Learn to Save Money on Every Forex Transfer

About the Event :

Some Key Takeaways:

  • The webinar focuses on saving money on forex transfers for overseas education, hosted by GyanDhan in partnership with Far Forex.
  • GyanDhan, India’s first education loan marketplace, offers free services and has partnerships with various lenders.
  • Far Forex specializes in foreign exchange and offers competitive rates compared to banks due to bulk rate negotiations.
  • The process is entirely online, ensuring convenience and compliance with RBI regulations.
  • Far Forex offers additional services like multi-currency cards, student travel packages, and insurance.
  • Tax Collected at Source (TCS) on forex transfers is explained, with different rates for education loans and self-funding.
  • Important documents required for forex transactions include IDs of remitters and students, university acceptance letters, and relevant permits.
  • Far Forex guarantees savings and seamless transactions, demonstrated with real-life testimonials.


Q1: How to transfer 8 lakh rupees without TCS?

  • A: Split the transaction between your parents, transferring 4 lakh each from your mother’s and father’s accounts.

Q2: Why isn’t Avanse eligible for 0.5% TCS?

  • A: Only banks and Credila are granted the status to offer this TCS benefit due to specific legalities.

Q3: Can exchange rates be predicted?

  • A: Predicting exchange rates is very challenging due to many macro-level factors. It is advised to lock in rates when they are favorable instead of waiting.

Could you please tell me about how the exchange rates are determined?