What is InstaReM?
InstaReM is a cost effective, simple and quick way to transfer and remit money to countries worldwide. With InstaReM, you can send money from Australia, Singapore, Hong Kong, Malaysia, Euro Zone Countries, UK, India, Canada and the US.
How do I access it?
- Click on “”make a payment’” and select ‘InstaReM’.
2.This will redirect you to their website where you can then create an account and validate your personal information.
Validating your Personal Information
You will be required to validate:
- Personal Details (Name, Surname, Contact Number etc)
Once you have validated your personal details for your account you will be able to add a recipient. You should have your Prodigy Finance monthly statement on hand for adding us as a recipient as we list our banking details on page 2.
Adding Prodigy Finance as a recipient
If you are a verified user, you can log in and click on 'recipients' tab, or 'add a recipient' while setting up a transaction. If you are signing up, you can 'add a recipient' while setting up your first transaction. You can use the details provided to you on page 2 of your monthly statement for our banking details.
Sending Money (Making a Payment)
- The installment amount due / value you wish to pay should be completed in the currency of your loan, as below:
2. You will then be able to view the details of your transaction before initiating the payment instruction:
- You will then need to choose ‘Prodigy Finance’ as your recipient for the payment. Under the ‘Reason for Transfer’ you will need to select ‘Overseas Education’
- Under ‘Notes’ you will need to provide your loan reference number as stated on your monthly statement. It will begin with PDG...
How long does the payment take to reach Prodigy Finance?
The payment can take between 2 - 5 business days to be received by Prodigy Financedepending on where payment is being made from. Don't forget to use your loan reference number quoted in your monthly statement.
What is the maximum I can transfer with InstaReM?
Different countries have regulatory limits on outward and inward flow of remittances originating from or to the country. You can refer to their page on international money transfers limits in various countries for information pertaining to inward and outward remittance limits on your country of interest.