Sending money to India from Australia<\/p>\n
If you are newcomer to Australia and want to send money to India, then familiarizing yourself with the terms like exchange rates, current conversion charges, transfer charges ,time to transfer can help you make a better decision to compare the \u00a0different ways to transfer money to India and getting better exchange rate.<\/p>\n
The first step to make an informed decision is to compare costs and exchange rates in Market. There is plenty of website around but the one which I often visit and found quite handy are following<\/p>\n
Send Money to Asia<\/span><\/a><\/span><\/p>\n Remittance prices\u00a0<\/span><\/a><\/span><\/p>\n Both of the above website gives you a snapshot of comparison between different providers that can be used to send money to India. You can compare various features of different providers like exchange rate, cost and time to transfer on a single page.<\/p>\n The second step is to access the different ways of sending money to India which through my experience spans to the following categories<\/p>\n Online Transaction<\/strong><\/p>\n Nowadays you can send money through internet by setting up an initial account with the provider who then transfers the money to the nominated receiver bank account in India.The transfer method is convenient and fast but you need to make sure you are comfortable with the provider and make sure check the security features of the website.<\/p>\n Western union is currently offering for a limited time Zero fee** when utransfer money through them online.<\/span><\/a><\/span><\/p>\n International Money transfer through your Australia Bank<\/strong><\/p>\n Although an expensive proposition as far as the transfer fee is considered Australia banks provide IMT services to India which can take up to 5 days.<\/p>\n Although i myself\u00a0haven’t\u00a0used this service but if you want to try I would recommend Common wealth bank\u00a0who I am banking with last 12 years<\/p>\n Common Wealth Bank IMT<\/span><\/a><\/span><\/p>\n International Money transfer through Indian Bank in Australia<\/strong><\/p>\n If you have a bank account with an Indian bank who has branches in Australia then you might be able to get a better exchange rate through online transfer as there won\u2019t be any processing fee.<\/p>\n State Bank of India<\/span><\/a><\/span><\/p>\n