# How to carry money from India to Australia



## Reena.Saj (Jun 10, 2013)

Dear All,

I am PR holder and I am relocating from India to Sydney. Please help to find out the best way to carry money from India to Australia. I have a HDFC Bank account in India. 

1. Which travel card is best? 
2. What is the procedure to open a bank account in Australia.

Thank you in advance

Regards,
Reena


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## louisam (Apr 20, 2012)

1. Most of the travel cards have similar fees for withdrawing from ATM. Since u r having HDFC account, try the HDFC forex plus card.
2. You can open an account online by going into bank website migrant banking section. Westpac, ANZ, CB, NAB - all have this option. U just need to provide visa details and passport number.
Once you have ur account number and BSB code, u can transfer money from your india account to the Australian account. After u land in Australia, go to the bank and complete the identification process. U can start transacting from ur account post this.


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## sivakumar s s (Sep 8, 2014)

Reena.Saj said:


> Dear All,
> 
> I am PR holder and I am relocating from India to Sydney. Please help to find out the best way to carry money from India to Australia. I have a HDFC Bank account in India.
> 
> ...


for Ques:
1. as suggested by louisam. 
2. as suggested by louisam 

*

In Addition, split your money in four ways.
1. commonwealth bank is best as it is having more no. of atm. Transfer to it from hdfc (as per ur budget)
2. Traveller cheque( as per ur budget)
3. Cash get from travel agents(<500 Au$)
4. Load/Reload forex plus travel card. (<2000 Au$) Use this for online transaction and swiping. Not to withdraw money. Also as per Today market rate HDFC charges 53.25 inr per AU$ to load. Very costly


*
open account
https://www.commbank.com.au/


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## sivakumar s s (Sep 8, 2014)

Today I opened an bank account with Common Wealth bank of Australia from overseas.....(ONLINE)

*It is really Hassle free and got registered in few minutes...*

AND I am very much delighted to have an Australian bank account 





sivakumar s s said:


> for Ques:
> 1. as suggested by louisam.
> 2. as suggested by louisam
> 
> ...


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## Rah1x (May 18, 2014)

U guyz sure about Common Wealth bank? or is there even a better bank out there? Whats the bank out there that is extremely reliable and yet has lowest fees?


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## sivakumar s s (Sep 8, 2014)

Rah1x said:


> U guyz sure about Common Wealth bank? or is there even a better bank out there? Whats the bank out there that is extremely reliable and yet has lowest fees?



There are several other good banks in OZ as well like and most important were NAB & ANZ. *CommBank has more atms and less charges comparatively.*

*List of Banks in Australia*
AMP Bank Limited
Australia and New Zealand Banking Group Limited*(ANZ)
Bank of Melbourne, a subsidiary of Westpac Banking Corporation (Australia) Limited
Bank of Queensland Limited
Bank of Sydney, the post May 2013 branding of*Beirut Hellenic Bank*a subsidiary of Bank of Beirut S.A.L. from 2011 previously Laiki Bank (Australia) Limited
Bank SA*a subsidiary of Westpac Banking Corporation (Australia) Limited
Bank of Western Australia*(Previously wholly owned subsidiary of HBOS plc of the UK, now a subsidiary of the Commonwealth Bank of Australia)
Defence Bank
Delphi Bank*Australia Pty (a subsidiary of the Bendigo Adelaide Bank) previously Bank of Cyprus Australia Limited
Heritage Bank
bankmecu
Bendigo and Adelaide Bank Limited
Commonwealth Bank of Australia
Rural Bank Limited (a subsidiary of Bendigo and Adelaide Bank)
Macquarie Bank Limited
Members Equity Bank Pty Limited
National Australia Bank Limited
P&N Bank
Queensland Teachers Mutual Bank (QTMB)
St. George Bank Limited, a subsidiary of Westpac Banking Corporation (Australia) Limited
Suncorp-Metway Limited
UBank, a division of National Australia Bank
Westpac Banking Corporation
Teachers Mutual Bank Limited


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## louisam (Apr 20, 2012)

As siva listed there are several banks. But people use the "big four" because of reliability, network, ease of opening etc..
Commonwealth
Westpac
NAB
ANZ
Many members opted NAB because of zero fee account. Finally boils down to the features you look for. Finding an ATM is not difficult if you choose from these four.

