What do you know about remittance abroad?

After the college entrance examination, studying abroad ushered in the traditional peak season. More and more students are interested in going abroad and studying. In recent years, the continuous appreciation of RMB has also made studying abroad more? Cost-effective? . 1998 The number of students studying in China was only 17600. After 14, this number has increased by nearly 23 times, reaching 4 13600, and is still increasing at a rate of more than 20% every year. For international students, in addition to applying for schools and visas, they also need to do financial preparations, and it is very likely to happen? Economic benefits? .

Overseas commercial account

Large sums of money should be avoided at one time.

It is very important to provide proof of deposit before applying for a visa. Families studying abroad can provide applicants with personal credit certificates issued by banks that meet their requirements as proof of economic resources. Credit certificates issued by banks generally include personal deposits (including vouchers and savings bonds), personal purchases of book-entry bonds, personal purchases of local and foreign currency wealth management products, personal purchases of funds, personal purchases of insurance, personal purchases of account gold/physical gold, personal loans and personal credit cards.

The staff of Industrial and Commercial Bank of China Shandong Branch suggested avoiding depositing large sums of money into the account at one time. The embassy will check the deposit records. If you deposit a large sum of money at one time, the source of funds may be suspected, which is not good for visa application? . It is best to start to deposit money in the account to be used for overseas business one year before applying for studying abroad, and it is best for this account to have frequent running water within one year.

Different countries have different regulations on deposit time, which is generally divided into three months, half a year, 1 year or 1 year and a half.

Yang Feng, a staff member of Shandong Branch of Agricultural Bank of China, reminded that the deposit funds were frozen during the issuance period of the deposit certificate, and it was necessary to consider the capital turnover problem and determine the best period of the deposit certificate according to the visa processing time. ? For example, it's June and you need to apply for a visa in August, so the time limit for proof of deposit is only two or three months? .

In order to better help families studying abroad solve the problem of capital turnover, some banks also provide loan services for studying abroad. Yvonne Wang, a staff member of Bank of China Jinan Branch, said? The use of margin financing and securities lending can occupy a small amount of self-owned funds, for example, within one year, only self-owned funds accounting for 10% of the total deposit are needed. ? The interest rate of margin loans is based on the benchmark interest rate or slightly rises according to market conditions, but not all countries recognize margin loans.

Four ways to bear the cost of studying abroad

At present, there are four main ways to carry the cost of studying abroad, namely cash, remittance, traveler's checks and credit cards.

Carrying cash has its limitations. According to the staff of Shandong Branch of China Construction Bank, at present, according to the national foreign exchange policy, foreign currency exceeding the equivalent of US$ 5,000 needs to be issued by the State Administration of Foreign Exchange if it exceeds the equivalent of US$ 654.38+0,000. It is suggested not to take the form of carrying cash as much as possible, which is neither safe nor easy to trigger regulatory sideline.

Remittance is a common way at present. Traditional remittance methods mainly include telegraphic transfer and money order. T/T is applicable to international students who have gone abroad, have registered accounts abroad or pay tuition or registration fees for international students. Airticket remittance is applicable to international students who have gone abroad for the first time and have not yet opened a bank account abroad.

T/T does not involve bills and cash, so it is relatively safe, and the time of arrival is fast, generally 2? 7 working days. Remittance is not as fast as wire transfer, but the handling fee is low, which is suitable for situations where funds are not urgently needed. However, if the draft is lost, it will be a bit troublesome and you need to go to the bank to report the loss in time.

The emerging Western Union remittance and moneygram are both relatively fast remittance methods. Generally, this kind of remittance can reach the account within one hour, which is the fastest and more suitable for urgent need of money. But the quantity should not be too large, otherwise the cost will be higher. In addition, due to the limitation of coverage, this method can only be adopted when the payee's bank acts as an agent for this business.

If remittance and telegraphic transfer are troublesome, international students can also choose traveler's checks. Traveler's checks are easy to carry and can also be used for loss reporting, claim settlement and emergency compensation. There is no clear place and time limit for use. It can be directly consumed in overseas hotels, shopping malls, taxis, etc. And you can also exchange local cash at local banks or exchange agencies, but the procedures are more expensive. Buying in domestic banks generally requires a handling fee of 1%, which is not capped. There is also a handling fee of 0.75% for overseas payment.

In addition, many domestic banks have opened international credit card business, which is very convenient to handle. International credit cards can be directly consumed abroad, and there is no handling fee, but there is a certain handling fee for cash withdrawal.

There is an annual total limit on the purchase of foreign exchange.

Communication should be organized reasonably.

The peak period of purchasing foreign exchange, like the peak period of studying abroad, generally appears in the third quarter.

For customers who have no foreign exchange deposits, the foreign exchange needed for studying abroad is often prepared by purchasing foreign exchange. The staff of Shanghai Pudong Development Bank Shandong Branch suggested that the foreign exchange supervision policy has a total limit of 50,000 US dollars per year for domestic individuals, and overseas students should reasonably organize the purchase of foreign exchange according to tuition fees and living expenses. It is suggested to purchase foreign exchange through ATM, online banking, mobile banking and other channels, because queuing at traditional counters not only delays time, but also may face exchange rate risks. ? The exchange rate fluctuates in real time and may exceed its psychological price within the waiting time. And through e-banking, you can lock a quotation in time to buy? .

In addition to banks, money exchange companies have also settled in Shandong in recent years, opening up new ways for citizens to exchange foreign exchange. According to the staff of a currency exchange company, unlike the real-time fluctuation of the bank exchange rate, the company has quotations every day. Compared with banks, we have certain preferential policies. The specific preferential policies will depend on the exchange rate of the day, and there is no handling fee? .

Parents can apply for primary and secondary credit cards.

Supervise the use of children's funds

Xiao Zhao, who studied in England, accepted it? Domestic credit card+foreign visa debit card? Configuration of. She said:? Almost all the students around are configured like this. The consumption habits of foreign countries are very different from those of domestic countries, and they are generally spent by credit card. Debit cards are also widely used in daily life. It is very convenient to transfer cash and there is no annual fee. ? She doesn't think it is necessary to apply for a debit card in China. Domestic debit cards are expensive to spend abroad, so it is enough to apply for a local debit card after going abroad.

The staff of China Merchants Bank Jinan Branch said that it is necessary to apply for international credit cards in advance because it takes a long time for banks to review international credit cards. Generally, it takes three weeks for a single-currency card and one and a half months for a dual-currency card. It is best for international students who go abroad not to withdraw cash by credit card, because every time they withdraw cash, they have to charge a certain handling fee and bear the interest on overdraft, which is higher than the interest rate of commercial loans.

In addition, credit card repayment is also particular. There are generally three ways for parents to repay in China: RMB repayment, foreign currency cash repayment and foreign currency cash repayment. Among them, foreign currency cash repayment is the most cost-effective.

Many parents are worried that their children will spend money abroad. Chloe Wang, director of the International Exchange Center of Shandong Radio and TV University, suggested that parents can choose to configure a primary card and a secondary card when applying for a credit card, with parents holding the primary card and students holding the secondary card. Parents can use the main card to purchase foreign exchange in RMB for repayment, and they can also receive statements in China to supervise the use of children's funds.

?