Transferring your money to blocked account in 1-2 days!

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There are numerous issues faced by students while transferring money to blocked account/university and these include,

  • apprehensions about the changing exchange rate
  • hidden charges by service providers
  • filling wrong information
  • Lack of transparency in the process etc.

Ever since fs2ym started helping students in their journey, we were constantly asked to recommend the best service provider for transferring money. Our search ended with InstaRem as the Singapore headquartered company provides the best exchange rate and has the best transparency. In this blog, we will take you through the step by step process of transferring money abroad with InstaRem. Consider an Indian student who got admit in one of the German university and is required to transfer 10236 Euro for visa purpose. Click here to open Inst

Step 1: Understanding how much you will be sending

Once the student enters the value of 10236 Euro in “They Receive”, he/she can see the exact amount (INR 793,334.63 for 10236 Euro) that need to be send. InstaRem currently allows a maximum of 10,000 USD for overseas education and therefore in order to transfer 10236 Euro, two transactions has to be made.


Step 2: Register / Sign up yourself as an individual

Step 3: Filling up your personal information

This process is fairly simple and is self-explanatory. Kindly note that the in this section referral code is asked and not the coupon code “FS2YM”. A student can use the referral code “PkWR1E” to get 400 InstaPoints while filling out this session.

Step 4: Document Uploading / FATCA Declaration

You will be asked to upload the relevant documents/ FATCA declaration in this session. For e.g. Pan card details for Indian citizens

Step 5: Profile Review & Verification

Once you have completed all the above steps, your profile will be reviewed and approved by InstaRem in a maximum of 48 hours.

Step 6: Adding your block account as Recipient

  • Select add recipient in the dashboard to add blocked account as a recipient
  • Select My Recipient: Individual
  • Country: Germany or Luxemburg , the country in which you opened the Blocked account
  • Currency : Euro
  • Name : Your name as per given in the blocked account
  • Nick Name: You can put your own short name or first name
  • Purpose: Overseas Education
  • Relationship: Self
  • Bank account details: Once you enter your IBAN (as given in your blocked account opening statement), BIC and Bnak name are automatically filled.
  • Select the recipient country as Germany/Luxemburg
  • Address:In this part u can mentioned the Blocked Account Bank Address as given in your blocked account confirmation letter
  • In the UNIT Number part type 01
  • Fill in your Indian mobile number and email ID

Step 7: Transfer the amount to blocked account

USE  COUPON CODE “FS2YM” and get Rs 700 discount for your first transaction.

Since the maximum limit is 10000 USD in InstaRem, we need to make two transactions.

More links for read,

  1. Opening a blocked account
  2. How to fill TK Health Insurance Application?
  3. Coracle Blocked Account Application

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