- Send money online within minutes
- Large range of destinations
- Able to send to cash pickup locations
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If you need to send money to India, all you have to do is follow a few simple steps:
Use our comparison calculator to check the fees, exchange rates and transfer speed you'll get when sending money to India.
There are three different options you can use, each with its own benefits and downsides.
The table below shows the costs of using a bank, making a cash transfer and using a specialist money transfer service, so you can see how much of a difference there is when sending $2,000 to India.
This table uses real fees and exchange rates, current as of 21 March 2019.
|Bank transfer||Cash transfer||Money transfer service|
|Fee||$12 + additional correspondent bank fees||$23||$2.50|
|Exchange rate||1 AUD = 46.9500 INR||1 AUD = 48.0078 INR||1 AUD = 48.7445 INR|
|Transfer speed||2-5 days||5-15 minutes||1-2 days|
Banks are usually the slowest and most expensive choice for money transfers, while cash transfers are the fastest but cost extra. Money transfer services typically have the lowest fees and best exchange rates.
Banks can take up to a week to send money to India because your money might need to be transferred between multiple banks on the way there. Cash transfers are usually the fastest and can arrive in just a few minutes. Money transfer services aren't as fast as cash transfers, but will often be faster than banks.
If you need to send money to India as soon as possible, cash transfers might be the best option. Your recipient will often be able to pick up the money within just a few minutes, although they cost more than other transfers.
Cash transfer services are also useful if you or the recipient doesn't have a bank account. This is because you can just pay with cash at an agent location in Australia and the recipient can pick up the cash at an agent location in India, without needing to use bank transfers.
Consider the following to find the best transfer for your needs.
An exchange rate determines how much one country's currency is worth in another currency. When a currency is strong, it yields more money when exchanging it for a weaker currency.
If you want to get the best value for money, make your transfer when the AUD is strong compared to the INR.
MasterRemit allows you to transfer your money quickly in a range of currencies.
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TorFX guarantees to match any competitor's exchange rate. Conditions apply.
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Send money in minutes at competitive exchange rates with this Australian money transfer service.
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