Are you a parent with the vision of sending your children abroad for better schooling and education? Or are you a person who is unaware of the procedures to send money abroad to support your children away? Don’t worry, here is an absolute guide for you to solve your tensions revolving around the financial security of your children and the easy ways to send money abroad to support the education of your kids.
If your children are studying abroad or already enrolled in an overseas university, the next concern for you might be the payment of your kid’s educational fees before the deadlines and meet their other financial expenses abroad. So, as you go ahead with meeting them, there is a high chance of getting into traps since there are loads of fraudulent activities happening in the name of sending money abroad. So, the questions here are….
How are you gonna remit money safely abroad?
What are the tips to detect such traps early?
What are the precautions to send money abroad without troubles?
Wanna know more about it? Then here we go…
Choose the accurate remittance partner: Always choose an authorized dealer with an AD II license from regulators like RBI for making the educational payments abroad for a safe hassle-free transaction.
Knowing the transaction limit: For students receiving money from India, there are some limits and rules set by the RBI under the Liberalized Remittance Scheme. A parent from India can send up to USD 250,000 per annum for educational purposes.
Exchange rates: It is always better to gather information on the latest exchange rates and related charges of the services available for a smooth and cost-effective remittance abroad.
What are the mandatory documents to send money abroad for education?
- Application Form
- Student Passport
- Air Ticket
- Remitter PAN Card
- Certificates relating to the qualifications.
- Admission Letter from overseas College/University/Educational Institution.
In light of the above points, it is now easy for you to support your children abroad. Let your children snatch their dreams, and be a pillar in their lives providing wings for them to fly high…