Easiest Ways to Send Money Abroad for Medical Purposes
Life is unpredictable; and when your loved one is abroad, worrying about them, especially their health is justified. When your worst nightmare happens in reality, you must seek an easy way to make the necessary medical payments as quickly as possible. Thomas Cook is your one-stop shop for all of your travel and foreign currency exchange requirements. We can also assist you in transferring money abroad for medical purposes. Keeping in mind all students studying and living their life alone in a foreign land, we have come up with our overseas healthcare cover for students which can provide a lot of other benefits besides a quick money transferring solution.
No matter which country your loved one is in, medical expenses abroad without our overseas healthcare cover will always be expensive. In this type of emergency, you need financial assistance, or you will sink into debt.
Easy methods for sending money abroad for a medical emergency
Sending money overseas for medical purposes is a simple alternative that allows you to deposit funds straight into the hospital’s bank account. This makes it simpler for the patient to let go of any concerns regarding payment. Even if you are at home, you may make the payment. It’s as easy as it sounds with Thomas Cook.
Now we will walk you through the fundamental processes to send money abroad for medical care. Let’s go into the specifics so that you are well-familiar with what they can offer:
- FCDD (Foreign Currency Demand Draft):
FCDD is the best way to transfer money internationally for educational purposes worldwide. To get credit through the clearinghouse, you must send a demand draft to an offshore bank. Furthermore, you will receive nearly all virtual currencies accessible for FCDD. The validity period of this draft is three months from the date of issue. These vital documents may be obtained from credible sources, such as hospital fund estimations.
You can transfer up to 2.50 lakh USD for medical treatment every year with FCDD. If important papers from reliable sources (such as a hospital fund prediction) were presented, more funds may be supplied.
- Telegraphic Transfer (Swift Transfer):
A TT is an online tool to send money abroad that allows you to credit the recipient’s account. This entire procedure guarantees that your cash is sent quickly and securely. You can send up to $250,000 each year.
Keep needed documents handy for a quicker process
If you consider any one of these best international money transfer methods, then you are required to put forward the following documents:
- To prove the reason for the remittance, a statement from overseas hospitals with an approximate cost of medical treatment is necessary
- A copy of an Indian passport
- A duplicate of your PAN card
- A photocopy of your visa or confirmed plane ticket
Things to Consider Before You Send Money Abroad for Healthcare
Considering exchange rates are regularly affected by shifting geopolitical events and market movements, the same rate cannot always be expected. It would be great to study more about our forex services before deciding on the most acceptable alternative.
The foreign exchange rate is employed when changing money from one currency to another. Exchange rates change over time and might vary depending on the bank or organization you choose to conduct the transactions with. Natural catastrophes and leadership transitions can influence global currency markets. Interest rates and inflation may both influence currency rates. Even little variances can quickly pile up, especially when transferring large amounts.
When a loved one requires medical assistance, you must consider how you spend your money, but the moment and scenario are not ideal for considering shifting exchange rates. As a result, we have ensured that our foreign exchange currency goods prepared for foreign medical treatment may relieve you of this concern.
Eligibility to transfer money for overseas healthcare
The person who responds must be a resident of India. The remitter’s savings account should be the remitting account. If you need to transfer more than USD 250,000, you must produce a letter from the doctor in India or abroad outlining the expected total cost of the medical treatment. The RBI has granted several financial institutions licenses to conduct overseas money transfers for medical services. It is always preferable to approach such an authentic service provider with an approved license to obtain better services. This is the reason why so many parents consider Thomas Cook to provide financial assistance to their child facing a medical emergency while he/she is studying abroad.
We would like to mention that – Yes, everyone needs to express the same worries about currency rate volatility and transfer speed, regardless of where you’re sending or receiving money. However, cost, security, and convenience are additional factors that need to be taken into consideration as well.
How can Thomas Cook assist?
At Thomas Cook, we make money transfers for overseas healthcare simple and secure. Convert your INR to any foreign currency in a few clicks and send money without concern. Trust is always an essential worry when it comes to foreign exchange. We, at Thomas Cook, work hard to give you the best exchange rates, assuring your faith in us. You may sit at home and buy or trade Forex online or get a forex card with a few clicks!
Not only that, but our trustworthy team of pros will deliver your foreign money directly to your doorstep. If you like, we may organize a pick-up at your nearest bank so that you can obtain your foreign cash quicker to handle the abroad medical emergency better.
How to Start a Forex Account with Thomas Cook?
The simplest method to get started is visiting Thomas Cook Forex’s website and registering and logging in. You must supply information and validate your email or mobile phone number in order to register. Our registration process can be completed in a few simple steps and it only takes a few minutes.
You may receive a simplified estimate from Thomas Cook Forex without signing in, but if you wish to proceed with the transfer, you must be registered and give your information. So, do take the time to register. Here we would like to mention you are not required to pay any amount as a registration fee/charges.
Finally, before attempting to transfer money abroad for medical treatment, you need to be informed of all critical actions. Hopefully, by now, you know what you need to present and what you need to do to make the transfer effective and quick with Thomas Cook. If you need more assistance or guidance, you can browse our site further or contact us as we can guide you to choose the best possible outcome via our healthcare forex products to handle any situation. But do know that all services are subject to government restrictions. These restrictions serve as a precaution against misuse.
To conclude
So, how can you get the most out of your money while sending it abroad? How can you ensure that funds are quickly transmitted to your loved ones overseas in times of need or a medical emergency? Thomas Cook is concerned about your requirements so no need for you to be concerned about anything else. Trust us blindly as you can expect the best international money transfer experience with Thomas Cook every time.
See us now and get started. We are delighted to assist you!
