Foreign education seems a very amazing experience and almost 70% percent of the Indian wants to go to foreign for the higher studies, most of the parents wish to send their child to the most renowned and top universities in abroad for getting the better exposure of studies outside India, but then their main concern is the finance, as going abroad for higher studies results in an expense of huge amount of money. Proper planning is to be done before sending a child to foreign so that they can fulfill both the requirements of the college and the facilities of lodging of their child.
Students try hard to get admissions in the top universities outside India. According to the latest report by the reserve bank of India every year a huge amount of money is transferred abroad for the education purpose. Well let’s take a look on the process of how to send money to your ward who is studying in abroad earlier this process was a bit complex but now it’s an easy job to send the money within few minutes by just a tap on your mobile. Since there is a development in technology so exchange of money has become easy you can do wire transfer of money by the RTGS and NEFT payment method. Another method is like you can send the demand draft or the cheques from the bank. Since there is a fluctuation in the currency rate so make sure you fix the rate of sending money to escape from the consequences of rate fluctuations. There is a condition that for the education there should not be a transfer of more than $250,000 in one year. The necessary documents that are required by the student to withdraw the money are the original copy of Student visa, passport, pan card and universities offer letter.