Millions of international students are studying outside their home countries which can add up to be a substantial expense.
Eliminating unnecessary foreign exchange costs is therefore a great first step to ensuring that more of your hard-earned money is spent on you and your family rather than going to a financial institution.
Of course, the more familiar big banks will be able to provide this service but often the attached fees and exchange rates will not be competitive. You should ensure that you check out the real competitors in the international money transfer market and these are specialist FX organisations. They will more often than not be able to beat the bank rates by up to 4% and most don’t charge a fee.
Specialist currency transfer companies such as TorFX or World First, are able to provide cost efficient and smart solutions to get your money to where you want it safely and securely. These are well established, award winning organisations that will generally offer a better exchange rate than the banks.
TORFX or World First will also be able to help you to set up a regular overseas payment for tuition fees. By doing this, you will save on time and money as you take away the need to re-engage, or re-apply and you won’t have to worry about your transactions every semester.
If you require a specific amount for each payment, ask TorFX or World First about the fixed foreign currency amounts and rates with regular payments that remove the exchange rate risk.
Lastly, enjoy the money you save.
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.