How to send money to India

How to send a fast, secure and low-cost money transfer to India from Australia.

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If you need to send money to India, all you have to do is follow a few simple steps:

  1. Compare some services that can change your dollars to rupees in our table below.
  2. Choose one that meets your needs and sign up for an account.
  3. Provide the details of your transfer, including the amount and who you want to send to.
  4. Confirm and pay. The money will be transferred to your recipient in India.

How much does it cost to send money to India? Compare your options

Use our comparison calculator to check the fees, exchange rates and transfer speed you'll get when sending money to India.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 1 1 day AUD 2.50 0.641 EUR
319
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
AUD 1 Same day AUD 3.99 0.639 EUR
317
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.633 EUR
315
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 200 1 - 2 days AUD 2.50 0.639 EUR
318
Exclusive: New customers sending over 500 AUD from Australia use code FINDER50 to get 50 AUD off. Pay zero fees on your first transaction. Valid till 31 December 2021. T&Cs apply.
Instarem offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details
AUD 1 1 - 2 days AUD 2.25 0.64 EUR
319
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details
AUD 1 Same day AUD 4.00 0.638 EUR
316
XE has fast transfers with low fees and a range of foreign currency tools. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What's the best way to send money to India?

There are three different options you can use, each with its own benefits and downsides.

ProsCons
Bank transfers
  • Convenient
  • Slow and expensive
Cash transfers
  • Very fast
  • Expensive
Money transfer services
  • Most cost-effective
  • Slower than cash transfers

Let's crunch the numbers: Sending $2,000 to India

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 transferCash transferMoney transfer service
Fee$12 + additional correspondent bank fees$23$2.50
Exchange rate1 AUD = 46.9500 INR1 AUD = 48.0078 INR1 AUD = 48.7445 INR
Transfer speed2-5 days5-15 minutes1-2 days
Amount receivedINR93,336INR94,911INR97,367
Overall
  • Slowest and most expensive
  • Fastest
  • Best value

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.

How long will it take to send money to India?

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.

Emergency cash transfer

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.

How to send money to India without a bank account

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.

What to watch out for

  • Mind the gift tax. Transfers over 50,000 rupees (about AUD$980, depending on the exchange rate) may be subject to a gift tax. This doesn't apply for transfers to "blood relatives" (including spouses, children, grandchildren, siblings and in-laws), or money transfers that are part of a wedding gift or inheritance.
  • Watch out for the tax on agent fees and commissions. When an NRI (non-resident Indian) sends money to India, a 12.36% service tax may be levied on the fees and commissions paid to money transmitting agents in India. This means that if your money transfer goes through an agent in India, it can cost more than other options. This could be most likely to apply to cash transfers.

More on the taxes involved when sending money to India

What to compare to get the best deal

Consider the following to find the best transfer for your needs.

  • Fees. How much is the transfer service charging for your remittance?
  • Transfer speed. If there's a deadline for the money, make sure it's going to arrive in time.
  • Payment options. Do you want to pay with cash or a credit card? You might have to look more carefully for services which let you do this.

  • Delivery methods. If the recipient doesn't have a bank account, you may need to look for a cash pick-up option.
  • Customer service. Is there customer service available to help you in case something goes wrong?
  • Exchange rates. How many INR are you getting for your AUD? This can make an even bigger difference than the fees, especially on large transfers.

Foreign exchange rates explained

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.

Today's exchange rate AUD to INR

1
0
Updated: 23 Oct 2021 03:35:54 UTC

Cash pick-up locations in India

Learn more about using the Indian rupee in India

Frequently asked questions

More guides on Finder

International Money Transfer Offers

Important Information*
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6 Responses

    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. Your comparison of the services will depend on where the money is coming from, the amount of money to be sent and the method of payment. Enter the amount on the comparison table and click on Calculate. If you are ready to send, click on Go to Site to head over to their website to register for an account and start your money transfer.

      I hope this helps,

      Harry

    Default Gravatar
    alateApril 2, 2015

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

      Avatarfinder Customer Care
      ShirleyApril 7, 2015Staff

      Hi Alate,

      Thanks for your question.

      Please note that finder.com.au 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.

      Cheers,
      Shirley

    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.

    Default Gravatar
    PeteDecember 15, 2013

    I truly appreciate this post.

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