A complete guide to remittances for studying in Italy

1. Credit card

It is very convenient to use international credit cards, but if you withdraw cash from the card, you will have to bear higher handling fees. . If it is an international credit card opened in China, you can repay it in China after getting the foreign credit card. However, if you repay in foreign currency, if you repay in money, the bank will deduct this part of the handling fee because of the conversion between currencies. Therefore, international students in Italy almost do not use credit cards to withdraw cash, because each withdrawal is charged a 1% handling fee, and they also have to bear overdraft interest, which is higher than the commercial loan interest rate. It is recommended that you do not use credit cards to withdraw cash. Also, if you want to use a credit card, it is recommended that you go to Italy to apply for a credit card. Do not apply for it in China and activate it in another place. In that case, there will be a freezing period, which is also very inconvenient.

2. Travelers' checks

Travelers' checks are highly recognized in many countries. Travelers' checks have the same liquidity as cash and can be used for daily consumption or to pay tuition fees. Checks have a fixed face value and are widely used. Traveler's checks need to be purchased when the exchange rate is relatively stable or low, so as to avoid certain losses due to exchange rate fluctuations. The processing fee for travelers' checks is relatively high, generally between 0.5% and 1% of the face value.

The advantage of traveler's checks is that they are smaller in denomination and easier to use. A check can be for 20 yuan or 30 yuan. Its function is similar to a domestic personal check, but it needs to be purchased in foreign currency.

3. Online banking remittance

This is the most modern and fastest remittance service, and the processing can be completed at home, eliminating the cumbersome process of going to the bank. At present, all major domestic banks have opened online banking remittance services. Taking the professional version of China Merchants Bank Online Banking as an example, it currently provides 9 currencies including US dollars, Hong Kong dollars, Euros, British pounds, Japanese yen, Australian dollars, Canadian dollars, Swiss francs, and Singapore dollars, and During the acceptance process, mobile phone text messages will notify you of the remittance status at any time, so the remitter and payee can keep track of the remittance status at any time.

4. Telegraphic transfer

Telegraphic transfer refers to the remittance method in which the bank instructs the agent bank to pay the money to the designated payee by telegram, telex or global interbank financial telecommunications network. This is one of the most traditional remittance services and the most basic remittance service, and many banks can handle it.

Generally, many foreign universities require international students to transfer tuition fees directly to the school’s account through wire transfer, which is more convenient. To pay tuition by wire transfer, you must accurately grasp specific information such as the payee's name, address, payee's account number, name and address of the payee's bank, etc. This information must be specific and accurate, otherwise the bank will refuse service.

Since it uses telegram as a settlement tool, the remitter has to bear the telegram fee. The fee for wire transfer is divided into two parts. One part is related to the amount of the wire transfer, which is a 1% handling fee. The other part has nothing to do with the amount of the wire transfer, but is related to the number of transactions. That is, a telegraph fee will be charged for each transfer. No matter how much or how little RMB is transferred, the fixed fee is 150 yuan/time. Therefore, the larger the remittance amount, the lower the proportion of the 150 yuan fixed fee, which is naturally more appropriate.

Wire transfer is faster and can arrive in the account within two days, but the handling fee is relatively expensive and the prerequisite is that the recipient already has an account abroad. It should also be noted that since there is a limit on the handling fee, which is capped at 250 yuan, the more RMB you transfer each time, the more cost-effective it is. Therefore, it is recommended to use wire transfer only for large amounts or urgent remittances.

5. Draft transfer

Compared with wire transfer, draft transfer will be slower, but it can save a telecommunications fee. If time requirements are not high, you can choose bill exchange. The risk you need to bear with a draft is the loss of the draft. After the draft reaches the hands of the payee, you can go to the corresponding bank to exchange it. It will not arrive immediately, but will take a few days to arrive. Therefore, draft is suitable for small amounts. Remittances for living expenses. Generally, you only need to provide the correct name and address of the payee for a draft, and the requirements for the rest of the bank information are not so strict.

Bill exchange is the first choice. Because he can print a paper voucher for Italian students, we can carry it with us and report the loss in time if it is lost. According to reports, draft remittance is a remittance method in which RMB is transferred from person to person. Students can carry it with them abroad. If lost, they can immediately report the loss by phone with the ticket number. Moreover, the handling fee is also relatively cheap. You only need to pay 1% for draft. The handling fee is capped at 200 yuan. The shortcoming between China and China is that funds arrive too slowly.

