Send money from India to Australia(INR → AUD)

Based on our comparison data, Wise and Instarem consistently deliver the most Australian dollars per rupee on the INR to AUD corridor. Wise uses the real mid-market exchange rate with a transparent fee of around 0.6–1.2%. Instarem, which has a strong presence in both the Indian and Australian markets, offers competitive rates with fees of 0.5–1%. For an INR 50,000 transfer, using a digital provider over a bank saves INR 1,000–2,800. BookMyForex is popular for larger education-related transfers. Traditional banks are the most expensive option due to high SWIFT fees and wide exchange rate spreads of 2–3.5%.

You can pay Australian university tuition through a bank SWIFT transfer or a digital provider like Wise, BookMyForex, or Instarem. Many Australian universities also accept payments through aggregators like Flywire or Western Union Business Solutions — compare their rates against direct transfers. You will need the university's Australian bank account details (BSB number and account number) or a payment reference from the university's fee portal. Education remittances under LRS attract a lower TCS rate of 0.5% (for loan-funded payments) above INR 7 lakh, compared to 5% for non-education purposes. Keep all fee receipts and Form A2 copies for tax filing purposes.

All outbound remittances from India under LRS require specific documentation. You must have a valid PAN card — this is mandatory for any LRS transaction. Form A2 (purpose of remittance declaration) must be submitted to your bank or authorized dealer for each transfer. For education payments, an offer letter or fee invoice from the Australian institution is required. For family maintenance transfers, a declaration of relationship with the recipient is needed. Banks may require Form 15CA/15CB for tax compliance. Digital providers like Wise and Instarem have streamlined much of this paperwork through their apps, but the underlying RBI regulatory requirements remain the same. First-time transfers require identity verification with PAN and Aadhaar.

SWIFT transfers from Indian banks typically take 2–4 business days, including LRS documentation processing time. Wise can deliver to Australian bank accounts within 1–2 business days, often within 24 hours, using Australia's New Payments Platform (NPP) for faster settlement. Instarem typically delivers within 1–2 business days. BookMyForex takes 1–3 business days. First-time transfers may take longer due to PAN verification and compliance checks. Australia's time zone advantage (4.5–5.5 hours ahead of India) means transfers sent in the morning IST can be processed the same Australian business day. Australian bank holidays, including state-specific holidays, may cause minor delays.

Yes, Instarem is one of the strongest providers for the INR to AUD corridor. As a Singapore-headquartered company with operations in both India and Australia, Instarem has optimized this specific route with competitive exchange rates typically within 0.5–1% of the mid-market rate and low fees. Instarem is RBI-authorized for outbound remittances from India and supports direct bank deposits to any Australian bank account. The platform handles LRS documentation digitally, including Form A2 generation. Delivery to Australian accounts is typically within 1–2 business days. Instarem also offers a rewards programme (InstaPoints) for frequent senders. For students making monthly living expense transfers, Instarem's recurring transfer feature and competitive rates make it a strong choice alongside Wise.