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How to Choose the Best Money Transfer Service for Sending Money to India from Australia

How to Choose the Best Money Transfer Service for Sending Money to India from Australia

26 Jan 2023


If you use your local bank, you can simply send money to India from Australia, but it might also be expensive. Bank fees, exchange rates with hidden margins, and hidden fees are frequently associated with international money transfers. Alternatively, you can use a service like Western Union or MoneyGram to physically transfer your money by going into a store. Although these services frequently provide quick service, they might not be the most affordable way to send money to India.

 

ACE Money Transfer’s remittance services can provide the best of both worlds. They provide a low-cost option that allows you to transfer money without leaving your home. When sending money from Australia to India, there are numerous ways to compare money transfer companies in one location. By comparing remittance exchange rates for the Australian Dollar (AUD) and Indian Rupee (INR), you can send money to loved ones abroad. 

Checklist Of How To Choose The Best Money Transfer Services

Before you send money to India online, be sure to do the following:

Verify The Current Exchange Rate

Before engaging in a currency exchange or money transfer, compare rates with various providers. There are alternatives to banks for examining exchange rates and sending money abroad. Exchange rates constantly fluctuate based on various market factors like supply and demand. 

It's possible that the exchange rate that seems high or low right now won't be the same in a few hours or in a day or two. Before you move on, it's better to know the best money transfer service and how to send money to India.

Just before you transfer money, it's crucial to check the exchange rate. Even if you checked earlier in the day, you'd want to get a current, accurate picture of the exchange rate and the transfer cost. On the ACE Currency Converter, you can get real-time exchange rates, request a quote, and send money to more than 100 countries in all the major world currencies.

Compare Rates And Fees Across Various Platforms

A smart and simple way to maximise your foreign exchange and transactional opportunities is to shop for the best rates before your money transfer. A good choice might appear to be banks and wire transfer companies. However, you might find that using them will end up costing you more than you anticipated due to their additional fees and charges.

While sending money to India, ACE offers reasonable rates without additional fees and a range of money transfer services tailored to your specific requirements.

Choose The Safest Option

You should use the service provider when sending money overseas and providing personal and banking information for both you and the recipient. Your safety is the company's top concern. Enterprise-grade security will help you keep your money safe and secure. 

In every nation where they provide services, they adhere to regulatory requirements. They also provide fraud awareness to its beloved customers. 

Indian Overseas in Australia 

In Australia, the Indian population is expanding quickly. Most people moving permanently to Australia in 2011–12 were from India. In 2011–12, 15.7% of the overall migration program comprised Indians. 

For the first time in the previous ten years, Australia experienced negative net overseas migration from India in the financial year 2021, with an estimated 11.6 thousand more Indians leaving Australia than moving there. Since 2009, 2011 saw the lowest increase in net migration from India, with just over 9,000 new immigrants.

How It’s a Good Time To Send Money To India?

NRIs are considering whether or not they should send money to India for investment purposes, as long-term interest rates there have surpassed 8%. The amount sent to India is constantly rising. Since 2018, it has increased by over $50 billion annually. In the past 15 years, both the Indian GDP and equity markets have performed well. 

Even the money transfer sector is expanding in India, with an average annual growth rate of 15-20%. NRIs from developed nations besides Australia are already having trouble with the returns that their markets are offering. They can search for lucrative returns in India.

Online Money Transfer To India From Australia 

If you've relocated to the "land down under," it's likely that you have family and loved ones back home waiting for financial support from abroad. You send money to India online and provide them with support from abroad. ACE Money Transfer is available to assist you if you need to make money transfers from Australia to India for any reason. 

They have been working for a very long time to make it simple and dependable to send money around the world, and every year millions of people rely on ACE Money Transfer to get their money where it needs to go.

The other way also functions admirably. Perhaps you have a child attending a university in Australia, or you intend to visit there in the future. To make moving in as simple as possible, you can always send money in advance. This way, when you or your loved ones arrive, the money will be available in Australian dollars.

ACE  Money Transfer- The Best Way to Send Money to India

With ACE, it's simple to send money online to India. To send money to India from Australia online, sign up for a free account and create one. Then, log in. Give your recipient's account number, their Indian Financial System Code (IFSC), and the reason for the transfer to initiate a bank transfer to India.

 If you frequently transfer money from Australia to India, you can also send money directly from the ACE Money Transfer app or start your transfer in the app and pay in-store.

You want to pay as little in exchange fees as possible when transferring money from Australian dollars (AUD) to Indian rupees (INR). To make your money transfer to India simple, ACE works with you to determine the simplest, fastest, and most secure ways to convert your Australian dollars into rupees.

Bottom Line 

The process of sending money abroad doesn't have to be difficult at all, and hopefully, this guide has given you a better idea of what you'll have to do when the time comes to transfer. Ready to go? To get started, log in or sign up with ACE right away.

Reference Links 

https://www.xe.com/blog/money-transfer/money-transfer-checklist-things-to-do-before-making-a-currency-exchange/

https://www.remitfinder.com/best-exchange-rate-to-send-money-from-australia-to-india/rr/AUS/IND

https://www.monito.com/send-money/australia/india/aud/inr


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