Send Money from India to Australia with BookMyForex
It has never been easier to transfer money from India to Australia. You can do a wire transfer to Australia as it is one of the most popular methods of transferring money. It will cost you much less to let BookMyForex handle your outward remittance to Australia instead of doing so directly with a bank which will cost you much more. You will have to shell out around 2% extra if you do this remittance directly via banks. With wire transfers, you will be able to remit to Australia in the fastest time possible.
It could seem like a big challenge for first-timers to send money from India to Australia, but if done through online platforms like BookMyForex, it's really easy.Â
Migrating to another country comes with its share of excitement and apprehensions. In recent years, Australia has seen a huge rush of Indians who have migrated to the country either for residency or studies or work or to fulfil their aspirations. You can send money online to Australia for various purposes like maintenance of your relatives or for your kids' education or medical expenses, etc. You can send Australian Dollars through wire transfer online or a demand draft.
Modes to Send Money from India to Australia:
You have two ways to transfer money to Australia:
1: Online Wire Transfer (Swift Transfers)
2: Demand Drafts (money orders)
What is a Wire Transfer?
Sending money electronically between different accounts is easy and secure with a wire transfer. Money can be transferred quickly using this method, both domestically and internationally since other methods like demand drafts can take time. Wire transfers are useful for sending money quickly and securely, especially if the recipient and sender are in different countries. There are limits to how much money can be transferred, but these limits are usually quite high.
Wire transfer is the easiest and best way to transfer money to Australia from India. Though wire transfer is actually done by banks, it is cheaper to use the services of companies like BookMyForex. Online marketplaces like BookMyForex will get you a better rate on a wire transfer from India to Australia than banks. Banks in India charge anywhere from Rs. 500 to Rs. 1000 to process wire transfers. Moreover, most foreign banks that receive the money also charge a foreign correspondent fee ranging from AUD 10 to AUD 40. So when you do a money transfer online, always be sure of the charges and costs.Â
What is a Foreign Currency Demand Draft?
Despite online remittances and wire transfers being the most popular means of sending money abroad, some people still use foreign demand drafts. Payments can be made in other countries using demand drafts, such as paying university and medical fees, etc. To put it simply, demand drafts are physical paper drafts issued in foreign currencies.
How to Transfer Money from India to Australia?Â
Have you got friends, family, or acquaintances abroad? Are you required to send them money monthly or occasionally? With BookMyForex, you can make secure and easy wire transfers from India to Australia. With just a few steps on our website, you will be able to instantly send money to your loved ones:
Step 1: A money transfer involves selecting your city, and the country to which you want to remit money, and then entering the amount. Once you click "Book this Order", you will be able to continue with the order process.
Step 2: As a next step, you have to validate the remitter's details with an Aadhar card and a PAN card.
Step 3: After specifying the purpose of your remittance, you must verify your eligibility.
Step 4: Following that, you will have to upload a minimum set of documents such as a photo cum address proof of the remitter. A passport, Aadhar card, and voter card are all acceptable, as well as some other valid documents depending on the purpose of the transfer will be required.Â
Step 5: You will need to enter the beneficiary's details including name, address, bank name, routing number, bank address, account number, and Swift code in order to proceed. Following that, the funds can now be transferred online from the remitter’s savings bank account.
Step 6: You'll see a declaration page on your screen. An OTP will be sent to your email address and mobile number to confirm your consent.
Step 7: Make sure you have reviewed the order details before proceeding. The payments can then be made through NEFT/RTGS or Net Banking.
Step 8: An Order Confirmation summary will be shared with you. Your only task now is to check the remittance application form sent to your registered email address and submit it to us digitally. Once the partner bank processes the remittance, you will receive a SWIFT acknowledgement.Â
BookMyForex offers you the best exchange rates for sending money overseas. If you would like to transfer money using our mobile App, just download it and follow these steps:
Step 1: Go to the mobile app and select International money transfer. Enter the amount you wish to send, along with your city and the country to which you wish to transfer money. Click "Book this Order" to proceed.
Step 2: You are required to validate the remitter's details.
Step 3: As a next step, specify your remittance's purpose and verify your eligibility.
Step 4: A remitter's photo cum address proof, either a valid passport, Aadhar card or voter card, is required, along with some other valid documents, depending on the purpose of the remittance.
Step 5: Details regarding the beneficiary should be entered, including name, address, bank name, routing number, bank address, account number, and Swift code. Use any reputed online tool to find beneficiary swift code.
Step 6: Select your location to process your order
Step 7: You can make a payment through NEFT/RTGS or Net Banking once you have reviewed your order details.
Step 8: The Order Confirmation summary will be sent to you. Your next step will be to check the Remittance Application form sent to your registered email address and submit it to us digitally. As soon as the partner bank processes the remittance to Australia, you will receive a SWIFT acknowledgement. Â
Benefits of choosing a fully online remittance process on BookMyForex? Â
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Fully Digital & Paperless Process
The easiest and most convenient way to transfer money from India to Australia is via wire transfer from BookMyForex. Even though banks handle wire transfers online, BookMyForex offers a better alternative, thanks to our fully digital and smooth process. Wire transfers to Australia can be booked online in five minutes with our quick and paperless booking process.
Fastest Method of Transfer:
As opposed to sending money through a bank, where there is usually a few-day clearing period, a wire transfer via BookMyForex is the fastest method of sending money to Australia, with funds usually available within 12 - 48 working hours.
24*7 Booking Option:
BookMyForex offers transparent wire transfer rates along with the best level of customer service. Live and transparent transfer rates are displayed 24x7, so you can place your order whenever it is convenient for you.Â
Book Now Pay Later Option:
With "Book Now and Pay Later" feature, customers can lock rates for up to 3 days with a refundable deposit of 2%. It's a great example of our commitment to innovation and customer service. Book Now Pay Later option is especially useful when currency rates are volatile.
Affordable Rates:
BookMyForex offers the most affordable wire transfer rates along with the highest level of service. When it comes to money transfers, your bank is most likely to charge you a lot more than BookMyForex. You can save up to 2-3% on transfer charges when you book your remittance order online through BookMyForex.
Send Money to 150+ Countries:
The ease of transferring funds from India to foreign countries has significantly improved in recent years. Say "No" to bank visits as you can transfer funds to more than 150 countries, including Australia, at very low prices and with live exchange rates with BookMyForex.
Discounts Available for Students:
As part of our "BookMyForex Student Offer", we offer students studying abroad exclusive discounts and cashback when they transfer tuition fees via wire transfer to Australia through BookMyForex.
Factors to consider when sending money from India to Australia
If you're sending money from India to Australia, you need to keep the following factors in mind:
1) Exchange rates are the most important thing to consider. An exchange rate is the relative price of one currency versus another (or a group of currencies). Australia has an active international trade sector, so the exchange rate is a big deal. You can remit money to Australia at live and transparent exchange rates with BookMyForex.
2) It is important to choose a remittance provider that provides a seamless and secure experience to the customers while also ensuring that Remittances are sent only through trusted and authorized banking institutions. With BookMyForex, all remittances to Australia are made through trusted Indian banks, so the process is very secure. Our customer service is one of the best in the business.
3) A wire transfer can be fast, convenient, and easy to initiate, but there is a fee associated with it. When compared to banks, BookMyForex provides a very convenient and low cost way to transfer money to Australia. A nominal transfer fee of Rs. 225 + GST will apply with BookMyForex.
4) A service provider with excellent customer support is essential when transferring money abroad. BookMyForex offers great customer support service via email, chat, or phone. Whenever you need assistance with money transfers, you can count on us for guidance.
