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How Much Money Can I Transfer To Australia

Overview

Last year, Arijit’s sister, Arpita moved to Canberra with her husband. Arpita’s husband bagged a lucrative job opportunity in Canberra and moved immediately. Everything happened in such a hurry that Arijit couldn’t meet Arpita before her departure. Although they were connected through social media and video calling, Arpita repeatedly asked Arijit to visit them in Canberra. However, it was very difficult for Arijit to manage a month-long holiday for visiting his sister. He had recently joined a new organisation, and his terms didn’t allow him to take additional off days (apart from week offs and national holidays) during a certain period. As usual, Arijit’s application got rejected. He felt dejected more because Arpita’s birthday was approaching and he never missed a single birthday of his little sister. On every birthday, he used to shower her with gifts and took her out for dinner. Her birthday was just a few days away, and Arijit didn’t want to break the chain of giving gifts to his sister. However, it was too late to send her a gift. So, he planned to send her money instead. His friends suggested him to transfer money to Australia in her husband’s account, but he didn’t know how to do money transfer from India to Australia. His friends suggested him to use the wire transfer service by IndusInd Bank.

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How to transfer money to Australia?
IndusInd Bank’s wire transfer services is the most popular way to do money transfer from India to Australia. This process is completely safe and is a hassle-free way of sending money. The IndusInd Bank is a member of the Society for Worldwide Interbank Financial Telecommunication (SWIFT). This network provides a legalised framework to carry out financial transactions. This is a worldwide network and is used by all major financial institutions. If you want to transfer money to Australia or any other country through wire transfer, you have to visit the bank. You will need bank account details of the recipient and the SWIFTBIC code of his or her bank.

Transfer Money using Net Banking
You can also use net banking services for transferring money to Australia. The IndusInd Bank offers net banking services. Once you have activated the service, you have to log in to the account and search the option for money transfer. Put the desired amount and bank details of the recipient and transfer money online.

How Much Money can you Transfer to Australia?
The Reserve Bank of India regulates the norms for transferring foreign currency. Till 2013, the RBI allowed a person to send not more than USD 75,000 every year from India to overseas accounts. In 2014, the RBI increased the limit from USD 75,000 to USD 1, 25,000. Again in 2015, RBI increased the limit. Now you can transfer USD 2, 50,000 to any overseas account in a year.

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