A Quick Guide to Send Money from India to UK for Educational Expenses
Investing in education is considered a financial boon in the world of today. There has been a drastic drift in the mindset of people to boost the necessity for quality education amongst today’s generation. Due to this, there has been an immeasurable rise in the number of students going abroad, especially to the UK from India to pursue higher education. This creates the need for transferring funds from India to those students for their monetary requirements such as payment of university fees, hostel accommodation, and academic expenses like tuition fees, stationeries, etc. To complete this process, it is important to know what is the best way to transfer money from India to the UK.
Are you tense about whether the formalities and fee payments for your admission into your dream college will be completed easily and that too in a foreign country like the UK, where there are high chances of facing currency-related issues? Are you concerned that your child should not face a cash crisis in an overseas country? Well! You do not have to worry anymore! Thomas Cook is here with its trouble-free international money transfer facility. At the comfort of your home and by the use of your fingertips, you can now send money to the UK in a matter of a few hours. Here are two ways in which you can send money abroad:
- Foreign Remittance
- Forex Cards
- Foreign Remittance
As Indians, we will never want our children staying abroad to face a shortage of money while studying abroad. From time to time, our children will keep requiring funds for academic purposes. With Thomas Cook’s International money transfer facility, parents/guardians can make sure that their children’s monetary needs are fulfilled on time so that they can amp up their studies.The foreign remittance option by Thomas Cook has served millions of Indian students who have traveled overseas with the aspiration of achieving their dream degrees and becoming someone great in life. With Thomas Cook, there’s no stopping or pondering over moving to a foreign country for acquiring a quality education.
International money transfer is one of the many services that Thomas Cook has expertise in. When your children are in a foreign country, concern for their well-being comes naturally. It is important to make sure you have enough money for the necessary expenses. Thomas Cook offers efficient and hassle-free money transfer services to meet all your online money transfer needs. With Thomas Cook Online Money Transfer, you can now send money anywhere in the world from the comfort of your own home. Made for the next generation of global citizens who enjoy getting things done on their own time and at their own pace. Send money hassle-free, securely and quickly through a robust network of online payment providers such as MoneyGram and Xpress Money. Thomas Cook has simplified the process of sending money online into 4 simple steps that are super easy to follow.
- Select your preferred currency and amount on the website
- Fill in transaction details
- make a payment online
- A transfer receipt will be issued once the payment is completed. Thomas Cook’s customer service team is also available 24/7 for smooth, fast and secure online money transfer service.
Benefits of transferring money from India to UK
There are several advantages to sending/transferring money abroad from India regulated by RBI under the Free Remittance Scheme. Under this scheme, a person can send up to $250,000 to fund education abroad. Advantages of Thomas Cook:
- Lock exchange rates for up to 2 business days.
- We track the money you send.
- Easy and secure money transfer method
- Affordable transactions
How can you transfer money to UK via Thomas Cook?
When your children are in a foreign country, concern for their well-being comes naturally. It is important to make sure you have enough money for the necessary expenses. In such a case, we will introduce the 4 essential steps of overseas remittance.
- Select your preferred currency and desired amount- Select the currency and denomination you need
- Enter traveler details and shipping options- Choice of courier or branch pick-up
- Pay online- Do you have multiple payment options? You can choose from any one of these: Debit Cards, Credit Cards, Internet Banking
- Received order confirmation- Receive closing of forex orders at lock rate
Modes for Foreign Remittance
There are two ways to send money to the UK outside of India.
- Wire Transfer- Wire transfers are an effective way to transfer money from India to the UK, when you need money quickly. After complying with his RBI regulations on transfers outside India, Thomas Cook transfers the funds to the recipient’s bank account. Electronic funds transfer using Swift technology is the most convenient and fastest method. Minimize security threats and deliver the intended amount without the risks of draft billing mode.
- Demand draft- A demand draft must be paid in the name of – Thomas Cook India (Ltd.)
Documents required for foreign remittance
You will need the following documents to send money from India to UK:
- A statement about the relationship with the beneficiary
- Valid government-issued photo identification
- Valid copy of the PAN . card
- Form A2 signed
In addition to the documents, the sender must share the following recipient information:
- Name and address of the beneficiary
- Beneficiary Bank name
- Swift code and corresponding account
- Sender name and sender account number
- Purpose of transaction with KYC form
Remittance charges
There will be a nominal fee for someone sending money to the UK from India, you will have to pay a fee.
Foreign bank fees will be around USD
Goods and services tax
Installment processing fee ₹ 500
At checkout, there will be a few changes:
Net banking will be around ₹ 50
Debit/credit cards will account for about 1% of transactions
Please note that there is no processing fee for the installment upfront, but you should check with a forex professional.
- Forex Card
A Forex card is a prepaid card that can be loaded with a foreign currency of your choice. It can be used just like a credit or debit card for making payments in the foreign country’s currency. You can also withdraw the local currency from an ATM. A Forex card or travel card is the easiest way to carry foreign currency when you are studying abroad. This preloaded card is globally accepted. If you want to send money from India to the UK, you can do that easily with Thomas Cook’s Forex facility. You can reload Forex card in just four easy steps. There are 2 types of Thomas Cook’s forex card: One Currency Card and Borderless Multi-Currency Prepaid Card.
Benefits of Forex Card while studying abroad
A Forex card delivers several benefits. It is the safest and cheapest way of paying in foreign currency internationally.
- Safeguards you from the dynamic exchange rates
- Safer alternative to hard cash
- Secured and convenient
- Globally accepted
- Easy refund
- User friendly
Why choose Thomas Cook for Forex Card?
- No hidden charges
- Easy tracking
- 24×7 customer support
- Easy reload
Documents required to own a Forex card
To apply for a Forex card at Thomas Cook, you will typically need to provide the following documents:
- Completed Application Form
- Valid Passport
- Recent Passport-sized Photograph
- Residence Proof
- Income Proof
- Visa (If required)
The above-mentioned list of documents may vary depending on the country you are traveling to. Thomas Cook’s website or representatives at the official branches are there to assist you with your queries regarding Forex.
