How to Use Instarem Referral Code wn2gtq (2026)
Takes ~10 minutes · BNM-licensed · Reward: first transfer free · Best for Asia-Pacific · Verified Apr 2026
Instarem Referral Code — Quick Answer
wn2gtq
(all lowercase — case-sensitive)
Reward: First transfer free · BNM-licensed MSB · Best for India, Philippines, Indonesia · Real exchange rate
Sign Up on Instarem via Referral →Instarem vs Banks — Cost Comparison
Instarem fee (RM5,000 to India)
~RM10–15
Bank wire fee (same)
RM50–150+
Instarem exchange rate
Near mid-market
Bank exchange rate
Rate + 2–4% markup
Step-by-Step: How to Use Instarem Referral Code
- 1
Sign up on Instarem via referral link
Click the Instarem referral link from ReferralCodeMY. You can also sign up via the Instarem app (App Store / Google Play) and enter referral code wn2gtq during registration. Note: the code is all lowercase — wn2gtq.
Tip: Instarem is operated by Nium Pte Ltd, a Singapore-based fintech unicorn licensed in 30+ countries. In Malaysia, Instarem is licensed by Bank Negara Malaysia (BNM) as a Money Services Business (MSB). The platform is particularly strong for transfers to India, Philippines, Indonesia, Vietnam, and other Asia-Pacific destinations.
- 2
Create your account
Register with your email address and create a password. Select 'Personal' account for individual remittances. You'll also need a Malaysian mobile number for OTP verification.
Tip: Instarem offers both personal and business accounts. The business account (Instarem Business) is useful for Malaysian SMEs that need to pay overseas suppliers or receive foreign currency payments. Sign up with 'Personal' for individual overseas transfers.
- 3
Verify your identity
Instarem requires KYC (Know Your Customer) verification for compliance. Upload a clear photo of your MyKad or passport. Verification is typically completed within 1–4 hours on business days. You may also need to provide proof of address.
Tip: For large transfer amounts (above RM10,000), Instarem may ask for the source of funds documentation (payslip, bank statement). Prepare these in advance if you plan to send a large first transfer.
- 4
Set up your first transfer
Select Malaysia (MYR) as your sending currency. Choose the destination country and currency (e.g., INR for India, PHP for Philippines, IDR for Indonesia, USD for USA). Enter the amount. Instarem shows you the exact exchange rate and fee — no hidden charges.
Tip: Instarem uses a competitive mid-market-adjacent exchange rate with a small margin (typically 0.5%–1.5%). The rate is often better than banks (which add 2%–4% markup). For Asia-Pacific transfers, Instarem is frequently cheaper than Wise on a total cost basis.
- 5
First transfer is free with referral code
With referral code wn2gtq, your first transfer via Instarem has zero transaction fee. The fee waiver applies to the Instarem service fee — the exchange rate still applies normally. Subsequent transfers use Instarem's standard low-fee structure.
Tip: To maximize the free first transfer: send a larger amount on your first transfer rather than a small test amount. On a RM5,000 transfer, the Instarem fee is typically RM10–RM20 — that's what you're saving with the free first transfer.
Common Mistakes to Avoid
- ✗Don't enter the code in uppercase — wn2gtq is case-sensitive and must be entered in lowercase
- ✗Don't skip identity verification — Instarem cannot process transfers on unverified accounts
- ✗Don't confuse the service fee (what's waived) with the exchange rate spread (not waived)
- ✗Don't transfer a small test amount on your first transfer — maximize the free fee by sending a larger amount
FAQ
What is the Instarem referral code?
The Instarem Malaysia referral code is wn2gtq (all lowercase). Enter this during sign-up to get your first international money transfer completely free. The fee waiver applies on first transfer from Malaysia.
What countries can I send money to with Instarem from Malaysia?
Instarem supports transfers from Malaysia to 60+ countries including India (INR), Philippines (PHP), Indonesia (IDR), Bangladesh (BDT), Vietnam (VND), USA (USD), UK (GBP), Australia (AUD), Singapore (SGD), Japan (JPY), and more. Instarem is particularly strong for South and Southeast Asia transfers.
Is Instarem better than Wise for Malaysia?
It depends on the destination. Instarem is often better for Asia-Pacific transfers (India, Philippines, Indonesia, Bangladesh) where it has competitive rates and faster delivery. Wise is often better for transfers to Western countries (UK, Europe, USA, Australia) where it has deeper integrations. Many Malaysians use both — Wise for Western transfers, Instarem for Asia transfers. Both offer a free first transfer via referral.
How long does Instarem transfer take?
Transfer speed varies by destination: India (INR) typically arrives within 30 minutes–2 hours. Philippines (PHP) within 1–4 hours. Indonesia (IDR) within 1–2 business days. USA (USD) within 1–3 business days. Instarem shows the estimated delivery time before you confirm each transfer.
Is Instarem licensed in Malaysia?
Yes. Instarem is operated by Nium Fintech Sdn Bhd in Malaysia, licensed by Bank Negara Malaysia (BNM) as a Money Services Business (MSB). Nium (parent company) is headquartered in Singapore, holds regulatory licenses in Malaysia, Singapore, Australia, UK, USA, and the EU, and has processed billions in transfers globally.