Forex for Students: How to Save on Money Transfers
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A webinar on “Forex for Students: How to save on Money Transfers” was organised on 31 Mat 2024.
Here are some key Takeaways:
The webinar focused on saving money on foreign exchange for students studying abroad.
Forex services offer better rates than banks by negotiating high-volume deals.
Popular payment portals like Flywire and Convera can be used through Forex for lower charges.
RBI regulations ensure legal and compliant transactions.
Forex services provide added benefits like overseas medical insurance and education loans.
The remittance process is straightforward, requiring KYC documentation and timely fund transfers.
TCS (Tax Collected at Source) on foreign exchange transactions can be minimized with education loans.
Multiple remittance options exist, but students should prefer direct bank transfers for safety and compliance.
Forex cards are useful for initial expenses but not recommended for large tuition payments.
Feel free to ask any queries down below: