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How to transfer money to India

Find the cheapest* way to send money from anywhere to India in our guide.

The table below lists some of the best* services you can use to send money to India. Sort through different services using the table headings and click 'More' to read a review of the product, or 'Go to Site' when you're ready to transfer money. You want to use the best* service for your needs so it's cheaper to send funds abroad. Your recipient can also receive more if you choose a provider that offers great rates and low fees.

Compare easy money transfer options to India below

Rates last updated August 19th, 2017
Name Product Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received Description
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply
Exclusive: World First International Money Transfers
AUD 2,000
1 day
Online, Phone
Exclusive offer: $0 transfer fee and competitive rate
The transfer rate displayed is exclusive to users for their first trade only.
Exclusive: OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering exclusive exchange rates and $0 transfer fee on all transfers.
FC Exchange International Money Transfers
GBP 3,000
1 day
Online, Phone, Bank Account to Bank Account
No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent.
Compass Global Markets International Money Transfers
AUD 1,000
1 day
Online, Phone
Send money in as little as 24-48 hours to a range of countries with Compass Global Markets.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
Make your first transfer for free. Transfer money between 20 currencies, and schedule regular transfers.
Instarem International Money Transfers
AUD 50
1 day
Online, Phone
InstaReM is a simple, quick and cost-effective way to send money abroad with zero transaction fees
Exclusive: Sable International
1 day
Online, Phone, Bank Account to Bank Account
Exclusive offer: $0 transfer fee and Price Beat Guarantee
Quote "finder" when your Sable International account manager calls you - guaranteed to beat any competitors exchange rate.

Compare up to 4 providers

*The offers compared on this page are chosen from a range of products has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms "Best" and "Top" are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.The star ratings indicated on this page are from real users based on their feedback about the quality of this page. It is not representative of any product’s star ratings and should not be taken as a recommendation of any form of credit. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

Can’t find what you’re looking for? Have a TorFX currency expert contact you for free

After you've submitted your details, a TorFX consultant will contact you via the phone number you've provide for a free consultation. You will typically receive a response within one business day.

TorFX are international money transfer specialists and have an office based in Surfer's Paradise Queensland and have the AFS Licence number 246838. We will not collect your personal information unless it's necessary to provide the information, advice or service you've requested and, where possible, you'll be able to use our services anonymously.

If you have never transferred money before or have a large amount of money to transfer (like paying back an overseas home loan or receiving an inheritance), you may feel more comfortable speaking to a person instead.

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Definition: Best* money transfer service

There is no single best money transfer service, and the best service for you may not be the best for someone else. This is because there are many factors to consider when sending an international money transfer in addition to the exchange rate, including the transfer fees, the payment method, the speed of delivery and the level of customer service. One person may need to transfer money within 24 hours, while others may have no time frame, which may affect the exchange rate. You should consider a range of products when deciding which provider is most suited to your personal money transfer needs.

Definition: Cheapest*

There is one way to send money overseas that is guaranteed to be the cheapest. You may be able to find the cheapest transfer fee, but the exchange rate may not be as competitive, or vice versa. You may need to send money within 24 hours, while other people may have no time limit. You should always consider a range of products when deciding which provider is most suited to your personal money transfer needs.

How to transfer money from India to Australia with an international money transfer service

  1. Ensure that you have your recipient's full name and residential address (unfortunately PO boxes are not accepted)
  2. You will need your recipient's IBAN or bank account number. Or their SWIFT code or BIC Code, alternatively the full bank address
  3. Log into your money transfer account and initiate a transfer
  4. Select the country you're transferring to as "India"
  5. Enter the details you've collected of the person you are sending money to
  6. Select the transfer amount and set the currency as "INR"
  7. Confirm your transfer

Click to take a closer look at the providers who support the INR

Banks vs money transfer companies

Aryan sends money to India

Aryan owns a small clothing store in Chennai, India. Over the last few years he has seen a growing interest for Indian made clothes overseas, especially in Australia. He is now considering expanding his small business to Sydney, and have his wife export the products to him.

While looking into the visa and business licensing requirements for this venture, he decides to also look at ways that he can send his profits back home to his wife. He first checks the difference between using a bank and using a money transfer service. Consider the example below:

BankMoney transfer service
Transfer amountAUD$1,000AUD$1,000
Exchange rate1 AUD = 45.8022 INR1AUD = 48.06719
Transfer feeAUD$22 per transactionAUD$6.95 per transaction.
Amount received (in Indian Rupee)45802.23 INR47,733.12 INR
Transfer time3-5 business days1-4 business days
Difference of+1,930.89 INR

Rates correct as of 30 May 2017.

