Bank Transfers to India: Which Aussie Banks Work with ACE?

Sending money from Australia to India has become a common need for many, whether it's for family support, investments, or managing finances back home. When it comes to international money transfers, speed, security, and cost-effectiveness are paramount. 

India consistently ranks as the world's top recipient of remittances, and Australia plays a significant role in this flow. For instance, in 2024, India received nearly 2,153,717,500,000 INR in outbound remittances, highlighting the substantial financial ties between the two nations.  

This is where services like ACE Money Transfer play a crucial role, providing a seamless bridge between Australian senders and Indian recipients, just as they facilitate a secure remittance from Australia to India. But how do your Australian banks fit into this process? Let's explore which Aussie banks work with ACE Money Transfer to facilitate your remittances to India.

Funding Your Remittances from Australian Banks

The good news is that ACE Money Transfer is designed to be compatible with practically any Australian bank account. You don't need a specific "partner bank" in Australia; you simply use your existing banking facilities to pay ACE for your transfer.

The Process of Transferring Money

You initiate a local bank transfer from your Australian bank to ACE Money Transfer's designated account in Australia. Australia has these banks: 

• Commonwealth Bank
• Westpac
• NAB
• ANZ
• Any other Australian bank

ACE will provide you with their Australian bank account details (BSB, account number, reference) during the transaction setup.

Pro Tip: Expats in Australia should prioritize no-fee banks in Australia to save on banking costs. Major banks like NAB, ANZ, Westpac, and CommBank, plus digital options like Up Bank and ING, often have fee-free options or waived fees under certain conditions. Always check the terms, as some may still charge for international transactions or specific ATM withdrawals.

Processing Times for making the Bank Transfers

While bank transfers are secure and often have lower or no additional fees from your bank's side, they typically take 1-2 business days for the funds to clear into ACE's account, after which ACE processes the international transfer to India.

Debit and Credit Card Payments via Australian Banks 

For faster transfers, using your Australian bank-issued debit or credit card is an excellent option.

• Using Your Australian Bank-Issued Card: ACE accepts payments directly from your Mastercard or Visa debit/credit card, regardless of which Australian bank issued it.
• Instant Transfer Options: Payments made via debit or credit card often enable instant or near-instant transfers to India, as the funds are immediately available to ACE.
• Understanding Potential Card Fees: While convenient, be aware that your Australian bank or card issuer might charge a cash advance fee for credit card payments or a small processing fee for debit cards for online transactions, depending on your card terms. It's always wise to check with your bank.

Other Payment Methods Supported by Australian Banks 

ACE Money Transfer also integrates with modern digital payment solutions, often linked to your Australian bank, to send money to India from Australia.

Step-by-Step Guide: Remitting Money from Australia to India via ACE

Sending money is simple with ACE Money Transfer:

1. Registering Your ACE Money Transfer Account: Sign up quickly on the ACE website or mobile app. You'll need to provide some basic details and complete a verification process (KYC) in line with regulatory requirements.
2. Setting Up Your Recipient in India: Add your recipient's details, including their name, bank account number, IFSC code (for bank deposits), or their UPI ID (for UPI transfers).
3. Choosing Your Payment Method (from your Australian bank): Select "Bank Transfer" (from your Australian bank account) or "Debit/Credit Card" to fund your transfer.
4. Tracking Your Transfer: Once confirmed, you'll receive a tracking number, allowing you to monitor the status of your money transfer to India from Australia in real-time via the ACE platform.

Your Best Choice for Bank Transfers to India from Australia!

Looking to send money from Australia to India? ACE Money Transfer provides a great solution that works seamlessly with your Australian bank.

ACE Money Transfer offers competitive exchange rates, low fees, and fast transfer options, including UPI. This makes sending money from Australia to India straightforward and reliable. This makes ACE among the fastest money transfers for Australia-India, too.

Experience how easy and efficient it is to send INR from Australia with ACE Money Transfer today, all directly from your Australian bank account.

FAQs

Can I send money to any bank in India using ACE Money Transfer? 

Yes, ACE Money Transfer facilitates direct bank deposits to virtually any major bank account across India.

What is UPI and how does it speed up transfers? 

UPI (Unified Payments Interface) is an instant real-time payment system developed in India. ACE's integration with UPI allows funds to be credited to your recipient's UPI-linked account within minutes, often instantly.

Are there limits on how much I can send from Australia to India? 

Yes, there are typically daily and transaction limits set by ACE Money Transfer and regulatory bodies. These limits will be displayed to you during the transaction process and can vary based on your verification level.

How can I track my money transfer with ACE? 

After initiating your transfer, you will receive a unique transaction number. You can use this number on the ACE Money Transfer website or mobile app to track the real-time status of your remittance.

What documents do I need to register with ACE Money Transfer? 

To register, you will typically need proof of identity (e.g., passport, driver's license) and proof of address. Additional documents might be required for higher transfer limits, in line with KYC (Know Your Customer) regulations.