BuyForexOnline launches online remittance for students has announced the launch of convenient and affordable online remittance services for Indian students planning to study abroad. BuyForexOnline’s wire transfer services allows students to make university payments online at attractive rates. Wire transfer services are available in 26 currencies to 200+ countries worldwide and are executed within 48 hours.

“Wire transfers or remittances are a popular method of transferring funds abroad using the SWIFT platform. To remit money one needs to have a sending bank account and a receiving Bank account. The prevailing Forex rate viewed online will be frozen at the time of placing the order, and the sending fee levied by the sending bank and a Beneficiary fee or BEN charges levied by the receiving Bank are also transparently displayed ”said Ananth Reddy, Founder and Managing Director of BuyForexOnline. “So for instance if you are sending US$10,000 abroad through a bank or offline vendors, you might be charged a sending fee of Rs 2,500 and BEN charges of up to US$50, and be offered rates at a margins of up to four per cent, which all could add up to a cost of around Rs 30,000! We are trying to make the process affordable by offering the lowest wire transfer rates and zero sending fee, so a similar remittance transaction online with us would cost the student just about Rs 5,000 or less.’’

“Wire transfers are still an indispensable way to make university payments, especially during the university application and Enrollment phases, though Forex cards are gaining in popularity for making in-person University Fee payments and for maintenance expenses. And to bring-in added convenience we have made documentation much easier by enabling online upload and offering doorstep KYC verification.” added Reddy.