I use ANZ. They have fee for low balance. But i chose that because of other factors such as branch close to my residence etc..


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## sivakumar s s (Sep 8, 2014)

louisam said:


> As siva listed there are several banks. But people use the "big four" because of reliability, network, ease of opening etc..
> Commonwealth
> Westpac
> NAB
> ...


well I missed out *Westpac *louisam... you are right.... FOUR important banks...

One doubt, I am planning on March Ist week to Adelaide.....
Initially, Iam coming alone and to assume to get desired job may take 3-4 months time. 

Could you suggest how much money should I need to bring...

Can I transfer a huge portion to my commBank account before a week or 10 days.


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## louisam (Apr 20, 2012)

sivakumar s s said:


> well I missed out *Westpac *louisam... you are right.... FOUR important banks...
> 
> One doubt, I am planning on March Ist week to Adelaide.....
> Initially, Iam coming alone and to assume to get desired job may take 3-4 months time.
> ...


You can transfer from India a huge portion. It saves you the risk of carrying such an amount with you, even if it is a forex or travel card.

Activating the account is easy and once done you can withdraw money instantly.

You can carry the amount which is required for initial settling down. I presume you would be looking for shared accommodation since you are coming alone. If you are getting a furnished room, it could save you from buying everything immediately.

May be 2 or 3k initially depending upon the room rent and things you are planning to buy.

Atleast carry 1k in cash, incase you get into any trouble with the forex card as we cannot test it in India.

Since you have your family back in India, you can request them to transfer amount to your Australian account, when required. So once you settle down in your locality, you would get an idea of daily expenses and depending upon that you could request your parents or spouse to transfer the amount to your account.

Lesser the amount in the bank, lesser the temptation to spend 

My 2 cents...


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## sivakumar s s (Sep 8, 2014)

louisam said:


> You can transfer from India a huge portion. It saves you the risk of carrying such an amount with you, even if it is a forex or travel card.
> 
> Activating the account is easy and once done you can withdraw money instantly.
> 
> ...


Awesome..... Louisam this is what in my mind..

700 Au$ in Cash
500 AU$ in Travel CARD
2-3K AU$ in CommBank Account. 

Rest as you said depends on need.


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## louisam (Apr 20, 2012)

sivakumar s s said:


> Awesome..... Louisam this is what in my mind..
> 
> 700 Au$ in Cash
> 500 AU$ in Travel CARD
> ...


Good Siva. This should be fine for the first few weeks.

I am sure that you will land in a job before 3 months. 

*More than the aptitude, it is the attitude which matters*.


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## rahulsp (Dec 8, 2013)

Hi Siva, 

The amount you mentioned - is that your budget for 2-3months?


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## sevnik0202 (Apr 26, 2013)

Reena.Saj said:


> Dear All,
> 
> I am PR holder and I am relocating from India to Sydney. Please help to find out the best way to carry money from India to Australia. I have a HDFC Bank account in India.
> 
> ...


Any AUD(Single Currency) card will do the trick.
You can open bank account online with NAB, CommBank, ANZ etc. but until you reach Australia and show your identification documents at the branch you will only be able to deposit no other transaction is allowed.
You can bring cash to Australia too. If its over $10000 you will have to declare it for which you might be asked for the proof of purchase of the currency.


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## sevnik0202 (Apr 26, 2013)

sivakumar s s said:


> Today I opened an bank account with Common Wealth bank of Australia from overseas.....(ONLINE)
> 
> *It is really Hassle free and got registered in few minutes...*
> 
> AND I am very much delighted to have an Australian bank account


Hi

I too was delighted to get a NAB account but had some issues with getting the Debit Cards. Then went to a commbank branch and opened a new account with them on 17th of December 2014. It is more than a month and I have not received my welcome kit. No cards nothing. But the only good thing is that from commbank ATM I can withdraw money without ATM. But unable to make purchases at other places. One good thing about Australian businesses is that you can get a cash out from almost any store.


