“...ExTravelMoney has tied up with forex dealers and banks. Through 4000 stores of these partners, it could access the national market....”
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I got to know about extravelmoney.com from a friend of mine. The transaction was really simple, fast & flawless. I was impressed with their ability to meet my need, so quickly.
- Louis T. Cherian, Bangalore
Complete process was very hassle free, right from choosing of exchange rate, confirmation of order and receiving money. I am sure I wouldn`t have got this exchange rate and service quality if I directly walked in to anyone of the forex vendors
- M Aditya Karan, Hyderabad
The entire experience was really smooth. I selected selected a vendor who would do door delivery. Got a quote instantly and the currency delivered in few hours. Will highly recommend this service.
- Pradeep Govindaraju, Chennai
I opted for extravelmoney after doing a lot of research and visiting the banks where I have my accounts. The rates are undoubtedly the best in market and the process is absolutely hassle free.
- Peter Anand Shah, Hyderabad
I have used their services twice and it was a hassle free experience. I would definitely recommend to anyone who needs forex.
- Shiva Kumar, Bangalore
Highly delighted. Best exchange rates and good back up support. Overall, an awesome experience. One hundred percent recommended. Hope to deal with them again.
- Ghouse Syed, Hyderabad
It came as a savior to me. The biggest challenge was to find a place nearby that would do it hassle-free at a reasonable price. Extravelmoney helped a great deal with that.
- Swati Saxena Saxena, New Delhi
Extravelmoney.com is a real pain killer for someone travelling abroad for the first time. Awesome service and very very fast response.
- Manish Kumar, Bangalore
Compare bids from your nearest exchange houses & banks and book online
Get the required KYC documents verified at home or at the nearest branch
Transfer the funds to the exchange house/bank's account as NEFT/RTGS
The transfer will now be initiated and beneficiary will receive credit in 48 working hours!
ExTravelMoney Is Rated 4.8 Stars by Trustpilot Based On Over 289 Reviews
Money Transfer from India to Australia can be done in four easy steps.
Wire Transfer/ Telegraphic Transfer (TT)
Foreign Currency Demand Draft (DD)
Wire Transfer (TT Transfer/SWIFT Transfer) is an electronic mode of fund transfer (through SWIFT), with which you can transfer money from your Indian Bank account to an overseas bank account.
Indian Banks and RBI approved Authorized Dealers has arrangements with over 400+ major banks across the globe to receive SWIFT messages which ensures safe and secure outward remittance from India.
Account holders of any Bank in India (resident and non-resident) can do a wire transfer from India.
A Foreign Currency Demand Draft is another facility for making international money transfer for educational payments, medical fees, VISA fees or migrating to other countries etc. Demand drafts are a safe option for making international money transfer as it is made 'favouring' the beneficiary. DDs can be reissued if lost or stolen.
A resident Indian can transfer maximum US $2,50,000 (its equivalent in Australian dollars) per financial year. This is the current limit set by RBI and is subject to changes in the future.
It’s not possible to send money to Australia as Indian rupees. Instead, we can convert Indian rupee to Australian dollars and then send that to Australia. Check out today’s Australian dollar rate in India.
Money transfer from India to Australia is done as a “Wire Transfer/Telegraphic Transfer”. Wire Transfer can take up to 48 working hours for the funds to be credited to the beneficiary account in Australia.
Sometimes, the transaction gets completed much before this time limit, usually within 24 hours of doing the transaction.
For Leisure/private travel to Australia RBI allows resident Indians to take up to US$ 2,50,000 (its equivalent in Australian dollars) in a financial year. This can be taken all at once or combining multiple visits to Australia in a year. In a single trip, up to US $3,000 equivalent can be taken to Australia as cash (Currency). The remaining amount can be carried in Forex card or traveller’s cheques.
Foreign exchange up to US$ 2,50,000 is permitted by RBI for the purposes of studying in Australia.
A maximum of US$ 2,50,000 equivalent can be utilized by a person going to Australia for medical treatment in a financial year. This is the general LRS limit and your other foreign exchange transactions also fall within this limit. For amount exceeding the above limit, Authorised Dealers may release foreign exchange under general permission based on the estimate from the doctor in India or hospital/ doctor in Australia.
A person going to work in Australia is also allowed to take foreign exchange up to USD 2,50,000 per FY from an Authorised Dealer in India.
A person wanting to emigrate to Australia can draw foreign exchange from AD Category I bank and AD Category II money changers up to USD 2,50,000 equivalent. This scheme cannot be used for the purpose of earning points or credits to become eligible for immigration by way of overseas investments in government bonds; land; commercial enterprise; etc.
A resident Indian can send money to Australia for the maintenance expense of their close relatives up to up-to USD 2,50,000 per Financial Year (April - March) [‘relative’ as defined in Section 2(77) of the Companies Act, 2013] abroad.
Any resident individual may remit up to USD 2,50,000 in a Financial Year as a gift to a person residing in Australia including NRIs and Overseas Citizen of India (OCI) or as a donation to an organization in Australia.
Form A2 is a declaration pertaining to money transfer abroad transaction, which has to be filled with the complete and correct details.
Details of the applicant such as account number, their bank address and details of the beneficiary would be required to be filled in the form.
Form 15CA and 15CB will be NOT be required to be furnished by an individual for remittance, which does not require RBI approval.
Form No. 15CB will only be required for payments made to non-residents, which are taxable and if the payment exceeds Rs. 5 lakhs. Part B and C of Form 15CA has to be filled. Certificate in Form 15 CB required from an accountant.
For Payments made below 5 lakhs, Part A of Form 15 CA has to be filled.
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