Are you planning for higher studies abroad soon? Every year many people go overseas for higher studies. It is a pride for parents to provide education to their children in the greatest universities of the world. But studying and living abroad is an entirely different experience. As you know that for survival you need money and sending money internationally has never been easier. So, you need to consider a few things before going on this exhilarating journey. This blog is providing you with a complete tutorial on sending money abroad for education purposes. Keep reading to learn about the whole process so you will feel confident to send money for overseas education.
Best Ways to Send Money for Overseas Education:
There are many ways that offer quick and secure services for sending money to foreign universities for education. While choosing any method you should ensure transfer speed and complete security for your funds. We have enclosed a list of products below to look at and select as per your requirement:
- FCDD – Foreign Currency Demand Draft
- SWIFT TRANSFER – TT TELEGRAPHIC TRANSFER
- NEFT -National Electronic Funds Transfer
- RTGS -Real-Time Gross Settlement
- Checks
Important Documents to Send Money for Overseas Education:
- Offer letter of Student Visa from the University, a valid passport, and PAN card.
- Your electricity bill or a phone bill of the temporary or permanent address will be required as verification.
- If you are doing an international wire transfer, your intermediary institutions may levy a transaction fee. This may be paid in advance in your native currency.
- You should do planning for your journey, so it becomes easier for parents and you for the whole process. Just need to consider all important points in mind, for a pleasurable and stress-free journey.
- Using simple, and effective solutions results in vast opportunities for the student’s future.
Process for Sending Money for Overseas Education:
- If it is the first time for you to send money for overseas education, search for a reputable forex dealer.
- Choose the recipient and include all crucial information. This information such as the recipient’s name, country, and specific location in a foreign country. Make sure that there should be no mistakes in the beneficiary’s name or account data.
- Choose the correct amount that you want to deposit into the account.
- Not only the information but also the recipient’s exact information as well as proof of address or documents.
- These documents including such as Student Visa, Offer Letter from the University, valid ID evidence, and a PAN card
- A2 form that has been duly signed
Final Thoughts
In conclusion, before using any platform to send money for overseas education it is important to evaluate at least one remit company. By doing this you will find the most efficient one. In addition, you can easily track and maintain all necessary information. In this digital world, it is now much easier to send money abroad as compared to earlier. Not only you can easily send money for education but also there are additional requirements for the maintenance of students to be to be considered. These include expenses for food, tuition fees, boarding, and other general expenses.
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