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## sivakumar s s (Sep 8, 2014)

rahulsp said:


> Hi Siva,
> 
> The amount you mentioned - is that your budget for 2-3months?


Hi Rahul, 

Its for few weeks to say 5-6 weeks.

Initial expenditure may be around 1 or 2 k. Then

if we strict in spending, 1.5k to 2 k Au$ is good for single individual over a month. This is what I heard from others. Let see howz its going.....

Also I am ready to do some odd jobs after 1-2 months......


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## sivakumar s s (Sep 8, 2014)

sevnik0202 said:


> Hi
> 
> I too was delighted to get a NAB account but had some issues with getting the Debit Cards. Then went to a commbank branch and opened a new account with them on 17th of December 2014. It is more than a month and I have not received my welcome kit. No cards nothing. But the only good thing is that from commbank ATM I can withdraw money without ATM. But unable to make purchases at other places. One good thing about Australian businesses is that you can get a cash out from almost any store.


Oh really.... Cash out without ATM. 

Could you elaborate more....Please..

Why the issuance of card getting delayed. Is there any change of address interim.
Also, check with bank whether it is possible to collect it from any branch....(I guess not possible)

So from these, One learning for me that at least I should have 1k in my travel card for other purchases.

How about Your stay in melbs.... With Friends i think. Any good news from opportunities ?


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## sevnik0202 (Apr 26, 2013)

sivakumar s s said:


> Oh really.... Cash out without ATM.
> 
> Could you elaborate more....Please..
> 
> ...


Don't know why the delay. But they told me that I will receive in 6-7 working days after I visited the branch. 

Yes if you have commbank account, you just have to install commbank app on your phone. In the app you have option for card less withdrawal. Two codes are generated you go to the atm and press the button where it says card less cash. Enter the two codes and the ATM will issues cash.

Yes carry some cash in you travel card that will be gud.

I am staying with good old frnds and currently they are not allowing me to pay the rent or utilities. According to them I should pay once I get a job. At times I bring in some drinks or groceries thats it.

As far as job is concerned, I don't want to demotivate any one. I have applied for around 200 jobs but only two positive responses that to are not in my own field. The job market is slow at the moment. It is expected to improve by March-April. I have applied for many casual jobs but they do not consider because they think since I am on a skilled visa I might quit before the contract is over.

Do get in touch if you need any further insights.


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## louisam (Apr 20, 2012)

sivakumar s s said:


> *Oh really.... Cash out without ATM. *
> 
> *Could you elaborate more....Please..*


Cash Out means you can withdraw cash from EFTPOS machines in supermarkets such as Woolworths, Target, BigW etc. And you don't even have to buy anything. There is no ATM fee as well. You can walk in to supermarket, get into a self serve counter or register and use the EFTPOS machine to withdraw cash. 

You can avail it even while purchasing anything as well. For example, if you bought something for $10, and you request cash out for 100, then you get $90. 

People use it more than ATMs now a days...But it is not 24 hrs. For instance in Melbourne, most of the shops close by 5 or 6 pm in the evening on weekdays. Not like India, where we have shops opened till late night.


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## Rah1x (May 18, 2014)

great info guys... but I am missing something here about Travel Cards? Could you tell me whats the story about it? What card and why?

Thanks...


