Transfer Money to India
Fast, low-cost, and secure online money transfers from Australia to India
ASIC regulatedAustralian owned
ASIC regulatedAustralian owned
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- 55.2782
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- 53.1730
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- 52.4105
IMPORTANT: This table compares exchange rates only. Fees will apply and may depend on the amount you are sending overseas.
To calculate how much it will cost, simply get a quote.
How it works
Get a quote to send money to India
Set up an account with Wise
Confirm your details & pay for your transfer online
Wise as Our Featured Money Transfer Partner
Benefits: Wise offers a real exchange rate, commonly known as the mid-market rate, which is usually more favorable than traditional banks. The platform is designed for fast and transparent transactions, making it advantageous for those living abroad or traveling frequently.
Fees: Wise charges are low, transparent fees that are a small percentage of the transfer amount. These fees are clearly shown upfront.
Speed: Transfers in many popular currencies can be completed within one day, and Wise offers both same-day and instant transfers, depending on the country.
Security: The company is committed to high-security standards, including two-factor authentication (2FA) and encryption, to safeguard your funds and personal information.
Service Reach: Wise allows you to send, hold, and convert money in multiple currencies, offering account details in major currencies like GBP, EUR, USD, and AUD. This feature supports direct receipt of salaries, pension payments, and more.
Payment Options Offered by Wise
Bank Transfer
is generally the cheapest method for transfers. Although it may take longer than other methods, it provides the best value for your money.
Debit and Credit cards
offer a quicker transfer option. While debit cards are generally cheaper, credit cards might incur higher fees due to processing charges.
Apple Pay and Google Pay
These methods provide a convenient and fast way to fund transfers. However, when using a credit card through these services, be aware of possible additional charges by banks.
PISP
Allows direct bank transfers without leaving the Wise app, combining the cost-effectiveness of bank transfers with the convenience of direct debit.
SWIFT
While this method can fund transfers, it is usually more expensive and slower due to fees charged by intermediary banks.
Wise's approach to international money transfers significantly reduces costs and increases transparency, making it a great option for sending money overseas from Australia.
Alternative Money Transfer Companies
While Wise stands out for its service, it's important to consider all available options to ensure you find the perfect match for your international money transfer needs. Each service offers unique benefits, fees, and features that might be better suited to your financial requirements. Here are some trusted alternatives that also provide excellent money transfer solutions.
Revolut
Benefits: Revolut offers the ability to send money internationally using the real exchange rate, similar to Wise. This service is notably cheaper than traditional bank transfers. Additionally, the platform supports buying, selling, and managing cryptocurrencies directly within the app.
Fees: Revolut provides free international money transfers to bank accounts in over 130 countries using the interbank exchange rate. There are no fees for exchanges and transfers in 24 currencies within the app. However, fees may apply for instant or very fast transfers, especially if you are not on a premium plan.
Speed: Regular transfers can take up to two working days, but Revolut also offers an option for turbo transfers, which can be completed within one working day for those needing quicker transactions.
Security: Revolut applies modern security measures, including the ability to lock/unlock your card via the app and customizable spending limits, enhancing the safety of transactions and personal data.
Differences to Wise: More of a subscription based service with different tiers so it allows you to get a more personalized experience.
TorFX
Benefits: TorFX is recognized for offering fee-free international money transfers, providing excellent exchange rates, and ensuring a customer-first approach. The service is particularly notable for its no-transfer fee policy and the use of competitive exchange rates, which can be beneficial for large transfers like property purchases or corporate transactions.
Fees: TorFX charges no transfer fees, distinguishing it from many competitors. This can result in significant savings, especially on large amounts.
Speed: TorFX offers fast and flexible currency transfers. Customers can manage their transactions 24/7 via an online platform or mobile app, allowing for on-the-go management and ensuring quick processing times.
Security: The company strongly emphasizes security, offering secure transactions through advanced technology and providing personal account managers who monitor the market and guide customers through the transfer process to ensure safety and efficiency.
OFX Money Transfer Services
Benefits: OFX offers competitive exchange rates close to the mid-market rate and does not charge transfer fees, making it a cost-effective option for international money transfers. The service supports over 50 currencies, providing extensive global coverage for personal and business transfers.
Fees: OFX doesn't charge transfer fees, which can lead to significant savings, especially on large transfers. However, it's important to note that while OFX doesn't charge a transfer fee, it adds a margin on top of the mid-market exchange rate.
Speed: OFX provides fast transfer options, allowing customers to execute transactions swiftly. The processing times can vary depending on the transfer method, but they generally strive to complete transfers within 1-4 business days.
Security: OFX is regulated by multiple financial authorities globally, including ASIC and FinCEN. It employs advanced security measures to protect user data and financial transactions. The platform is designed to monitor transactions for suspicious activities, enhancing the overall security of the service.
XE
Benefits: XE offers international money transfers to over 170 countries in 60 currencies. Known for its low fees, especially for amounts below $500, XE provides a cost-effective solution for sending money globally. The service also allows for setting custom rate alerts, which can be particularly useful for getting the best possible exchange rates.
