Hey folks,
I will be travelling to India in about a month. I will need to convert about $1500 AUD to INR.
I have some family there, and was thinking of wire transferring some funds over.
Just wondering if anyone had any experience transferring money over to India? Any good companies that wouldn't charge a fee on the receiving end.
I have a Citibank card, however looking around where I am travelling, there appears to be limited Citibank ATM's. As I have family, I was essentially planning on using them as an ATM as they will be travelling to some of the same locations as me.
Thanks though, I'll check the rates with remit2india.
You can also try ATMs from Kotak Mahindra Bank, Yes Bank, Bank of Baroda and SBI, which shouldn't have foreign-card fees, but these things always change (HDFC now does charge the standard 200 rupees). If flying into Delhi airport, it also has a Citibank ATM (which also happens to be the best bank since it dishes out more than the usual limit of 10,000 rupees).
With a transfer (like pre-bookings) it would suck if you send all your money before you arrive and then the Aussie dollar goes up. But this would only happen to me :)
Without a doubt (well a little :)) TransferWise would be the best for a first-time, one-off transfer since you can use a code to get it free (up to a certain amount)! e.g. https://www.icomparefx.com/transferwise-coupon/ Most other vouchers seem to only give $600.
While Transferwise is still great in general (mid-market-rate plus a 0.7% fee for AUD to INR) there are slightly better-paying services but I don't think any of them serve Australia (e.g. Placid) so your options are restricted.
In your case it's once-off, but if you ever had to do it again you could find a code for OFX. Then maybe World First? And you'd still save a dollar or two.
Haha, you always have to doubt everything when it involved India :)
I actually just looked, and student edge seems to have a deal with OFX for free transfers over $250, gold! I'll compare the rates with icomparefx to see who is best. Cheers.
Simple and easy worldremit.com
read the thread title as "wife" transfer to india and I was say you should have a party now you have the house to yourself.
If its just for buying stuff in india etc use a Coles Rewards Mastercard.
No foreign transaction fees and same conversion rates as XE.
If you want to withdraw rupees from indian ATM's open a A Citibank Plus everyday bank account here in australia and use the card in india to withdraw cash.
No fees in citibank ATM's and a small fee at other ATM's and good conversion rates.
If you want to transfer money to a bank account in india i believe remit2india is good.