Choosing the best foreign exchange for students traveling abroad to study might be tricky. We have covered why students traveling abroad buy Forex online.
Why students traveling abroad buy forex online?
Buying foreign exchange online will provide a seamless, cost-effective alternative service compared with offline foreign exchange services. Buy forex online can be accessed with a few clicks. If you are traveling abroad for study. Make your journey on the right online platform for forex services by comparing rates, making the best deal, and using forex rates without any hidden charges for university tuition fee payments abroad, living expense payments, forex cards, and physical currency.
Furthermore, you can always compare exchange rates and fees before choosing a remittance to a university/forex card living expenses/physical currency with an online service provider partner, as online platforms will be having tie-ups with multiple partners for forex services in India. That is why students traveling abroad buy forex online.
Top 10 reasons students traveling abroad buy forex online
Students traveling abroad buy Forex online, and buying Forex online offers a range of advantages. So, an online forex platform is an essential financial tool for students traveling abroad for higher studies.
1) Price Comparison
You can compare rates online from different online service providers, lock the rates, and get better exchange rates without hidden fees, saving money in the long run for students traveling abroad for studies.
2) Home Delivery
If you book currency/forex cards, they can be delivered to your home at your chosen time of delivery from morning 10 am to 6 pm.
3) Customer Reviews
Before booking your forex services, you can always see customer reviews, which give you an idea of how competitive they are when quoting rates and their services, and you also see their social media presence.
4) Save Time
You can book online for any Forex services and need not travel to Forex store which saves a lot of time, and the main goal of the online service provider is to save time from traditional offline Forex services
5) Convenience
Booking foreign exchange online offers unparalleled convenience for students traveling abroad to buy forex online for overseas for higher education. Once you register with an online forex service provider, you need not worry about repeated forex transactions, as you can raise new requests any time at your convenience for all the forex services. It also makes the safest way to make the transaction, as you need not carry cash and can book from home at your comfort online.
6) Tracking Real Time
Payment made to the university can be tracked, and mail confirmation will be received from the service provider with the SWIFT copy on the same day or the very next day.
7) Exclusive Discounts
Some online platforms will give you added perks like free travel insurance, discounts on travel-related services, loyalty points, a free data pack, free international lounge access, or a free voucher from Amazon worth Rs 500 or more.
8) 24/7 Accessibility
You can get customer support online if you’re abroad at any time. In case your card is lost or stolen in a foreign country, the support team will resolve issues instantly, and you can raise a query if there is a time difference from the country where you’re studying. You can get assistance anytime during your trip.
9) Protection from Exchange Rate Fluctuations
Once you book forex rates online and make payment, rates are protected, and there will be no worries about rate fluctuation. Booking will be covered for a specified amount for 3 days only. This can protect you from unfavorable exchange rate fluctuations if students are traveling abroad.
10) Get quote Instantly
You will get quotes instantly from all the online platforms where you can book and make payments online.
Document required by students traveling abroad buy forex online.
- Valid Passport copy.
- Student Visa Copy.
- PAN copy: Linking PAN (Permanent Account Number) with Aadhaar is necessary for all forex transactions.
- Air Ticket.
- University letter with fee details and course duration.
- Loan Supporting Documents if the student has taken a loan.
- Form A2 application cum Deceleration signed by the student.
- Form I20 for students who applied for US university.
Key points to remember students traveling abroad buy forex online
- RBI’s LRS Limit: The total amount students can remit under the Liberalised Remittance Scheme (LRS) is USD 250,000 per financial year (April to March).
- Multiple Transactions: You can make multiple transactions under the limit of USD 250,000 in a year. But it cannot exceed the total amount of USD 250,000 in FY.
- Limit to carry foreign currency in cash: the maximum amount of foreign exchange in physical currency per student traveling abroad can carry up to USD 3000 only, and the balance amount (USD 250,000-USD 3000 = USD 247,000) may be carried in a forex card/demand draft/remittance.
Conclusion
Overall, students traveling abroad buy forex online. The online platform offers peace of mind, financial control, and convenience while traveling abroad, making it the best way for students traveling abroad buy Forex online. To get forex online services, visit us at https://fxbooking.com and book forex online with simple steps. Our expert team, dedicated exclusively to student remittance/forex card/currency, will guide you on complete forex services with the best rates.
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