Conclusion: Aryan’s wife would receive 1,930.89 more Rupees if Aryan uses the money transfer service instead of the bank. Aryan will also save AUD$15.05 in fees on his end this way.

How do I send money to India from Australia?

With the large Indian population in Australia and the amount of trade between the two countries, you will find a number of providers and methods available when you need to make a money transfer.


Non banks

  • Money transfer services. You can send money to India using a range of dedicated money transfer services. Many of these services offer competitive rates, quick transfer times and a range of extra services, such as limit orders and forward contracts. You can compare these services above.
  • PayPal. You could set up two valid PayPal accounts to transfer money back and forth. A credit is needed to add money to your account, which you can then transfer to the second one. There is a fee per transfer with this service and there may be restrictions on the amount of money that can be sent.
  • Send a cheque in international currencies such as Euros or US dollars. When sending money to India from overseas countries you should ensure that the cheque is in recognised international currency, but this is one the slowest ways to send money. You should also provide solid proof to the bank you are sending from and the reason as to why you are sending the money to India such as a legal document demanding you to send the money to India. After providing the legal document, you need to provide the bank account details of the person you are sending the money to and the amount in your preferred international currency that you want to send.

How to compare your options when transferring money to India

When comparing services, look for the following features and rates to find the one that best meets your needs and that offers the most value:

  • Competitive exchange rates. While official rates are set, financial institutions have the right to make adjustments to cover their costs. How much of an adjustment is made will make a difference in the amount received. While 1,930.89 Rupees may not seem like much, once you start multiplying that by the number of times a month Aryan (above) will be sending money home, it becomes a large sum.
  • Little to no fees. The bank charges a standard fee on all transfers regardless of the amount. To compare money transfer options you will need to inquire about different cash amounts to see how much the fee is going to be.
  • A range of transfer methods. Depending on your circumstances, you may prefer a bank account to bank account transfer rather than a cash pickup.
  • Fast transfer times. There can be a considerable difference between the transfer times with banks and money transfer providers. For regularly scheduled payments the bank is an option, but when your recipient is facing an emergency, you will have to use a transfer service company.
  • Suitable transfer amounts. Some services will have a minimum and maximum dollar amount that can be sent with each transaction. Ensure that your transaction fits into the limits of any service you plan to use.
  • Reliable customer service. When transferring money frequently, you will want the peace of mind in knowing that there is an agent you can be connected with immediately if there is a problem with the pick-up.

Emergency cash transfers in India

An Australian travelling to India can also take advantage of money transfers services in the event of an emergency.

Transfer service company.

If you have money sent to you through a money transfer service you will first need to make sure that they offer a cash pick-up option, such as MoneyGram or Western Union. You will need to present your photo ID in order to pick-up the money.

Travel insurance.

It is advised that you purchase a travel insurance policy when leaving Australia for a holiday or business. Some of these policies have procedures in place to get cash to you if your wallet is lost or stolen. Make sure that you do obtain a police report under those circumstances for use when filing your claim.

Credit card insurance.

Major credit card providers also offer travel insurance as part of their plan. If you contact your credit card company using their emergency phone line, they will make arrangements to have cash sent to you while waiting for a replacement card.

Cash pickup locations in India

Below you will find listed a number of cash pickup agents in India where you could go to receive your money sent from Australia. These companies will ask for your photo ID as well as a reference number and the name of the sender.

Western Union

  • Chennai Bank of BarodaNo 15 Sskoil Street Mangadu

    Mangadu ChennaiChennai, Tamil Nadu 602 101
    Open Monday through Saturday 9 am to 7 pm Sunday closed.

  • Canara Bank Niot Campus Narayanapuram PaLlikarani Kancheepuram

    Chennai, Tamil Nadu 601301

    Open Seven days a week from 9 am to 7 pm

  • Delhi - Arora Business Centre58 Shop in House No. 158G F Village Moti Bagh li

    New Delhi, Delhi 110021
    Open seven days a week from 7 am to 9 pm


  • Chennai Indian Bank #52Madras-Bombay Trunk Road

    Burakayalakota, 517351
    Open Monday through Friday 10 am to 3:30 pm Saturday 10 am to 12:30 pm Sunday closed

  • IDBI Bank #441-AtreyapuramA14-20 Sandeep Building

    Atreyapuram, 533235


    Open seven days a week from 10 am to 4 pm

  • Delhi State Bank of Hyderabad

    Plot No. 74 Chachi BuildingSatnam RoadNew Delhi, 110051
    Monday through Friday 10:30 am to 4 pm Saturday 10:30 am to 1 pm Sunday closed.

