7 things you should look out for before transferring money from Australia to India

The reasons why an individual decides to go for a money transfer from Australia to India are endless. There could be a lot of reasons for transferring money like property, child’s education, investments, funds for family or close friends or for immediate concerns, luxury holidays, supporting a family while travelling abroad, marriage, bill payments etc.

These are some of the reasons why a customer will need to find a dedicated money transfer vendor as they will be able to save more funds that way. The process of money transfer from Australia to India can be quite complex and complicated which can be quite strenuous for the customer. When any individual wishes to go for a money transfer from Australia to India, then they should look out for certain things before making the transfer.

7 things that a customer should look out for before going forward with money transfer from Australia to India:

  1. Cost of transaction:

Any individual who decides to go forward with the money transfer from Australia to India they will have to deal with additional charges as well. Some institutions charge a flat fee while others generally calculate a percentage of their transaction amount. It is advised that an individual should look out for the vendors who waive all the prices when they transfer a significant amount.

  1. Time of transfer:

An individual should always inquire from different institutions the delivery time of a money transfer from Australia to India.

  1. Supporting currencies:

Whenever an individual decides on a company, they should make sure to select a company for supporting both the Australian and Indian currencies and other currencies which they are planning to send.

  1. Exchange rates:

The exchange rates have an impact on the overall transaction a customer will makes. Thus, before an individual decides to send money to India from Australia individuals should compare the AUD-INR or INR-AUD rates.

  1. Options of transfer:

Sometimes a lot of institutions may provide great offers related to transfer options for helping the individual getting the best exchange rate like forward contracts and limit orders. If it is a regular payment, companies will also allow a customer to set up recurring payments.

  1. Limits on transfer:

Some institutions also have limits on the companies which have a minimum and maximum dollar amount which they can transfer between different countries.

  1. Great customer service:

The process of money transfer from Australia to India can be a bit complex and any individual may have doubts and may want help with transactions, ensuring that the companies have the right contact provider. A lot of institutions offer chat customer facilities, and these services are available throughout the day for ensuring that a customer does not face any problems.

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