Instarem Business review for Malaysian businesses [2027]: Features, fees and more

Instarem Business lets Malaysian users send and receive international funds. Take a closer look at its fees and account features

Key takeaways

• Instarem Business supports sending international payments to 160+ countries and receive payments in eight supported currencies
• It charges no account opening or subscription fee, with standard fees of 0.65% for sending and 0.30% for receiving
• A multi-currency account like the World Account helps businesses hold foreign currency, collect marketplace payments and send international funds globally

Instarem is a digital cross-border payments provider that helps businesses send and receive international payments.¹ It supports sending payments to 160+ countries and receiving payments in eight currencies but only on an application and approval basis.^1,2 Users should note that sending money carries a standard fee of 0.65% (supported currencies are not publicly listed). Receiving international payments also carry a fee of 0.30%.³

This is an Instarem Business review for businesses in Malaysia covering its features and fees. It also explores a multi-currency account by WorldFirst, the World Account.

What is Instarem Business?

Instarem offers international transfers for businesses and individuals.¹ Instarem Business is its business account offering for SMEs and other registered businesses, including freelancers and sole proprietors.1 Businesses can also use Visa or Mastercard bank cards to make Instarem payments while earning applicable card rewards and 55 days of no-interest period.⁴

Quick look: Pros and considerations of Instarem Business

Instarem Business fees in Malaysia

*Fees checked in October 2026

Key features of Instarem Business

Send international payments

Instarem Business allows payments to overseas suppliers, employees, vendors and freelancers across 160+ countries.^1,4  Businesses can add a beneficiary, enter the transfer details and see the applicable exchange rate and fees before confirming the transaction.⁴

The service also supports salary payments for up to 1,000 employees in one transaction in multiple currencies.^4,6 Businesses can fund payments using Visa or Mastercard bank cards.⁴

Receive international payments

Instarem Business supports receiving USD, AUD, SGD, HKD, JPY, NZD, EUR and GBP.²  The receive service is available on an application and approval basis.²  Once approved, businesses share their Instarem account details with the payer and receive funds into their Global Collection Account.²

For Malaysian-registered businesses, funds received into the Global Collection Account are automatically transferred to the registered local bank account at midnight.⁵ This means the funds cannot be held in the account beyond the day they are received, and conversion happens automatically.⁵

Multi-user access and business features

Instarem Business allows businesses to create multiple users for their account, making it possible for different team members to access and use the account.⁷ It also supports business payments for payroll, supplier payments and intra-company transfers.⁴

API and integrations

API and accounting software integrations are not specified on Instarem Business’s Malaysia pages currently.

Who is Instarem Business for?

Instarem Business supports international payments for BPOs, logistics, technology, travel and Halal businesses, as well as companies handling payroll, invoices and intra-company transfers.¹ It can also support businesses paying overseas suppliers, vendors and partners across multiple countries.⁴

How to open an Instarem Business account in Malaysia

1. Sign up: Register with an email address and active contact number through the Instarem Business portal.
2. Submit business details: Provide the company name, registration country, business registration documents, stakeholder and primary account holder details, and registered business address.
3. Complete verification: Instarem reviews the submitted business and identity information as part of its KYC process.
4. Start transacting: Once approved, add beneficiaries and initiate international payments. The applicable rates and fees are displayed before confirmation.

The World Account: a multi-currency account for Malaysian businesses

WorldFirst is an international payments provider offering the World Account, a multi-currency account for businesses in Malaysia. The World Account supports receiving, holding, sending and converting funds in multiple currencies.

Funds received can remain in USD or MYR until the business is ready to use or convert them. The account also enables currency conversion between USD, MYR and CNH, as well as outgoing payments in these three currencies. Businesses selling through online marketplaces and payment platforms can additionally use the World Account to collect payouts from 130+ supported marketplaces and payment gateways.

Key features of the World Account 

• Receive USD and MYR through dedicated local receiving account details
• Keep USD and MYR balances without having to convert incoming funds immediately
• Exchange funds between USD, MYR and CNH
• Pay overseas suppliers, contractors and other business recipients in USD, MYR and CNH
• Collect payouts from 130+ marketplaces, e-commerce platforms and payment gateways, including Amazon, Etsy, Shopee and Stripe
• Pay suppliers on 1688.com through World Pay, the authorised international payment provider for 1688.com
• Set up Firm Orders for USD, MYR and CNH transactions to fix an exchange rate for a future conversion

FAQs

1. Is Instarem Business available in Malaysia?

Yes. Instarem has a Business offering for Malaysian businesses, including international sending and approved receiving services.¹

2. What currencies does Instarem Business support?

Businesses can send international payments to 160+ countries but what all sending currencies are supported is not specified.¹ For receiving, Instarem lists USD, AUD, SGD, HKD, JPY, NZD, EUR and GBP, subject to application and approval.²

3. Can I hold foreign currency balances in an Instarem Business account?

For Malaysian businesses, funds received through the Global Collection Account are automatically transferred to the registered local bank account at midnight and cannot be held beyond that.⁵

Sources

1. https://www.instarem.com/en-my/business/
2. https://www.instarem.com/en-my/business/receive/
3. https://www.instarem.com/fees/
4. https://www.instarem.com/en-my/business/send/
5. https://www.instarem.com/help-business/faqs-sme/payments-received-in-global-collection-account/
6. https://www.instarem.com/help-business/faqs-sme/bulk-payment-multi-currency-support/
7. https://www.instarem.com/help-business/faqs-sme/multiple-users-business-account/

This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.