Fees: XE charges a $3 fee for transfers below $500. There is no fee for transfers above this amount, making it more economical for larger amounts. It's important to note that while there are no fees for larger transfers, XE does add a margin to the exchange rates offered.
Speed: Transfer speeds with XE can vary, typically within minutes to up to four working days, depending on the destination and transfer method. For the fastest service, card payments are recommended as they are processed almost instantly.
Security: XE is well-regarded for its security measures. The service uses advanced technology to ensure the safety of its users' funds and personal information, providing a reliable and secure environment for international money transfers.
Western Union Money Transfer Services
Benefits: Western Union is known for its extensive global network, making sending money to over 200 countries and territories possible. It's particularly convenient for sending money for cash pickup, with the option to transfer directly to bank accounts or mobile wallets. This flexibility makes it ideal for urgent transfers, which can be processed within minutes, depending on the chosen service and payment method.
Fees: Western Union's fees vary depending on the transfer method, amount, and destination. While it allows sending money online, via mobile app, or in-person at one of their agent locations, the costs can differ. Fees are typically higher for instant or cash pickup transfers than standard bank transfers. It's also important to note that Western Union makes money from currency exchange by adding a margin to the exchange rate.
Speed: The speed of the transfer can range from minutes to a few days, depending on the service selected and the destination. Instant transfers are available for higher fees, and they are particularly useful in emergencies or when fast delivery is essential.
Security: Western Union employs robust security measures to protect transactions and personal data. These include encryption and fraud prevention systems that help secure customers' funds and personal information.
FAQs
If you are looking to buy or sell foreign exchange in cash and want to head into a money changer near you, check out our local city guides to find the best exchange rate:
- Sydney - The best rates in Sydney are found on Pitt Street, George Street or occasionally in Haymarket.
- Melbourne - Money changers near Flinders Street Station have the best rates in Melbourne with the exception of United Currency in QV.
- Adelaide - Almost every foreign exchange store in Adelaide is located on King William Street.
- Perth - There aren't too many money exchange places left in Perth but you can find good rates in Northbridge at RedRate
- Brisbane - All the best rates in Brisbane are located in the CBD although they are spread out.
Learn more: The Best Places to Buy Foreign Currency Australia
ANZ used to offer the best bank exchange rates but they recently shut down their currency exchange operations.
None of the banks offer the best exchange rates. In our comparison tables they always come last with the worst exchange rates. This is because they pass on the cost of using a physical storefront to you.
They also charge you a ‘lazy tax’. This is when you don't know or can’t be bothered to look around for a better cost. The rates offered by banks for foreign currency are closer to the exchange rates listed by the RBA than the rate on Google.
Unlike booking flights, exchange rates for foreign exchange do not have a ‘best day to buy’. Within the travel industry it is known Tuesdays are the cheapest day to fly, but exchange rates don't work that way.
Movement in foreign exchange rates depends on the global demand and supply of goods and services, as well as political and economic factors. These bank forecasts will help give you a great understanding of which direction Australian dollar currency pairs will move in the future.
In most cases, it is cheaper to buy your foreign currency at home in Australia before you head overseas but there are some important exceptions. It's cheaper to convert Australian dollars into foreign currency if you are travelling to Singapore, Bali, Thailand or Hong Kong.
Learn more: Where is it Cheaper to Buy Foreign Currency, Australia or Abroad?
Compared to the traditional way of buying currency in person, ordering foreign currency online is usually cheaper. Money changers that have a retail store have to pay for rent, staff and insurance. Online money changers like S Money don't have these large costs, making it easier to provide better exchange rates and lower fees.
Buying foreign currency online is also a lot easier. Unlike physical stores, all exchange rates are displayed clearly so you know what you are going to pay. In most cases, you can also get your currency delivered to your door, saving you the hassle of driving into the city or nearest store.
Learn more: Is It Cheaper to Buy Foreign Currency Online?
If you have some leftover currency from a trip abroad or have some US dollars stashed away from a gift, selling it and getting your Australian dollars can be expensive. The best exchange rate when selling currency is the same as when you are buying it. That is, the "mid-market rate" or "live" rate that you see on Google. Most money changers will give you an exchange rate well above this real rate. The closer you can get to this rate, the more Australian dollars you'll have when you convert your currency.
Great question! Why don't all banks, money changers, travel cards and money transfer services just offer the rate you can see online?
Well, they offer a different rate to make money.
The difference between your rate and the rate you see online is a hidden margin and can add up.
Learn more: Why Every Currency Exchange Offers a Different Rate
According to OFX,
Spot rates are the current exchange rates at which specific currencies can be bought or sold on currency exchange markets. Spot rates fluctuate by the second.
It's also known as the 'interbank', 'wholesale', 'mid-market' or 'live' rate. It's also the rate that S Money offers for foreign currency in Australia.
US dollars
Euros
Japanese yen
Fijian dollars
Indonesian rupiah
Singapore dollars
British pounds
NZ dollars
Canadian dollars
Indian rupee
Thai baht
Chinese yuan
HK dollars. 
Vanuatu vatu
