Insurance Energy Finance Fuel Travel Meerkat Mondays NEW Send money to India Find a great deal on fees and exchange rates for your next money transfer from Australia to India I'd like to exchange $ From currency loading... To currency loading... Compare rates We don’t compare all international money transfer providers in the market. At times, certain providers or currencies might not be available. Learn more. Why compare international money transfers with us? Compare in seconds You can compare international money transfer providers in seconds using our fast and simple comparison service Licensed providers Our comparison service hosts a panel of Licenced providers, so you know you’re getting the real deal. Free to use Using our comparison service will come at no cost to you. How do I send money from Australia to India? If you need to send money to a recipient in India – perhaps to family or friend, or for business investment – then the easiest and best way to do so is via international money transfer. An international money transfer works by moving an amount of money electronically from the sender’s bank account to a bank account overseas. In 2016, India was the seventh most popular place Australians transferred money to. Best and cheapest ways to send money to India? Online international money transfers International money transfer companies, based online, allow customers to set up accounts from where they can send money overseas. The customer pays the money to the transfer company who then, in turn, pays the money into the recipient’s bank account. Bank account transfer You can send money straight into an Indian bank account directly from your Australian one; your bank might even have a specific international money transfer service. Just be aware that banks may charge more expensive fees and exchange rates than other providers. Cash transfer If you or your recipient would prefer your transfer in cash, then the sender simply needs to visit (either online or instore) a money transfer company, who can arrange for your transfer to be collected or delivered to your recipient in cash. If your recipient is collecting the cash transfer, then they’ll need to visit the transfer company’s local office to do so. International cheque (Money Order) If you’re wanting to send money to India in the form of a cheque, you can purchase an international cheque from your bank, which you then post to your recipient in India. The recipient can then cash or deposit the cheque at their bank. How does an international money transfer work? 1 Signing up Before you make an international money transfer, you’ll first need to sign up to an account with your provider of choice (a bank or money transfer company). You’ll need to provide your details (including name, address, banking details and some formal identification documents) in order for your provider to verify your identity. 2 Sending money Provide certain details about your recipient, including their address, bank account number and BSB, to your money transfer provider. You’ll then need to choose the country you wish to send to, the currency you want to convert to, and the amount you wish to send; this will generate a quoted amount, which includes fees and exchange rates, which you’ll then pay to the provider. The provider will, in turn, pay that amount to your recipient. 3 Receiving money To receive internationally transferred money, you’ll first need to ensure that your sender has your correct details. Decide with your sender which way you’d like to receive the money. You may be able to track the progress of your funds if your money transfer service provides a reference number. Frequently asked questions What details do I need to provide to send money to India? Can I transfer money to a recipient who doesn’t have a bank account? How often is information on exchange rates updated? See all international money transfers FAQs About Us Privacy policy Website terms of use Who we compare Competition terms and conditions Contact Us Careers Blog Meerkats Testimonials Media centre Sitemap Financial services guide Credit guide Financial Consciousness Index Financial services guide - life insurance products Sergei's Solutions Hub Let's connect © 2021 Compare The Market. All rights reserved. ACN: 117323 378 AFSL: 422926 Exchange rates displayed are updated daily at approximately 4:15 pm (AEST) and consequently are indicative only. If you decide to proceed with this provider, they will provide you with a final rate at the point of transaction. The Compare The Market website and trading name are owned by Compare The Market Pty Ltd ACN 117 323 378 AFSL 422926. 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