Just making inquiry on behalf of our house mate, what is the best way to send money from India to Australia?
Thinking about something around $15k – $20k.
Appreciate your inputs guys.
Send Money into Australia from India
anonymoususer on 03/11/2013 - 13:02
Comments
Stick to wire-transfers. You may get hit with approx $24-$50 so clarify all the charges beforehand.
If you can use Paypal then it seems to be the cheapest and very reliable. If the person is in a country where they can link their account to a bank account you can send money by Pay Pal by loading your own account with a direct deposit from your bank account. I find I lose about 3.6% on their currency conversion, so for larger amounts it pays to get a better rate. Most major banks have poor exchange rates. Alternatively you can also try www.ozforex.com.au. or https://www.currencyfair.com/ but they have $4 fee.
keep it under $10k. So maybe break it up into two transfers. Otherwise Austrac will investigate.
Goodluck
Stick to a remittance through wire transfer from an Indian Bank. You will be surprised at how quick it can get here. Not to mention the very competitive service charges.
I go through this Nigerian dude I know; he'll be happy to help out.
I can confirm i have used this guy and he is very reliable.
Pennytel transfer is free. They must make their money from their rates. Best to check that before you go ahead.
Best if luck :-)Pennytel Transfer is no longer available because Pennytel went bankrupt. Their VOIP service is being managed now by MyNetFone but they shut the Transfer facility down.
Wire transfer via your Indian bank. Will take about 3-4 working days but the rate will be as good as any you'll get.