InstaReM launches free money transfers for HK users

Singapore-based money transfer provider InstaReM is introducing free money transfers exclusively for users in Hong Kong.

InstaReM, a Money Services Operator licensee in Hong Kong, is running this campaign until end of April 2017.

By offering interbank rates directly from the exchange rates provided by Reuters.com, InstaReM will charge zero margins. InstaReM also doesn’t charge any handling or transaction fee for money transfers as a rule.

“We are keen to introduce our new way of money transfer to Hong Kong residents. We feel remittance services should be easier, quicker and more cost effective. Traditional services are costly. InstaReM enables individuals, SMEs, and financial institutions to send across payments at the lowest possible cost and fastest possible time,” said Prajit Nanu, InstaReM co-founder and CEO.

InstaReM also provides a separate service to help corporations and SMEs to make bulk payments to its payees in the quickest possible time.

Individual users can sign up with basic personal information, with a simple upload of valid HKID copy and residential address proof on www.instarem.com. Upon verification, users could immediately perform money transfers online. The payees will receive the exact amount in the designated currency on the same or next business day.