Let's Talk #1: Instarem Registration Process

If you don't already know, I was transferred to Singapore by my company to be an assistant, more
like doing administrative and a little bit of accounting work here and there, or maybe a little all over the place, if I have to describe my role that is. It literally is all over the place, and unfortunate as I have ever been it is a role with very little supervision, nothing new there. I prefer a much more supervised role, one with mentor guiding me but obviously not so much so that they are holding my hand (figuratively speaking, of course) every step of the way. However, I am not here to discuss about my job or roles within the organization.

I am here to share my experience with Instarem.

What is Instarem? 
Instarem stands for Instant Remittance. It is one of the few sites that you can use to transfer money abroad. In terms of cost, I believe they are cheaper than using bank transfer or Western Union.

How do you rate their service?
Honestly, I did not have one of the best experience using their service - from the registration process up to the money transfer. It was a total nightmare for me, especially given the fact that I was desperate. 

Registration process 
What seems like a simple and straightforward process turns out to be a complete and utter nightmare for me...

It can't get any simpler and straightforward than this right? Wrong.

Upon entering your email and desired password, you will be asked to select the type of account you want, mainly individual and corporate.  As shown below:-

Since I will be using it for my personal use, I chose Individual.

Once that has been settled, you will be brought to the following step, whereby you're to pick your residency. Currently, it is only available in four countries, namely Australia, Hong Kong, Malaysia and Singapore. They have just launched their service in Malaysia, therefore it should be noted that their service is restricted to users in Selangor, Negeri Sembilan, Kuala Lumpur, Cyberjaya, and Putrajaya only, at the moment.

Once you have selected your residency, you will be prompted to fill in the following form:-

Second thing to take note is that your address must match that of your Driver's License, or Bank Statement, or Utility Bill. 

And if you want a referral code, you can use mine, which is SERENAEEYINK53305. 
Third thing to take note is that in order to qualify for their Client Referral Bonus of $20.00, your referee must transfer a minimum of $500.00 in their first transaction, and there will be no bonuses from their subsequent transfers.

Once you have completed the form and clicked on Submit, you will be prompted to enter the One Time Password (OTP), which they will send to your registered mobile number. 

And guys, that is where the uncomplicated signing up ends.

The next part of the registration is where it took both Instrarem and I, days to complete my registration and for my account to be approved, which was a frustrating process on my end. However, do keep in mind that all these could have been avoided if I have stayed in Singapore for a longer period of time, or that they were more acceptable on the types of document they accept as a "proof of address". One being a letter from my employer to state my address, this usually are accepted by banks, as a result, I do not see a reason as to why they don't accept it.

What you should take note of my situation while signing up with Instarem were the following:
1. I have just been relocated here, for less than a month.
2. I have just opened a bank account for less than two weeks upon trying to sign up with Instarem.
3. I was using a prepaid mobile number. Also, bear in mind that it is not easy for Work Permit pass holder in Singapore to sign up for plans with any telco here in Singapore. They do require proof of address, and not to mention $200.00 deposit, even if you were to sign up for just the plan without a phone. *rolls eyes*
4. I am living in an accommodation that is provided to me by my boss. So, ultimately, I do not have any sort of rental agreement, nor are the utility bills billed to me.
5. My letters from MOM are all issued to my company's address, and do note that they only accept residential address.  Refer to the image below:

There are three steps in which you will have to go through to verify your identity:-
1. You will be asked to upload your NRIC (for Singaporean) or FIN (for Foreigners).

 

2. You will be asked to upload either your Bank Statement (with your address), or Utility Bill, or Government Letter. The address should match the one you used to fill up the form earlier.

And as mentioned, here was where I struggled. The only document I had to proof my address was the one provided to me by my company's HR, which was used to open my bank account. Up to this very day, I do not understand why won't they accept this letter. I mean, if a bank accepts it, why can't they? After all, the company's name is clearly stated in the FIN too.

3. You will asked to upload a selfie of yourself holding your NRIC/ FIN.

This was another hiccup that I faced, and I blame them wholeheartedly. Yes, you read that right, wholeheartedly. They want a clear picture of your face along with your NRIC/ FIN, in which the details on your NRIC/ FIN should be readable too. It wouldn't have been a problem, if they didn't limit the size of picture to 5MB. In the end, they requested me to email it to them and continued the verification process from there onward.

It took a total of eleven days for my account to be approved. Once your account has been approved, you will received an email as per below:

I did not expect this post to be so long but since it is (I'm sorry for being very detailed regarding the registration process), I will do a second post regarding their transfer process.