After the money order arrives abroad with the students, it must first find a foreign bank for collection, and it will take 10 working days for the RMB to arrive after collection, so people with plenty of time can choose this method. However, I still hope that everyone will use this method, at least for large-amount remittances, because the retention system is relatively high.

6. Quick remittance

If there are some unexpected situations and a large amount of money needs to be paid, then the ordinary remittance method is not suitable. At this time, quick remittance must be used Serve. The more commonly used quick remittance services in China include the Western Union remittance service launched by the Agricultural Bank of China, the MoneyGram remittance service launched by the Industrial and Commercial Bank of China, etc. Specific banks have other quick remittance services, which can be consulted individually. Quick remittance service can generally transfer money to the payee within 10 minutes, and the payee does not need to pay a handling fee, nor does both parties need to open a bank account. Currently, three currencies are available in the country: US dollars, euros, and pounds. kind of international money transfer business.

With the development of society and the improvement of financial services, remittance services will become more simple, convenient and user-friendly. With so many remittance methods currently available, parents of international students can choose the one that suits them according to their own circumstances. Remittance method.

Extended reading: What are the must-eat foods when studying in Italy?

1. Cuttlefish noodles

Cuttlefish noodles are actually an upgraded version of traditional pasta. After the elastic and smooth noodles are cooked, olive oil, fresh shrimps and seasonings are added. With rich squid ink, the noodles will be dyed pure black, which looks unappetizing, but tastes great.

At first, this was just food for common people, but the taste was loved by the nobles, so it went to the tables of the nobles, and then spread to the whole world. As an international student, of course you must try authentic cuttlefish noodles. .

2. White truffle

Truffle is a special kind of mushroom, which is a very noble existence in itself. White truffle is especially rare. In Italy, white truffle is the most popular on the table. There are luxurious ingredients, and the cooking methods are as simple as possible.

The short period from late summer to early autumn is the production season of white truffles. Everyone must seize the time. They can be fried in butter alone or added to noodles and salads as ingredients.

3. Chocolate

Chocolate has spread all over the world, but Turin chocolate has a unique position in the world chocolate map. There are many kinds of chocolate, which can satisfy different curiosity. the needs of the users.

4. Sparkling wine

Most domestic wines are strong and violent and are not suitable for everyone to drink. In addition to mellow wines, Italy also has unique brewing methods. Sparkling wine adds gas to grapes to give it more flavor.

Nowadays, there are many sparkling wines made with similar brewing methods in China, but if you want to try the authentic ones, you still have to go to Italy, so if you go to study abroad, you can also have a few sips.

Extended reading: How to save money on eating and accommodation while studying in Italy

1. Eating: Standing is cheaper than sitting

1. Tap water in Italy is generally drinkable (Non-drinkable tap water will be marked). Each scenic spot has sand filtered water, which is very clear, odorless and safe. It is strongly recommended to bring your own water bottle and fill it with water before going out. Bottled water at the attraction costs 2.5 euros (25 yuan) per bottle, which is quite expensive.

2. Italian breakfast is usually a piece of bread and a cup of coffee, but please note that there is a big price difference between eating while sitting and eating while standing. It is recommended to eat standing up like the Italians (2.5 euros ), save money and experience local customs. You can take bread from the shelf by yourself, and usually drink cappuccino for coffee.

3. Italian ice cream is world-famous and very cheap, usually 2.5 euros for 3 balls. The more delicious ones are chestnuts and hazelnuts. Be sure to choose a store with a wide variety, homemade products, and a history.

4. The staple food in Italy is pasta and pizza. If you want to save money, you can go to some snack shops or supermarkets (freshly prepared) and buy pizza or bread with meat by the kilogram and take it away, and then buy a bottle of drink to complete a meal. It is economical and saves time. You can ask the boss to bake pizza and bread with meat, which will make it more fragrant and delicious.

2. Accommodation: There are discounts for booking in advance

1. Hotel prices in various parts of Italy are relatively expensive, especially in Milan. You should book some discounted hotels online in advance.

Please note when booking a hotel: it should be close to the subway and train station, preferably within a 10-minute walk. Of course, don't choose the hotel next to the train station, which is relatively chaotic.

2. In addition to hotels, you can also book rental apartments, especially when traveling with multiple people. In Rome and Florence, a 2-bedroom, 1-living-2-bathroom apartment priced at 150 to 200 euros can accommodate up to 6 people. The apartment is fully equipped with equipment, especially kitchen equipment, including ovens, dishwashers, washing machines, gas stoves, pots and pans, so you can cook and do your own laundry. The living room provides a space for everyone to communicate openly. Generally, you need to pay cash to stay in an apartment, and cards are not accepted.