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## sivakumar s s (Sep 8, 2014)

*
Very informative dear Louisam and sevnik*


sevnik0202 said:


> Don't know why the delay. But they told me that I will receive in 6-7 working days after I visited the branch.
> 
> Yes if you have commbank account, you just have to install commbank app on your phone. In the app you have option for card less withdrawal. Two codes are generated you go to the atm and press the button where it says card less cash. Enter the two codes and the ATM will issues cash.
> 
> ...





louisam said:


> Cash Out means you can withdraw cash from EFTPOS machines in supermarkets such as Woolworths, Target, BigW etc. And you don't even have to buy anything. There is no ATM fee as well. You can walk in to supermarket, get into a self serve counter or register and use the EFTPOS machine to withdraw cash.
> 
> You can avail it even while purchasing anything as well. For example, if you bought something for $10, and you request cash out for 100, then you get $90.
> 
> People use it more than ATMs now a days...But it is not 24 hrs. For instance in Melbourne, most of the shops close by 5 or 6 pm in the evening on weekdays. Not like India, where we have shops opened till late night.


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## louisam (Apr 20, 2012)

Rah1x said:


> great info guys... but I am missing something here about Travel Cards? Could you tell me whats the story about it? What card and why?
> 
> Thanks...


You can buy forex cards or travel cards which are pre-loaded with currency of the particular country you are travelling to. 

These cards, once loaded with money in particular currency of a country, can then be used a normal debit card in that country. You will incur ATM withdraw charges, but these plastic cards are a convenient way to bring money instead of carrying cash and travellers cheque. 

Contact your bank.


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## sivakumar s s (Sep 8, 2014)

Mostly covered by Louisam,
Just some pickles to add............

Travel cards are as like as credit card.

*Difference*: Unlike credit card , TRAVEL card has to be preloaded and use it in the particular overseas country only(without charges) can also use in other countries but conversion charges may be applicable.

*Similarity*: Like credit card , it is useful for swiping and online purchase. But for ATM withdrawal charges applicable...

Example:
HDFC Bank || Multicurreny Card


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## Rah1x (May 18, 2014)

Guys check this out
Which Australian banks offer basic bank accounts? - Affordable Banking by ABA
NAB Classic Banking account - no monthly account fees - NAB

looks like NAB Classic is also a good option for the beginning... what do u say?


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## sivakumar s s (Sep 8, 2014)

Rah1x said:


> Guys check this out
> Which Australian banks offer basic bank accounts? - Affordable Banking by ABA
> NAB Classic Banking account - no monthly account fees - NAB
> 
> looks like NAB Classic is also a good option for the beginning... what do u say?


Hi Rah1x,

Appreciate your efforts to bring this here.

For NAB Classic Banking account needs some eligibility criteria, as all Basic bank accounts are intended for customers who qualify for a concession card issued by the Government

For us check out this dear:
*Moving to Australia - migrant*

fill this form to open a NAB account for migrants

https://www.tfaforms.com/197860


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## sevnik0202 (Apr 26, 2013)

sivakumar s s said:


> Hi Rah1x,
> 
> Appreciate your efforts to bring this here.
> 
> ...


Nope. I opened an account with NAB whike in India. They gave me two accounts NAB classic and I saver no issues whatsoever.


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## sivakumar s s (Sep 8, 2014)

sevnik0202 said:


> Nope. I opened an account with NAB whike in India. They gave me two accounts NAB classic and I saver no issues whatsoever.


Oh sounds great.... sevnik

Did they issued the NAB classic account at overseas itself or after verification process at OZ NAB branch.


I opened the account in CWB, They issued me only one account.


@Rah1,

Enjoy mate two accounts in NAB........


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## Rah1x (May 18, 2014)

Guyz, I tried to open with CWB and this is what they told me:

"Due to Australian regulations we are unable to open an account for customers based in Pakistan prior to your arrival. Please attend a branch of the Commonwealth Bank in Australia, to open your new Smart Access Account"..


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## imranrk (Jul 16, 2012)

that's unfortunate! You can try other banks like Westpac or NAB

Moving to Australia | Westpac

Moving To Australia | Migrating To Australia - NAB Migrant Banking - migrant


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## Rah1x (May 18, 2014)

yea true.. Now I will try NAB.. I did email them to confirm.. lets see if they will refuse as well.


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