Studying in the United States: An introduction to how to pay tuition for the first time. For many international students who are going to study in the United States for the first time, how to pay tuition is something they need to understand. Generally speaking, American universities have three tuition payment options: one year, one semester, and one month. Considering the exchange rate issue, many people choose to pay tuition for one semester or every month.
The following is a detailed introduction to common payment methods:
1. Credit card. Ask about the school's policy. Some schools charge a handling fee for paying tuition by credit card, which may be 2%-3% or higher. Although there is no handling fee for depositing U.S. dollars in China, the handling fees when going abroad are too high. Generally speaking, most parents choose to apply for a US dollar credit card supplementary card for their children in China, pay the children's tuition and miscellaneous fees to the school's account, and the parents pay the RMB back to the main card in China.
If the main card is linked to another domestic RMB account for automatic repayment, on the monthly repayment deadline, the bank will automatically repay the money according to the exchange rate of that day, so there is no need to run around. bank. However, it should be noted that some schools only accept credit cards (VISA, MasterCard, American Express, Discover) - (from US banks)), and the billing address must be in the United States. In fact, some Chinese credit cards can be used (such as China Merchants Bank, but not China Construction Bank), which means that China Merchants Bank's credit cards do not verify the billing address, but CCB's credit cards do. It is recommended to inquire with the bank before applying.
2. Money order, wire transfer, traveler’s check. When using these three methods, consider ways to exchange for U.S. dollars. Some people can exchange large amounts through private channels, which is more cost-effective than exchanging at a bank. Banks in some domestic cities do not accept US dollars. They will accept RMB based on the exchange rate of the day.
3. Write a check after opening an account in the United States. After arriving in the United States, students can open an account at a bank on campus, transfer domestic funds to the account, and then students can write a check to pay tuition. However, the handling fees incurred in this process are considerable.
4. Carry cash. This method has certain risks, but it is also the most convenient. In addition, you can issue a certificate for carrying cash. For example, if you deposit US dollars in the Bank of China and then withdraw them (there is a maximum daily withdrawal limit, which seems to be 5,000), you can issue a foreign exchange certificate at the Bank of China that allows you to carry 10,000 US dollars. If you take 10,000 yuan into the United States openly, please do not exceed the prescribed amount.
5. Domestic transfers. ICBC: The online cross-border remittance function is actually quite simple. As long as you have activated the online remittance function, you can use it. The specific function is to allow you to directly convert the money from your account (RMB account) into U.S. dollars, euros, and other currencies and remit it to an account designated abroad. Of course, it can be used to remit money directly to the school's tuition account, or it can be remitted to an account opened by students who are already studying in the United States. Opening a bank account and applying for a credit card is still helpful for international students to accumulate overseas credit records. Just don’t default on debts.
China Merchants Bank: Remittance to overseas bank account: (1) If the cost is ?*** Same as SHA? method: handling fee 0.1%, minimum RMB 100, maximum 1,000 yuan; telegraph fee is 100- 150 yuan; banknote transfer fee is charged according to the standards set by the branch to which the withdrawal account belongs (only charged when the customer's withdrawal account is cash, not when the withdrawal account is cash); the fee deduction account is the customer's RMB account . (2) If the cost is borne by the payee BEN, the method: Convert it into the corresponding foreign currency according to the exchange rate of the day and deduct it from the remittance principal. In the event of remittance, the handling fee will not be refunded.
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