Remitting Money From India To Australia: A Guide

There are several ways to transfer money from India to Australia. Some of the most popular services include Wise, Western Union, Axis Bank, WorldRemit, and Remitly. Each service offers different benefits, such as low fees, fast transfers, and secure transactions. Wise, for example, allows you to send money from an Indian bank account or your Wise account, and your recipient doesn't need a Wise account to receive the money. Western Union offers 24/7 online money transfers to Australia from India, while Axis Bank provides both digital and branch channels for remittance. WorldRemit and Remitly also offer secure and fast money transfers to India.

Explore related products

Money, Migration, and Family: India to Australia

$52.24 $54.99

The Remittance Market in India: Opportunities, Challenges, and Policy Options (Directions in Development - Finance)

$25.95 $25.95

Amazon eGift Card - (Instant Email or Text Delivery)

$5

Teller Transfer Ticket Debit/Credit Pack of 100 2 Copies Each Form

$24.7

Adams Money and Rent Receipt Book, 2-Part Carbonless, 5-1/4" x 11", Spiral Bound, 200 Sets per Book, 4 Receipts per Page (SC1152)

$7.26 $9.99

Remit

$1.29

Using a bank account, credit or debit card, or cash

Using a Bank Account

If you're transferring money from India to Australia using a bank account, you have several options.

Wise

Wise is a low-cost, secure online money transfer service that allows you to send money from India to Australia. You can pay using a bank transfer or use money already in your Wise account. You will need to enter the amount you want to send in Indian rupees, and Wise will convert it to Australian dollars. The recipient doesn't need a Wise account, but if they do have one, you can transfer the money in seconds.

Western Union

To transfer money to Australia from India using Western Union, you can use their website or app. You will need to register for a free profile and verify your identity. You can then log in and start the transfer process by entering the amount you wish to send and selecting Australia as the destination. You can pay using a bank account, and your recipient can pick up the cash from a Western Union agent location in Australia.

Axis Bank

Axis Bank offers online fund transfers to Australia 24/7. Both account holders and non-account holders can initiate transactions through the Axis Bank website or by visiting a branch. You will need the beneficiary's details, including name, account number, address, country name, bank name, and address. You will also need the SWIFT code and the Bank State Branch (BSB) number.

HDFC Bank

HDFC Bank offers an online money transfer service called QuickRemit, which allows you to transfer money from Australia to India. QuickRemit offers superior exchange rates and direct credit to the beneficiary's account. You will need to register and log in to initiate a transfer.

Using a Credit or Debit Card

If you prefer to use a credit or debit card to transfer money, there are several options available.

Western Union

Western Union allows you to transfer money from India to Australia using a credit or debit card through their website or app. You will need to register for a free profile and verify your identity.

Ria Money Transfer

Ria Money Transfer is another option that offers both website and app transfers. On the website, you can use a credit or debit card to transfer money, while the app offers this option for users in Canada.

Using Cash

If you wish to use cash to transfer money from India to Australia, you can use the following options:

Western Union

With Western Union, you can initiate a transfer online or through their app and then pay with cash at an agent location. You will need to bring a valid government-issued ID or phone number, as well as your receiver's bank and account details.

Ria Money Transfer

Ria Money Transfer also offers the option to pay in cash if you live near a Ria location.

It's important to note that sending cash through the mail is generally not recommended due to security concerns and potential delays.

Online money transfer services

Wise is an online money transfer service that allows users to send money from India to Australia. To use Wise, you need to sign up for a free account with an email address or a Google or Facebook account. You then enter the amount you want to send in Indian rupees, check the fees, and see the amount your recipient will receive in Australian dollars. You can pay with a bank transfer, PayID, POLi, or a debit or credit card. Wise will then convert the money and send it to your recipient's bank account or PayID account. Wise also has an app that allows you to repeat previous transfers and see how exchange rates have changed over time.

RemitMoney is another online money transfer service that allows users to send money from the US to India. It offers a simple, effective, and reliable service with competitive exchange rates. The company prioritises the safety and security of personal and transactional data.

Western Union is a reliable online money transfer service that has been in operation since 1851. To use Western Union, you need to register for a free profile. You can then transfer money to a qualifying bank account or a participating location for cash pickup. Western Union also has an app that allows you to start a transfer on your phone and finish it in-store.

Axis Bank is an Indian bank that offers online money transfer services to Australia. To use this service, you need to log in to internet banking and follow the steps to initiate a fund transfer. Axis Bank also has a mobile app that allows you to initiate fund transfers on the go.

When choosing an online money transfer service, it is important to consider the fees, exchange rates, transfer speed, security, and ease of use. It is also important to ensure that the service is legitimate and reputable.

Currency conversion rates

Banks and traditional providers often have extra costs associated with currency conversions, which they pass on to their customers by marking up the exchange rate. These additional fees can be avoided by using a money transfer service such as Wise, which provides the real mid-market exchange rate and can result in significant savings on international money transfers.

Wise allows you to send AUD to any bank account or PayID account in Australia, and the recipient does not need to be a Wise user. You can pay in Indian Rupees by bank transfer or use money already in your Wise account, and Wise will convert the currency and send it to your recipient, usually within seconds.

Another option for transferring money from India to Australia is Western Union, which offers online, in-person, and app-based money transfer services. Western Union has a vast network of agent locations in Australia, allowing your receiver to pick up cash close to home. They also provide a price estimator tool to calculate the cost of sending money, including transfer fees.

Axis Bank also provides a remittance service for transferring money from India to Australia, with both digital and branch channels available. Axis Bank account holders can initiate transactions across major foreign currencies via internet banking, while non-account holders can process transactions through Axis Bank branches. The bank's mobile app allows users to initiate fund transfers by registering the international payee and making the payment after 30 minutes.

Required documentation

When transferring money from India to Australia, the required documentation will depend on the service you use and the method of transfer.

Western Union

Western Union allows users to transfer money from India to Australia online, in person, or through their international app. While the specific documentation requirements are not outlined, users must register for a free profile to get started.

Axis Bank

Axis Bank allows users to transfer money from India to Australia through both digital and branch channels. Axis Bank account holders can initiate transactions via internet banking or the mobile app. Non-account holders can also process transactions through Axis Bank branches.

When transferring money through Axis Bank, you will need the following information:

• Beneficiary details (name, account number, address, country name, bank name, address)
• The SWIFT Code and BSB Number
• Additional supporting documentation depending on the purpose of the remittance (for transactions processed through the branch channel)

WorldRemit

To register for WorldRemit, you need to provide your full name, email address, mobile phone number, gender, birth date, and address. You may also be required to provide ID proof and a selfie image to verify your identity.

Remitly

Remitly does not specify the required documentation, but users must create an account using their email address through the website or the app.

Transfer fees

When transferring money from India to Australia, it is important to be aware of the various fees involved. Different service providers may have different fee structures, so it is always a good idea to check and compare before initiating a transfer. Here are some common considerations regarding transfer fees:

Flat Fee

Some money transfer services, such as Ria Money Transfer, charge a flat fee for their services. This means that regardless of the transfer amount, you will be charged a fixed price. For example, transferring money from Australia to India through Ria Money Transfer typically involves a flat fee plus the exchange rate.

Percentage-Based Fee

Some providers may charge a percentage of the total transfer amount as their fee. For instance, when sending money from India to Australia using Wise, you pay a small, flat fee of 1.40 AUD plus 0.54% of the converted amount. So, the fee increases as the transfer amount increases.

Zero-Fee Services

A few services, like Instarem, offer zero fees on your first transfer. They provide competitive exchange rates and claim to be transparent about their fees, showing you the exchange rate upfront. However, subsequent transfers may incur fees, and the cost and speed of transactions depend on factors like the destination, payment method, and chosen receipt method.

Wire Transfer Fees

If you opt for a wire transfer through a bank like HDFC Bank, you will typically need to pay a transfer processing fee and other charges. The fee structure may vary depending on the bank and the specific type of wire transfer requested.

Payment Method Fees

The method you use to pay for the transfer can also impact the fees. For instance, using a credit or debit card to fund the transfer may incur additional charges compared to using a bank account.

Exchange Rate Fees

While not always presented as an explicit fee, the exchange rate used by the transfer service can significantly impact the overall cost of your transaction. Some providers may advertise no fees but offer less favourable exchange rates, resulting in you paying more than expected. Always compare the exchange rates offered by different services to ensure you get the best value.

Frequently asked questions