The most troublesome problem of studying abroad is remittance. Therefore, this article will introduce which remittance method is the cheapest for studying abroad.
1. Telegraphic transfer For those who study abroad, if they want to pay tuition fees to a designated account or a specific currency, most people prefer telegraphic transfer. This is mainly because the international telegraphic transfer business was launched relatively early, people are quite familiar with it, and many banks can handle it; and the speed of international telegraphic transfer is relatively fast, generally reaching overseas accounts within a week, and the cost is not high. In particular, many overseas schools currently require international students to pay tuition fees by telegraphic transfer.
2. Bill of exchange refers to parents going to the bank to apply for a foreign exchange promissory note, taking it overseas by mail, and the children will pay it at the bank overseas. If you choose a bill of exchange, the remitter needs to provide the correct name and address of the payee, but don’t forget to leave a contact address at the bank. If you do this, the parents can contact you in time if there are any problems later.
Compared with telegraphic transfer, the bill of exchange method takes a little longer to arrive, but it can save a telecommunications fee. However, if the bill of exchange is not carried abroad by the person himself, it needs to be mailed, which will incur mailing fees and risks. The handling fee for bill remittance can refer to the charges for telegraphic transfer services in Table 1, ignoring telecommunication costs.
3. Instant remittance Sometimes some emergencies may require parents to make emergency remittances. At this time, ordinary telegraphic transfer methods cannot help parents solve some problems in a timely manner. At this time, parents can choose “Western Union” or “MoneyGram” and other instant remittance services.
4. International debit card For students studying abroad, international debit cards are highly versatile and very secure. Ordinary remittances are still somewhat inconvenient. Using international debit cards for remittances will be faster and the handling fee will be less. International debit cards have a main card and a supplementary card.
5. International credit cards have developed very well abroad. Many people use this method. From large shopping malls to small convenience stores, you can swipe your card to make purchases. Therefore, using international credit cards is also a good choice for studying abroad. Moreover, you do not need to pay handling fees when using international credit cards to make purchases at foreign merchants.