BuyForexOnline launches convenient Online Remittance services for Indian Students planning to study abroad

The new Wire transfer service, offers doorstep KYC, Online document upload and big discounts on sending fees.

Mumbai, 24^thJuly, 2017: BuyForexOnline.com, the pioneer in the online Forex space, has announced the launch of convenient & affordable Online Remittance services for Indian Students planning to study abroad. BuyForexOnline’s Wire Transfer Services allows Students to effortlessly 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 $10,000 abroad through a bank or offline vendors, you might be charged a sending fee of INR 2500 and BEN charges of upto $50, and be offered rates at a margins of up to 4%, which all could add upto a cost of around INR.30,000! We are trying to make the process as seamless and affordable as possible, 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 INR 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 Ananth Reddy.

BuyForexOnline is a pioneer in the Online Forex space, which has successfully disrupted the traditional forex model. The major differentiation is in promoting a shift to the Forex Cards on the Visa/Mastercard platform, and offering an online engine for Wire transfers/remittances. With Forex cards, Travelers have the added benefit of security and the ability to reload on the go when funds run out. Since electronic money loaded on Forex cards is not limited by stock, and rates not dependent on supply in the market like physical currency, they are a much more cost-effective solution. As the First Completely Online Foreign Exchange Portal in India, BuyForexOnline.com has introduced features like – Online payment facility, Home delivery of Forex, and Dedicated After-hours customer support to make Forex Purchase a much more simplified, convenient and pleasant experience.