation with their customer care to get money back, as apparently fund was not in their system at this specific time and they can't locate my fund. Hope they are not trying to scam me off 5000+$. Please be careful before you use this service or may be I am not savvy enough to use their system.
While their exchange rate might be good. They have terrible customer service. You cannot call, but have to do an online chat which they respond to very slow to issues. Did a transfer and failed to go through because of their problem which took 3 weeks to give me an answer why. They made me do a new transaction using the funds they were still holding with the current exchange rate (which was worse) instead of keeping the exchange rate I got when I initiated the transfer. They are not customer oriented and don't take responsibility for their problems and make things right with the customer.
InstaReM advertises it will approve an account within 24 to 36 hours. After 4 days, they were still requesting more unnecessary personal information, some of which had already been submitted. No ability to contact a real person. The "in Person" chat was never responsive to any of my questions in 2 encounters.
I am sending funds to my sun at a University in France. I could not load any of my correspondence with InstaRem,, but I tried.
Do not use this company. I complied with all online requirements, then wired 8K via to Instarem's chosen bank in NYC. (They then transfer it to the recipient's bank account). Instarem emailed the transaction was complete but then voided it, with no explanation and no notice to me. It's unclear where my money is, or how I get it back. Awful customer service, with no phone support. Answers to my online queries are largely unresponsive.
I initiated a transfer on Dec 30,2020. Till now I do not see InstaReM initiated any transfer to my other party. /however, my money is withdrawn from my account. I have been contacting them via mail and there is no proper way to reach them like a number. Even chat doesn't work or no one shows. It seems my money is stuck.
Batch No. BN*******
Instarem will convert your money transfer need into misery. This is how pathetic it can be. A pure disgraceful company that do not process money transfers for needy for weeks. Response system is BS and service is worse then it can be imagined. Disgracefully ludicrous company.
I transfer fund with instarem it's totally waste my time from 7 may they received funds with SBM india bank till 14 may there business day havent completed on telephonic conversation say can complete on 13 may but all waste they r bench of bull$#*! ppl.
They had deducted $100 from my bank when I opened the account but they claimed that my account was not approved but they still kept my money and refused to refund back. I will report this fake company.
Please stay away from this site, they are full of scammers with deceit, if care is not taken, you will lose fortunes to them and they will block you afterwards. I lost so much to these scam and they thought they could get away with my funds but i took actions on them after i reported my issues, i was able to get back my funds back and brought them to justice.
They ask for your social security number to even do business. Then when you do a transfer with your card, they cancel and require you to link your bank account to get a refund. This is a scam to steal your identity no doubt. Don't do ANY business with these scammers!
While they advertise exciting offers, it is an unbelievably horrible company when it comes to service. No way to talk to anyone and they have these stupid verification process and an extremely slow transfer window. The beneficiary couldnt believe it was taking 7 days for a transfer and thought i was holding the money back. They keep putting you in circles to get things done. I ended up cancelling all my transactions with these guys. Learnt my lesson the hard way. WORST WORST WORST COMPANY EVER
These guys are upto no good. I created an account and deposited with them and ever since I couldn't access the account. There is no mincing words. These guys are fraud. Almost lost my mind till i reached out to Finetouch Tech and they traced my money and got it back to me from those fraudsters.
Made a transfer on 19th of January.
Money taken from card.said was processing.after 3 days its still processing.
I contacted them in the chat...
Said would update me ASAP...
4th day review dept sent me a notification to produce a bank statement.invoices.reason for transfer...5th day nothing.6th day.tells me statement doesn't show what they wanted to see...I said its a bank statement with 1 months transactions...which u ask for!
I then said ok...cancel my transaction.refund me...further 2 days on chats.msgs...telling me to be patient...will update me URGENTLY!
HAHA...THIS IS A LYING SCAMMING COMPANY...
I've now contacted my bank to arrange a charge back...
As this SCAMMING COMPANY...will not refund me...
I really don't know how Google allows them to operate...
Please avoid avoid this SH.T COMPANY!
Instarem is rated D by the Better Business Bureau in the US. That rating is well deserved. I was sending money (only US$65 from to US to Hong Kong) to a friend for a charity fundraiser. Instarem called to verify the transaction a day later. I spoke with them and provided the requested information. They said the transaction was verified. Then they cancelled the transaction 3 days later without explanation--they literally gave no reason whatsoever. Just: "Sorry it's cancelled." Now 4 days later and I have to go find another transfer service. Instarem isn't reliable.
Guys please don't use their app, I have lost some money and after 2 weeks of repeated emails, there is no refund and irresponsible behaviour by their customer care, once I added comment on Facebook, they have deleted my comments and blocked me. But I will keep this information available to public.
They hold your money for weeks, though their site say's processing time is 2 days. Waste of your time following up with them. Customer care just have apologies for the delay with no proper insights of delay or provide estimated time. Sending my money through them was a nightmare.
As an NRI, I transfer money home in India regularly. Initially, I used services of some big names in money transfer and am ok to pay price for a service if it is reasonable. But I felt I was being ripped for every transfer. I had no choice until I was referred to Instarem by a colleague. I tried them out of curiosity. The transfer to my mom's bank account was quick, safe and was almost free of cost. I am extremely happy with Instarem's service and never had any issue with them in the last one year.
Worst money transfer option you may ever come across! Beware! Stay away from them. They get your money, ask you to verify its your account, ask you to get statement from bank and send then across(while most other providers do this digitally). I have been using Transferwise, SBI, WU. All with same account and they all do this without these crap. All this is for holding your money for few more days it seems
Answer: It takes 2-3 days for the exchanged money to get credited in your bank account
InstaReM has a rating of 1.6 stars from 48 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers dissatisfied with InstaReM most frequently mention customer service and bank account. InstaReM ranks 120th among Money Transfer sites.