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: