Today's cheapest money transfer service might not be the cheapest tomorrow. Find the one that's best-suited to your needs and preference by comparing the best performers on Monito's comparison engine over the past 30 days for transfers from Australia to India:

The Best Ways to Transfer Money from Australia to India

When you’re transferring money from Australian dollars (AUD) to rupees (INR), you want to keep your currency exchange fees to an absolute minimum. Monito helps you find the simplest, quickest, and most secure ways to convert your Australian dollars into rupees based on your specific needs. 

Whatever your situation, Monito is dedicated to minimizing your fees and saving you money. Whether you’re going on holiday in India, helping out your family and friends, or handling daily expenses, we’ll share the cheapest and best money transfer providers. That way, you save on transfer fees, and more rupees make it to your destination – making everyone happier!

You’re Probably Paying Too Much to Send Australian Dollars to India

Australian residents send around $2.8 billion AUD to India every year. Traditional banks, PayPal, and many currency exchange businesses charge unnecessarily high fees. Combined, these charges can add up to $140 million AUD in unnecessary fees every year — meaning that each of Australia’s 600,000 Indian residents loses an extra $240 AUD in transfers. 

What You Need to Know About Sending Money Internationally from Australia to India 

Sending money to India from Australia is fast and simple, but it’s good to keep some tips, tricks, and facts in mind when deciding how to make your international transfer. 

How You Get Charged When You Transfer from AUD to INR

There are three main ways you overpay when you transfer money internationally:

• Fixed Fee — this is a fixed AUD fee that banks and some other providers charge to convert and transfer money to India. It can be as much as $35 AUD.
• Percentage Fee — this is a commission that you pay on the total amount you transfer, which means that the more you send, the more you pay. These percentage fees can range from under 0.5% to 2% or more.
• Difference to Exchange Rate — this is where a currency provider offers a worse exchange rate than the standard exchange rate. This is what’s in play when for example, the standard exchange rate states that 1000 AUD is worth 49,300 INR, but a currency provider only sends 44,900 rupees to the beneficiary.

These fees can quickly add up, and your Australian bank will be one of the most expensive ways to transfer money. The way to save significantly on fees and find better offers is to use a specialist currency provider to send money from Australia to India. For example, sending $1,000 AUD to India will cost you just around $10 in fees with TransferWise, but over $40 in fees with NAB and over $80 in fees with ANZ. 

When Monito compares money transfer providers, we consider all the fees and recommend the ones where your Australian dollars go furthest while also letting you know who can make your transfer the fastest and give you more delivery options. 

Note that the least expensive and fastest ways to transfer money between Australia and India change over time and can vary depending on how much you send. The fastest provider right now might not be the fastest one next month. 

That’s why the simplest and easiest way to ensure you’re getting the best deal is to use Monito’s money transfer comparison tool. 

Paying In and Funding Options in Australia

Australian residents have a few ways to pay for a money transfer. Depending on the provider you choose to use, you can fund your transfer via credit card, debit card, bank transfer, or direct bank payment. 

Money Collection Options in India

Unfortunately, when sending money from Australia to India, there are very few options for how your beneficiary can access their money. Due to Indian regulations, the beneficiary will need to have a bank account in India, in every case, where they can receive the money you send. As almost 200 million Indian residents don’t have a bank account, this could be an issue, so make sure to check with the beneficiary before sending!

Using a FOREX Provider for Sending Money from Australia to India

For higher-value transactions to India, you may choose to transfer funds using a foreign exchange (FOREX) broker, as you will receive personalized phone or email service and may be assigned a specialist account manager. A FOREX broker may offer multiple collection options for the person receiving the funds.

The Fastest and Cheapest Providers for Sending Money to India from Australia Right Now  

The fees you pay to send money to India can change depending on how much you transfer. Because of this, we’ve compared money transfer specialists over four different amounts:

• Very low-value transfers of $200 AUD or less
• Low-value transfers of $1,000 AUD
• Medium-value transfers of $3,000 AUD
• High-value transfers of $15,000 AUD or more