Instarem: How to send funds to (MCO) App [App Walkthrough]

Latest update: 08/01/2020

Note: As of 16th of Dec 2019, direct SGD top up via XFERS to the app has been enabled. Instarem is not the most friendly and cheapest way to top up. Click here to go to CDC’s blog for more info. Do note of the new limits as shown in the diagram below.

xfers holding and spending

The most challenging thing for new-to-cryptocurrency users is the fund transfer process. Existing ways often involve having lengthy ID verification processes. After that, fees alone can be a killer. Fees can easily range from 1% to 3.5% (if you use a credit card). There is also the trading spread, and currency exchange rates to deal with.

Today, I’ll introduce you to: INSTAREM The transfer fee ranges from 0.25% to 1%. My experience? I was charged $3.05 for a $1,000 transfer. That’s 0.3%. I’m not going to explain what Instarem is, the official website will explain itself in detail. If you’re new to Instarem, feel free to use my referral code  HG997d  for 400 free Instapoints.

This post is a walkthrough for users who want to transfer their funds from their banks to the App.

There are two parts. The App portion and the Instarem portion. Quite a bit of work was involved into putting this App walkthrough together. I hope it’ll be beneficial for you!

I started on 12th of June and my funds arrived on the 17th of June.  According to the  staff and MCO community, the funds take about 3 business days to arrive. After that, it’s much quicker. This is to assure you that the funds will arrive if you’ve followed the steps closely!

The EUR is reflected in the “Home” page
The Cryptocom staff are very responsive and helpful!

CRYPTO.COM APP Walkthrough:

STEP 1: In the App, click on wallet -> deposits -> Set Up Account

MCO step 1


STEP 2: Select EUR (EEA banks) and then click next

MCO step 2

STEP 3: Agree to the T&Cs and press “Get Started”

MCO step 3

STEP 4: The details can be found at the following page. You’ll need the IBAN and BIC/SWIFT CODE

MCO Step 4

INSTAREM APP Walkthrough

Download the INSTAREM App

Input my referral code [ HG997d ] for 400 free Instapoints (I get the same if i’m not wrong).
There are two other simpler steps before this that needs no explanation.

STEP 1: If you’re Singaporean, click on “MyInfo” and log in using your Singpass. You don’t need to do further identity verifications after this

Step 1


STEP 2: Input send amount and Select “EUR”Step 2

STEP 3: Fill in the details. All you need to do is to fill in the IBAN code. The rest of the bank info will auto generate. This can be found under the App under “deposits”

Step 3

STEP 4: Input your own name if sending to self. If Transferring to app, put “Transfer to own account” as the purpose. Click PayNow (For Singaporeans) or Bank Transfer if you don’t have PayNow set upStep 4

STEP 5: PayNow has a UEN number. Input that or use the QR code

Step 6


The funds take a few working days to arrive according to MCO community members (Special thanks to Luis for walking me through this). After that, it should be far quicker.

3.05 SGD. Very reasonable fees

When your funds arrive into the app, you’ll see that your EUR Deposit is confirmed. You can then start to purchase various cryptocurrencies. As always, purchase in small lots to avoid paying extra due to the trading spread.


Like or comment if this has been helpful for you! =)





  1. Good Day,
    I read with interested and has used the referral link you provided to open an account with crypto. As advise, u do mention one can utilized the free green card to experience it. I will like to know what can I utilized the card.


    • Hi Darren, I’m not sure if you’re referring to the MCO Jade Green card. It requires 500 MCO to be able to utilise the benefits. MCOs can be bought on various cryptocurrency exchanges and from the app itself.

      If you haven’t already signed up, here is my free USD $80 Referral code: [ QF2ERS2NKP] or alternatively, you can use the link below:


      • Hi Sogood,
        Sorry I mistaken the free blue card to green card. I refer to the below,
        “Just sign up for the free blue card with the code [ MRXVZSEBRE ] on the Apple or Android App store and you’ll get $80 USD ($120 SGD) which will unlock in 3 months for you to freely spend.”
        So with the account open, I just need to sign up for the free blue card and wait for three month to freely spend the $80?
        Thanks for the advise 🙂


      • Yes, the midnight blue is completely free, and signing up using my ref code will give you $80 USD which unlocks after 3 months. Cards are only available in Singapore at the moment.


  2. Hi, is there a need to indicate anything under Notes? How does the receiving bank recognise that the transfer belongs to you? Unless the IBAN (actually in the newer version of the app it shows SEPA instead of IBAN) is unique to me? Thanks.


    • Hi Momo, I’m not too sure about that. Alternatively, you might want to contact Cryptocom’s App staff (Home > Settings > Contact Support).

      They might be able to answer your queries better.


  3. Hi good sir, I’ve just started a crypto app and instarem account with the intentions of subbing for the MCO Card. I’ve created accounts on both apps and already transfer some funds over in USD via my ocbc a/c and awaiting for approval on compliance. However I am unsure how to work on linking the Crypto app over that when the funds are confirmed that it will be injected into my crypto account accordingly. Ive attempted your “STEP 1: In the App, click on wallet -> deposits -> Set Up Account” onwards to link it via IBAN but i think your guide is outdated to the latest app changes and also I am unable to find the link to do so. Kindly help me on how i should proceed on from here as I am afraid once the Instarem funds i injected from my bank process through it won’t be able to be transfer over to the crypto app to subscribe for the MCO card.


    • Hi Jeremy, thanks for reaching out. I perceive that you’re likely from Singapore since you use OCBC as your bank. If you haven’t transferred, don’t Instarem can be pretty confusing. As of yesterday 16th of December, direct top up into the crypto com app via Xfers has been enabled. Go through that instead!


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