Forex for Students: How to Save on Money Transfers

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:

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