I came across https://transferwise.com/ (it was cited in this The Age article).
I am sick of using my Citibank India account to transfer funds to India and am thinking of transferring funds either through Bitcoin or through such a website in the future.
Ultimately, Bitcoin is going to be too expensive. From what I've researched, Dogecoin (DOGE/ XDG) is actually the cheapest way to transfer funds (just 1 Dogecoin, which is worth less than 2 US cents - $0.0171 - no matter how big the amount being transferred). IOTA is probably even cheaper ($0) - but I've not yet understood it properly.
I must add that banks are keenly aware that the carpet is being pulled from below their feet, and are actively working to reduce such costs. Ripple (XRP) is being tested by many banks as a means to minimise such costs.
The financial market creams around 6-8 per cent of GDP every year for providing its services. It remains mired in ultra inefficient practices and technology of the 1970s and 1980s.
My bet is that its share is going to decline to less than 1 per cent within the next 10 years - and potentially less than 0.1 per cent in 20 years. A wipeout.