Instarem’s Refer and Earn Referral Promotion – Terms and Conditions

Terms and conditions 

• Refer and Earn Referral Promotion (“Promotion”) is brought to you by Nium Pte Ltd. and its related Group entities (formerly known as Instarem Pte. Limited – “Instarem”). For more information about the Nium Group entities, please click here. Please read these Terms and Conditions before participating in this Promotion. By participating in this Promotion, you, as a Participant, and all the Participant(s) agree to be bound by these Terms and Conditions, and you satisfy all eligibility requirements as provided below 

Who can be a Participant in this Promotion? 

• To participate in this Promotion, you must have a registered Instarem Individual account. 
• This promotion is applicable to ‘referrer(s)’, an individual who has an approved Instarem individual account in Europe. 
• Only direct recipients of this promotional email are eligible for this Promotion. Eligibility for this Promotion is non-transferrable. 

Instarem’s Invite and Earn Promotion mechanics 

• The terms of the Promotion will apply to all the eligible referrers and referees who are registered and approved customers of Instarem. 
• A “successful referral” is one whereby the referee has completed his/her first transaction successfully, without any related cancellations, rejections or unpaid transactions within the campaign Period. 
• Only those transactions of referee(s) that are ‘Paid to Beneficiary’ (Transaction Status: Paid) as at the end of the Promotion Period would are eligible for the Promotion. 
• Referee(s) must open and verify their account (in accordance with the Instarem Terms & Conditions) before transacting. All transactions are subject to the Instarem Terms & Conditions. – https://www.Instarem.com/help-and-support. 

Promotion period 

• The Refer to Earn Referral Promotion will run from Tuesday, June 4, 2024; 00:00:00 Local Time until Wednesday, September 4, 2024; 23:59:59 Local Time. 

Promotion gratification 

For the Referrer: 

• The 25 EUR Instarem bonus will be valid for 6 months from the date of receipt. 
• The minimum transaction value for the referrer to avail the Instarem bonus would be 500 EUR. 
• Get an Instarem bonus for every friend that you refer who makes a successful transaction with us. You will be eligible for one Instarem bonus per successful referral. For e.g.: If you refer 4 friends successfully, you will be eligible for 4 Instarem bonuses. 
• A “successful referral” is one whereby the referred client has completed his/her first transaction successfully, without any related cancellations, rejections or unpaid transactions within the campaign period. 
• During this contest, a referral get rewarded for a maximum of 10 successful referrals. For eg.- If a referrer refers 20 referees, and 15 turn out be successful referrals, the referrer is eligible to earn rewards for 10 successful referrals only. 
• The bonuses can’t be clubbed and have to be used separately by the referrer. 
• Referrers will receive their Instarem bonus between September 15 and 30, 2024 
• Referral bonuses are non-transferrable. 

For the Referee: 

• Referee must use the Referrer’s referral code while signing up and may use only one referral code to sign up. 

• Referee must sign up and complete their first transaction during the campaign period i.e., from Tuesday, June 4, 2024; 00:00:00 Local Time until Wednesday, September 4, 2024; 23:59:59 Local Time. 
• Referee will get a special rate on their first transfer. View more details here. 

• Referee also gets 200 InstaPoints which they earn from Instarem’s existing referral programme: https://www.instarem.com/referrals-info 

Steps to Refer a friend 

1. A referrer has to log in and share his/her referral link with friends and family. On web – go to ‘Invite & Earn’ menu. On app – go to profile/My Account. 
2. Alternatively, copy and paste the personalized referral link from the marketing email sent to the referrer’s Instarem registered email ID and share it with friends and family. 
3. Referees sign up with the Referrers’ referral link. 
4. A referee needs to make their first money transfer with Instarem. 

Promotion exclusions 

• In case a Referrer has referred himself (he has created a 2nd account with his own details), it will not be counted in the referral total and such entries will be considered ineligible for the Promotion. 
• Instarem employees are not eligible to participate in this offer. 
• This Promotion is not applicable for corporate clients. 
• Transfers by new referred customer(s) to their referrer’s account would be considered as a quid pro quo and would not be eligible. 
• Transfers by new referred customer(s) of a referrer to a common account(s) would be considered as a quid pro quo and would not be eligible. 
• Failure to comply with any of these terms and conditions may result in the disqualification of the entry in the Promotion. 

Other terms 

• Instarem reserves the right to choose eligible entries of the Promotion and will not and does not have any obligations under any circumstances to explain the choice of eligible entries. 
• Instarem expressly reserves the right, at any time and without prior notice to add and/or alter, modify, change or vary all or in part, this Promotion or to cancel the Promotion altogether. 
• This Promotion is in no way sponsored, endorsed or administered by or associated with Facebook, or any other social media platform. 

Instarem is a brand operated by Nium Pte. Ltd. and its subsidiaries globally. In the European Economic Area, UAB “NIUM EU” is authorised as an electronic money institution (Licence No. 14 issued on 29 September 2017 by the Bank of Lithuania).