Sanjay Rana asked on 24/11/2021

Time taken to send money to India from Australia?

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Manoj Negi
Manoj Negi
answered on 26/11/2021

      

NRIs send money to India from different parts of the world. Likewise, Indians living and working in Australia often have to send money from Australia to India to their loved ones back home. There are several options to transfer money to India from Australia. Money transfer companies facilitate offline as well as online money transfer to India. Time taken to send money to India from Australia varies, ranging from 1 minute to 2-3 weeks based on the mode of funds transfer. 

 

 

How to send money to India from Australia

 

Here are the various ways to transfer money to India from Australia:

 

Money Transfer Operators: Money transfer operators (MTOs) are financial companies (Usually non-banking companies) that facilitate cross border transfer of funds using either their internal system or through their collaborations with other international banking networks. Some reputed international money transfer operators are TransferWise, Western Union, MoneyGram, Xoom, etc.

 

SWIFT Transfer: SWIFT (Society for Worldwide Interbank Financial Telecommunication) wire transfer is a fast way to transfer money. This is an offline money transfer facility available with several banks in India, such as ICICI Bank, Axis Bank, Standard Chartered, ING Vysya, etc. Many wire transfer operators also provide the facility of online money transfer to India. You can initiate a wire transfer request through your NetBanking NRI bank account

 

Foreign Currency Demand Drafts: A form of demand draft made in foreign currency at various bank branches located overseas to remit money to India. The equivalent amount in INR will be debited for remittance. 

 

Place Online  Offline Via Bank Branch
Internet/

Mobile Banking

(Card/ Bank Account Transfer)

Money Transfer Operators

(Card/ Bank Account Transfer)

Agents 

(Cash/ Cards/ Bank Account Transfer)

Call Centres

(Card/ Bank Account Transfer)

Foreign Currency Demand Draft SWIFT Transfers
Time and Charges
Australia 1-5 Business Days

2 AUD  to 8 AUD 

Minutes to 48 hours

From 0 to a small percentage of exchange rate 

In minutes

 0 – 2.90 AUD +

Foreign ExchangeCost 

Same day to three days

Up to 3.99 AUD below 1000 AUD

7-28 days

Draft making charges

1- day

3-5% in exchange rate cost

USA 1 hour to 2 working days

 

Up to $9.38 per $200

1 hour to (3-5) working days

Up to $9.50 per $200

1 hour to 1 working day

Up to $11.88 per $200

1 working day

Up to $3.94 per $200

(2-3) weeks

Rs.500/- + taxes

(24-48) hours

service tax on currency conversion (up to Rs.300/- + taxes)

United Kingdom 1 hour to (3-5) working days

Up to 5.39 GBP per 120 GBP

1 hour to (3-5) working days

Up to 5.81 GBP per 120 GBP

1 hour to (3-5) working days

Up to 7.20 GBP per 120 GBP

1 hour to 1 working day

Up to 4.99 GBP per 120 GBP

(2-3) weeks

Rs.500/- + taxes

(24-48) hours

service tax on currency conversion (up to Rs.300/- + taxes)

Charges and time taken to send money from Australia to India

 

Note: The receiver will receive the money either in their own/partner bank accounts or as cash from the agents of the respective firms/banks chosen for money transfer.

 

Australia:

 

Mobile Banking: Moderately Expensive

Agents: Less time high cost

Foreign DD/Swift Transfer: More time, low Cost

Money Transfer Operators (Transferwise), Call Centres: Moderate time and cost

 

USA: 

 

Agents: Less time, high cost 

Foreign Currency DD/ Swift Transfers: More time, low cost 

Money Transfer Operators (Transferwise), Call Centres: Moderate time and cost 

 

UK:

 

Agents: Less time, high cost

Foreign Currency DD/ Swift Transfers: More time, low cost 

Call Centres: Moderate time and cost 

 

Compare the best money transfer rates to India from Australia

 

Service providers Exchange Rate* Transfer Fees Money Received in India (in exchange for AUD 1,000)
MoneyGram 53.5946 AUD 2.99 INR 53,434.38
Western Union 53.3378 AUD 0.00 INR 53,337.78
Wise 53.6446 AUD 6.15 INR 53,314.69
Remitly 53.2639 AUD 0.00 INR 53,263.86
nab 51.9489 AUD 10.00 INR 51,429.38

Rates charged to send money to India from Australia

 

* Exchange rates are subject to periodic changes

 

NRIs living in Australia can easily send money to their loved ones in India through SBNRI platform. SBNRI has a partnership with Wise (formerly known as Transferwise) to facilitate quick and easy online fund transfer to India at a low cost.

 

How to get the best AUD to INR rates 

 

NRIs can get preferential rates on AUD to INR currency conversion and a host of benefits when sending money from Australia to India for their loved ones by contacting SBNRI experts. At SBNRI, we keep an eye on the exchange rate on a regular basis to help NRIs with their remittances and investment. You can download SBNRI App to connect with our experts. They will help you evaluate the optimal time for remitting money to India from Australia. 

You can also click on the button below to ask any questions. Visit our blog and YouTube Channel for more details.

 

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