University Fee - WSFx

University Fee

University fee payments are not a hassle anymore. You can now remit your international university fee digitally through the WSFx Smart Fx App in just 4 clicks. The app offers a simple, fast and seamless way to pay your international university fees. Complete your one-time video-KYC and choose your university from our exhaustive list of universities across 180 countries on the app and remit your fee in just 4 clicks.

With several years of experience in the forex arena and strategic associations with reputed banks and student financial institutions in India and across the globe, WSFx is a trusted ally to remit your international university fees in a few clicks.

Simultaneously, you can reach out to us directly to have your university fees remitted at the best rate possible.

App Store Google Play Store
Send Money
Digital. Seamless.

Easy. Trustworthy

Keeping your convenience as our utmost priority, the WSFx Smart Fx App is specially designed to enable fast and reliable international university fee payments. With the ability to facilitate a one-time video-KYC which can be replicated for all processes and minimal documentation processes, we’ve got you covered from start to finish, digitally. 

Additionally, every student who transacts on the WSFx Smart Fx App is entitled to receive a complimentary virtual ISIC card that’s valid for a year. This opens up a world of offers and discounts to international students studying across 150 countries. 

Here is a list of university Fee-related objectives that we can help you accomplish: 

  • Overseas education
  • Remittance under educational tie-up arrangements with universities abroad
  • Remittance towards fees for examinations held in India and abroad and additional score sheets for GRE, TOEFL etc.
  • Emigration and emigration consultancy fees
  • Visa fees

Additionally, your parents and loved ones can also use the WSFx Smart Fx App to conduct a remittance for education abroad or make monthly payments towards your rentals, living expenses or any other impending issues.

Know more

Leave us with your contact details and we will reach out to you at the earliest.

FAQ

Outward Remittance is a transfer of money in foreign exchange, by a resident in India to a beneficiary situated outside the country (except for Nepal, Bhutan, North Korea and Iran) for a purpose as approved under FEMA (Foreign Exchange Management Act). You may send money abroad to a beneficiary for various purposes including education, employment abroad, emigration, foreign travel, medical treatment, etc.
Any or A Resident of India can do an Outward Remittance transaction.
The Liberalized Remittance Scheme is a facility provided by the RBI for all resident individuals including minors for remittance up to USD 250,000 per financial year for permissible current or capital account transactions or a combination of both. This facility will not be available to corporate, partnership firms, HUF, Trusts, etc.
The transactions permitted are as follows:

Student Remittances:
    1. University Fees
    2. Overseas Education - GIC
Other Remittances:
    1. a.Private Visits
    2. b.Fee for participation in global conferences and specialized training
    3. c.Remittance for participation in international events / competitions (towards training, sponsorship and prize money)
    4. d.Emigration Fees
    5. e.Emigration Consultancy Fees
    6. f.Employment and processing, assessment fees for overseas job applications
    7. g.Medical Treatment abroad
    8. h.Examination Fees
    9. i.Visa fees
WSFx will charge a handling fee of Rs.250 for every remittance transaction.
Nostro bank charges are fee/charges levied by the Nostro bank of the sending bank for effecting the remittances. You will have to select if the sender (remitter) or the beneficiary will bear the charges. If remitter is selected additional charges will be collected else, if beneficiary is selected the final amount will be less than the Nostro bank charges
Swift Copy refers to a document that acts as a confirmation of payment made from your bank and informs the beneficiary of the value date of the transaction. Once the remittance is completed, a copy of SWIFT/ Debit Advice will be available in the Smart Fx App for download.
Yes, you will have to submit your self-attested transactional KYC documents physically. Our service executive will collect the documents from your residence/office address. This will also be applicable to customers who have done their Video KYC through the WSFx Smart Fx App.
No, third party payments are not allowed by RBI for outward remittance transactions. Payment can only be done by the following:
  1. a) Self
  2. b) Spouse
  3. c) Father or Stepfather
  4. d) Mother or Stepmother
  5. e) Son and Stepson
  6. f) Son's Wife
  7. g) Daughter or Stepdaughter
  8. h) Daughter's husband
  9. i) Brother or Stepbrother
  10. j) Sister or Stepsister
Any resident in India can remit up to US$5,000 in a given year as a gift to a person residing outside India or a donation to a charitable/educational / religious /cultural organization outside India. Remittances exceeding the limit require prior permission from the Reserve Bank.
Yes, foreign exchange for students studying abroad can be taken in all forms except currency where a limit of USD 3000 applies. Pre-paid cards can be re-loaded by students’ parents / guardians at any time (During workings hours and working days).
A direct remittance service to the institute you are getting enrolled in can also be done through the Smart Fx App.
In general, foreign exchange entitlement should be below USD 2,50,000 per annum (If not consumed any part of it in any other purpose stated under Liberalized Remittance Scheme(LRS)). Remittances exceeding USD 2,50,000 will be allowed based on the estimate received from the institute abroad.
Yes, it is mandatory for the resident individual to provide his/her Permanent Account Number (PAN) for all transactions under LRS made through Authorized Persons.
There are no restrictions on the frequency of remittances under LRS. However, the total amount of foreign exchange purchased from or remitted through, all sources in India during a financial year should be within the cumulative limit of USD 2,50,000.
Once a remittance is made for an amount up to USD 2,50,000 during the financial year, a resident individual would not be eligible to make any further remittances under this scheme, even if the proceeds of the investments have been brought back into the country.
For remittances pertaining to permissible AD II transactions, the customer has to furnish Form A-2 along with supporting documents (ID/Address proof) regarding the purpose of the remittance and declare that the funds belong to him and will not be used for purposes prohibited or regulated under the Scheme.
The remittances can be made in any freely convertible foreign currency. Through our App you can remit for the following currencies:
  • United States dollar - USD
  • Canadian Dollar - CAD
  • European euro- EUR
  • Pound Sterling – GBP
  • Australian Dollar - AUD
  • Arab Emirates Dirham – AED
  • Singapore Dollar – SGD
  • New Zealand Dollar - NZD
  • Hong Kong Dollar - HKD
  • South African Rand - ZAR
  • Norwegian Krone -NOK
  • Swedish Krona - SEK
  • Saudi Riyal - SAR
  • Danish Krone - DKK
  • Swiss Franc - CHF
  • Japanese Yen - JPY
Money can be sent abroad through the following modes:
  • Wire Transfer
  • Foreign Currency Demand Draft
You can do an outward remittance through the Smart Fx App or by visiting any of the WSFx branches & submitting the necessary forms/documents with beneficary and transaction details.
Gifts up to USD 2000 per financial year can be sent on the basis of self-declaration, Gifts/Donations upto USD 2,50,00 can also be sent under Liberalized Remittance Scheme (LRS) up to USD 2,50,000, The facility will be per financial year basis (April-March).
Resident Individuals are allowed to send Outward Remittances under Liberalized Remittance Scheme (LRS) up to USD 250,000 per financial year for any permissible current account transactions.
The user cannot return/cancel the order once the order is completed by WSFx. For orders cancelled due to non-compliance or client request, the refund will be made only after convenience fees are deducted.