With high expectations hovering across all generations, parents are aspiring for overseas education for their children. Even the upcoming generation has a stronger inclination towards an overseas education that tags with it a lot of expectations and thrilling experiences in the lands unknown. Thriving on these opportunities, many simple, rewarding and beneficial methods have been introduced in the marketplace. Now send money for overseas education has become all the easier than before.
Apart from getting admission & scoring high, there are other priorities such as sending money for overseas education specially for the purpose of tuition boarding and other miscellaneous expenses. Many simple and safe methods have come up for sending money to overseas Universities for education.
What are the popular ways to transfer money for education?
FCDD – Foreign Currency Demand Draft:
- Simple methods to make money for overseas education to any other part of the world
- A paper instrument in the form of a demand draft can be submitted to foreign banks and get the credit through the clearing process.
- Almost all the demanded currencies can be taken as FCDD
- This draft is valid for 3 months from date of issue
- It is mainly used for educations, Employment resolutions, Immigration, Visa fees, etc.
TT (Telegraphic Transfer) – Swift Transfer
- An electronic method of sending money overseas to be credited to the beneficiary’s account
- It guaranteed speed in the remittance process and perfect security for your money
- Swift transfers get directly credited to the bank account of the overseas University and also to the student’s account
What are the different steps to transfer money to a bank account?
- Select an authorized dealer for money transfer
- Pick the recipient and make sure to provide precise details about the receiver along with the country and the right location. There should not be any error in the cited forename and account details of the beneficiary.
- Select the amount you need to send to the account
- Make sure to provide the receiver’s exact particulars along with correct address proof.
What are the essential documents required to send money overseas?
- Valid ID proof
- PAN Card
- Student Visa
- Offer Letter from the University
- Duly signed A2 form
It is often advisable to assess each platform before making the final selection for sending money overseas for the education of your child. All essential information should be tracked and kept ready to make the whole process easier and faster.