Careful calculation and clever use of funds for studying abroad can not only preserve and increase the value of the funds at hand, but also make the road to studying abroad more convenient.

studying abroad finance is a system, which involves all stages before and after going abroad, and it is best to complete it through a bank. Nowadays, banks provide a wealth of financial products for everyone to choose from in every step of raising money, bringing money and saving money for studying abroad, and many banks also provide one-stop financial services for studying abroad. You can handle all kinds of banking business related to studying abroad without leaving the counter.

how to allocate the mode of carrying funds

study abroad experts suggest that 5%-7% of the funds, such as tuition and living expenses, should be carried out of the country in the form of telegraphic transfer, money order and traveler's checks. 25%-4% of the funds are taken out of the country by international credit cards for daily consumption expenses. The remaining 5%-1% of the funds are carried in the form of cash, which is used for telephone calls and taxi fares when you first arrive in a foreign country.

Preserving and increasing the value of funds for studying abroad

Recently, various banks have launched many financial products in RMB and foreign currency, most of which are for half a year or one year, which is very suitable for investors with short-term financial needs.

ICBC launched a stable and profitable RMB wealth management product with a term of one year, with a subscription starting amount of 1, RMB and an expected annual yield of 2. About 5%.

CCB Profits RMB wealth management products are also one-year wealth management products, with a starting subscription amount of 5, RMB and an expected annual yield of 3. 5%。

BOC's USD products are divided into fixed income and floating income. The term of fixed income products is 3 months, and the income is 4. 6%, floating income products are linked to the price of gold, the term is 6 months, and the expected income can reach 8. 5%; The term of Hong Kong dollar products is one year, and the income is 4. 35%。

The following are six common ways to carry funds:

1. Carrying cash

There are certain risks. According to China's regulations, the amount of foreign currency cash carried by outbound personnel should not exceed the equivalent of US$ 5,. If it exceeds US$ 5,, they should apply for a Carrying Certificate from the designated foreign exchange bank.

2. Draft

A personal foreign exchange draft is a bank bill issued by a bank according to the customer's requirements, with the denomination indicated in foreign exchange, which is held and carried by the customer and used by the customer to make foreign exchange payments or withdrawals abroad. Because students who have just gone abroad to study generally don't have overseas accounts, they can take the draft abroad, go to the local bank for remittance, and then transfer it to their own overseas accounts.

3. Traveler's Checks

A foreign currency traveler's check is a fixed bill issued by a world-renowned financial institution with good credit standing and purchased by the ticket holder, which can be easily taken out of the country and cashed in, and even directly replace cash consumption. At present, Chinese banks mainly sell foreign currency traveler's checks issued by American Express International Inc. There are six kinds of currencies, such as USD, JPY, EUR, GBP, CAD and AUD. Students studying abroad can buy a certain amount of traveler's checks from domestic banks before going abroad, and can cash them after going abroad, or use them directly.

4. telegraphic transfer

telegraphic transfer is a remittance method in which the remittance bank sends a telegram or telegram to the destination branch or correspondent bank, instructing it to pay a certain amount to the payee. Parents remit funds to students' overseas accounts, and students will receive them after going abroad. The premise of this method is that international students already have an overseas account.

5. Money Gram

MoneyGram, a world-renowned remittance service company, is a fast remittance service for individuals by domestic banks. This business does not require the payee to have an overseas bank account. The payee knows the remittance information and password from the remitter, and can receive cash at the relevant local cooperative bank with a special Money Gram counter.

6. Foreign currency credit card

Foreign students can apply for a foreign currency credit card before going abroad, and their parents can apply for the main card and their children can use the supplementary card. International students use this card in consumption abroad, and their parents purchase foreign exchange for repayment in China. For example, the Bank of China Great Wall International Card launched by Bank of China covers a variety of currencies, including Hong Kong dollars, euros, pounds, US dollars and Australian dollars (soon to be launched), and can be spent by overseas VISA or MasterCard merchants without any service charge.