  • PNB #184600 New Delhi Connaught Plot No. N#46Connaught Place

    New Delhi, 110001
    Open Monday through Friday 10 am to 6 pm Saturday 10 am to 1:45 pm

Tips for picking up cash in India

If you do have plans on visiting India, be advised that Department of Foreign Affairs and Trade (DFAT) recommends that Australians exercise a high degree of caution when travelling to India. If you need to go to an agent to pick up cash make sure that you don’t travel alone and that you are riding with a reputable cab company. Return straight back to your hotel and secure the cash before heading back out for sightseeing.

How to pick up a money transfer in India

If you decide that the bank option is the best for your situation then you will need to set up a bank account in Australia. If you like the money transfer option then you will need to keep the following in mind:

  • Identification. Cash transfer agents are careful when distributing money. The recipient will have to present a photo ID, where the name is an exact match for that on the transfer order.
  • Tracking code. A tracking code will be on the paperwork received when placing the transfer order. The recipient will have to be able to present that same number to the agent.
  • Amount sent. The agent will ask the recipient how much was sent. As the sender you will need to contact the recipient after the money has been sent and let them know the tracking code and amount sent.
  • Address. When placing the transfer order you may be asked to provide the city where the money will be picked up in.

Once the transaction has been completed you should hold on to the paperwork at least until you have confirmed your recipient was able to pick up the cash. You will need this receipt if the money was not sent as verification for your transaction.

With the large amount of monetary transactions being conducted between Australia and India daily, there will be a number of choices for transfer service companies and banks. Compare the options you find to make sure that your Australian dollar is getting you the maximum amount of Rupees possible.

Your complete guide to international money transfers.

A background: Australia and India

This large population creates a need to have secure methods of sending money to India. Not only for personal reasons, but the amount of trade between the two nations necessitates this as well. The Australian Department of Foreign Affairs and Trade (DFAT) recognises that the growth of trade between Australia and India has been remarkable over the last decade, showing an increase of 24% from 2008 to 2009.

In March of 2014 it was reported that Australia had exported $111,597,501.61 AUD in goods and services to India, while receiving $22,437,984.73 in exports from the nation. This amount of trading requires safe and reliable methods of currency transfers. Migrants from India are one of the fastest growing populations in Australia. As of 2012, India became the largest source of permanent immigration into the country, making up over 15% of the entire migration program. You will find the largest concentration of these migrants making their new home in New South Wales, Australia.

International Money Transfer Offers

Learn about our information service
TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply

Exclusive: World First International Money Transfers

Exclusive offer: $0 transfer fee and competitive rate
The transfer rate displayed is exclusive to users for their first trade only.

Exclusive: OFX (Ozforex) International Money Transfers

Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering exclusive exchange rates and $0 transfer fee on all transfers.

FC Exchange International Money Transfers

No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent.

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6 Responses

  1. Default Gravatar
    kumarApril 12, 2016

    want to send money to india.
    want to know which is the best and cheapest way to send.
    like i have NRE account of punjab national bank.

    • Default Gravatar
      HarryApril 12, 2016

      Hi Kumar,

      Thanks for your question.

      You can compare the ways to send money to India by clicking here. is a financial comparison website and as such we cannot provide specific banking advice. If you want advice specifically from your bank, we recommend getting in touch with Punjab National Bank.

      I hope this helps,


  2. Default Gravatar
    April 2, 2015

    my son in Australia wants to send money to me. what is the best way and how much it costs

    • Staff
      ShirleyApril 7, 2015Staff

      Hi Alate,

      Thanks for your question.

      Please note that is an online comparison service and is not in a position to recommend specific products, providers and services.

      The fee will depend on which service provider you choose. You can see these in the ‘online transfer fee’ column in our comparison tool.


  3. Default Gravatar
    JasjitJuly 17, 2014

    There are several other alternatives available. Some of them are Aussie Forex, GMT Money,PFG Money, Money Pigeon Pty Ltd etc.

    These services may or may not charge a transfer fee but their exchange rates are way better than others.

  4. Default Gravatar
    PeteDecember 15, 2013

    I truly appreciate this post.

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