Four Ways To Send Money To A Freelancer In India
Freelancers are becoming popular for small businesses and individuals to hire because of the reduced costs on hiring more staff to their businesses. Plus, freelancers can be found in countries like India where the currency can sometimes cost less than it would in other regions of the world. Online based work where you can hire freelancers in India isn't hard to find, but you need to use a reliable service to send money to India in order to pay them. Here are four services you may want to use to do this.
An International Bank Transfer Service
If you have either a personal or business bank account at your bank, you'll probably be able to use a telegraphic transfer service to get the money to your recipient in India. Provided they have a bank account, and you don't want to have to deal with third parties, this can be a reliable way to get them their funds. However, banks like the Commonwealth Bank of Australia often charge the highest fees to exchange AUD to rupees, and they usually tack on other fees for telegraphic transfers. If you need a high currency limit for sending money to India, this may be the way to go. But if you're only sending about 1,000 AUD or less, you may do better with a cheaper alternative.
Using PayPal To Send Money
PayPal is a great way to send money as many online businesses now have it, and it's been around for years since eBay became popular. Sending money is pretty easy as you just need to enter your recipients email and enter the amount you want to send to them. You can send funds that are already in your PayPal account, or use a debit card, credit card or bank account direct transfer. But it does have its limitations as there are still exchange fees as well as other fees that are hidden. Plus, your recipient will likely need a verified PayPal account in order to withdraw a large amount of money.
Using Western Union In Australia
Western Union is one of the oldest international money transfer services in the world and it operates independently of any banks. It can be used to send money to Indian freelancers as well. The fees here may be a little higher than PayPal depending on which payment method you use to send your money to India with, but it's possible for your recipient to pick up the money in cash at a Western Union agent near them. Plus, Western Union has a highly secure service.
Using Bitcoin And Other Cryptocurrency
Cryptocurrency is another way you could send money if you wish to exchange AUD for a reliable currency like bitcoin and send it. You just need to use a crypto ATM or online exchange, get a crypto wallet and make sure your recipient also has one, and then send it to their wallet address. Once you send cryptocurrency, it's up to them what they'll do with it. But it's a little complex and takes some technical know-how to use it.
The bottom line is sending money to India from Australia will likely come down to how much you want to send, how much in fees you're willing to pay, and how your recipient is able to receive the money. It can be expensive, but no two money transfer services are the same.