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Business Profile

Brand Development

Nium Inc

This business is NOT BBB Accredited.

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1

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Review Details

  • Brennen M

    Date: 06/23/2023

    Nium Inc is the parent ******* of ********* a global money transfer service. I signed up for an account with Instarem and made a transfer to an overseas account. Instarem approved the transaction, which was charged to my credit card. A day later, ******** contacted me saying that they are reversing the transaction. When asked why, I was given no reason and they would only say that the transfer had to be cancelled due to "internal policy". That was an inconvenience, but if it had been left at that, then I would not have any issue. I was able to make the transfer to the same account using Moneygram without any issues. However, my bank charged me a hefty fee for the transaction that Instarem first approved, and then reversed. Instarem is refusing to refund me for this fee, saying it is not their problem. I was expecting the fee for a successful transaction, but to be charged the fee for an UNSUCCESSFUL transaction is grossly unfair and feels like especially suspect behavior from Instarem because they refuse to even give a reason why the transaction was reversed after being approved. They even refuse to allow me to provide additional documentation for the transaction. There is clearly not an issue with the receiving account since Moneygram was able to successfully transfer funds to the account. If Instarem was going to not approve the transaction, then that should have been made clear before first processing the transaction and causing me to incur fees for a service that I did not receive.

Nium Inc is NOT a BBB Accredited Business.

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