Outline ·
[ Standard ] ·
Linear+
FOREX: Instarem v BigPay v Transferwise, True as at 6/7/2020
|
SUSTOS
|
 Sep 15 2020, 09:32 PM
|
|
One question for Instarem users.
I performed a transaction to transfer MYR to SGD (my SG bank account) today, but then when I login to Instarem, I could no longer transfer HKD to MYR/SGD anymore.
The currency to be converted is fixed at MYR and can't be changed. Is this normal? As I have bank accounts in SG, HK and Malaysia, I will deal with currencies in HKD, SGD and MYR often, so being able to convert SGD/HKD into the other currencies is important for me.
Is there any way to solve this issue?
Thanks for help, sifus.
This post has been edited by TOS: Sep 15 2020, 09:33 PM
|
|
|
|
|
|
SUSTOS
|
Sep 16 2020, 04:22 PM
|
|
|
So, TW offers transfer from multiple countries to multiple countries?
|
|
|
|
|
|
SUSTOS
|
Sep 16 2020, 09:02 PM
|
|
|
QUOTE(Ramjade @ Sep 16 2020, 06:10 PM) Yes. But you can try World first world remit if you have a HK address. HK address not permanent, as it's my university hostel's address which only lasts for 3 years more for me, I don't want to transfer from an invalid address in the future and run into regulatory issues in HK. TW is okay, their rates+charges only 1 dollar or so less than Instarem, good enough for not-so-frequent transfers. |
|
|
|
|
|
SUSTOS
|
Feb 22 2021, 01:25 PM
|
|
|
|
|
|
|
|
|
SUSTOS
|
Apr 4 2021, 04:34 PM
|
|
|
QUOTE(Ramjade @ Apr 4 2021, 03:48 PM) Don't bother with instarem. Nowadays they have lousy rates. I have not used them for almost a year already cause they are more expensive Vs others (I get less foreign currency when I use instarem Vs others) So what is your new recommendation, sifu?  |
|
|
|
|
|
SUSTOS
|
Apr 4 2021, 06:02 PM
|
|
|
QUOTE(Takudan @ Apr 4 2021, 04:52 PM) The whole point of this thread is to compare the transfer rates offered by various parties everytime you want to make a transfer. Any fintech you can get your hands on means you should always add it to the list for comparison. There's no one true answer that is applicable forever because the rates are always changing, and some of them get promotional rates sometimes. I do have to agree with Ramjade that Instarem's rate has been disappointing though. Of all 3 of my transfers since last year, Instarem was almost always in the last place. I don't actually have Instarem account atm because i heard the procedures are kind of a hassle (interview at their branch and whatnot..?), but the good thing about them is that I can compare their rates without logging in. Wise and BigPay have to log in, and BigPay is on the phone only. Totally agree with you. Rates fluctuate all the time. My experience is kind of the opposite of you guys though. My Instarem rate is better than TW. |
|
|
|
|
|
SUSTOS
|
Jul 17 2022, 12:04 AM
|
|
|
QUOTE(markadams @ Jul 16 2022, 11:52 PM) Hi, I read Instarem provides discount on the first transfer. Someone said rm 200 - that's quite high! Is it still valid? And if so, how to get that discount? Besides, are there any other fintech that provides new user discount and are as good as Instarem? Thanks I found this: https://www.instarem.com/info/offers-coupon-codeAnyway, I noticed that in recent times Instarem's rates are worse than Wise and Sunway Money. Instead, they promote and market themselves more aggressively whereas I receive little to nothing from Wise/Sunway Money. Not aware of other service providers' discounts. But if you don't transfer money that often, don't get carried away by marketting tricks like promo codes. You won't use them that often and sometimes, waiting for a currency pair to move in your favour would give you more "discounts" than that from service providers like Instarem, Wise or Sunway Money. The promo codes only last for a while. Don't be penny wise, pound foolish. Choose a reliable service provider which gives you the narrowest spread from the interbank market rates after factoring in all "all-in" cost should be your prime consideration. Just my 2 cents. |
|
|
|
|
Quote
0.0181sec
0.65
6 queries
GZIP Disabled