InstaReM launched in Europe in 2018 after dominating the remittance market in Southeast Asia for 3 years. With the goal of "bottoming out the market," Instarem EU offers the lowest rates on money transfers from bank accounts in Europe to Asian markets.
Innovation Conceived from Inconvenience
The idea for InstaRem all started when Prajit Nanu was trying to book a resort for his friend's bachelor party in Phuket. Because the resort wouldn't accept foreign credit card transactions, he had to figure out how to get his money from India to Thailand. The inconvenient process of traditional international transfers costs more time and money. At the time, the easiest solution was to have someone pay the bill in Thai baht and reimbursed them with Indian rupees.
Knowing there had to be a better way, he started collaborating with Michael Bermingham who is an expert in Asian, EU and European compliance. Together they developed a unique payment platform for financial institutions, businesses, and individuals to send money overseas and across borders.
Doing Business in Europe
Authorized and regulated by the Bank of Lithuania, residents of Eurozone Countries can send money to over 40 countries. With transparent fees and mid-market exchange rates, Instarem EU has the lowest costs on its transfer routes. Exchanges are currently available in 18 currencies and take 1-3 days to complete. 60% of InstaReM's business is processing transactions for companies and institutions. Individual users can benefit from:
- Fast and secure international transfers
- Mid-market exchange rates
- 24/7 customer support and personalized client care
- Easy account opening
- Anytime, anywhere payment processing - online, by email or over the phone
Since bank details are required to set up an account with Instarem EU, register today with BankApply to simplify bank account opening in Europe. BankApply increases your chances of getting a bank account in Europe by approaching the right banks and saves time by filling and submitting the account opening applications on your behalf.