Are you a student planning for overseas education? If so, then there are various overseas expenses you need to consider while planning your overseas budget such as University fees, accommodation, food, etc. Infact, accommodation is the second biggest expense incurred by students, after they have paid their University fees!
Once you are done with admission process and study permit obligations, the biggest challenge is to find a suitable accommodation in a foreign country, while being in India.
Accommodation Selection
Accommodation costs are fixed expenses over the tenure of your study, hence you need to determine your budget before starting your overseas accommodation search. Start by preparing a budget and stick to it. Ensure you consider all possible factors which can affect your accommodation expenses such as rent, travel costs, remittance rates and other expenses.
It is best to try finding an accommodation near your university in order to save travelling time and transportation charges. There are two types of accommodation options available for any overseas student – Campus Accommodation and Private Accommodation (Off-Campus).
Most of the students prefer Campus Accommodation. However, Campus Accommodation may not always be available to all the students due to limited availability and higher pricing. Therefore, most of the students opt for Off-Campus Accommodation. In case you are a student planning for Off-Campus Accommodation, then make sure you arrange your Off-campus accommodation way before reaching abroad instead of waiting for last minute. You are not the only student seeking for overseas accommodation, so make sure you start your accommodation seeking journey as soon as you have shortlisted your university. This will give you more time to compare properties and understand the market better.
There are plenty of off campus overseas accommodation providers in the market and searching for the right accommodation as per your requirements can be difficult, but not anymore! University Living simplifies your accommodation seeking journey by providing you the best overseas accommodation facilities as per your requirements.
Documents Required for Accommodation Payment
Sending money abroad from India involves a thorough documentation process to ensure regulatory compliance and a smooth remittance experience. By being aware of the mandatory list of documents required for overseas accommodation payment, you can avoid unnecessary delays and complications in your accommodation payment’s journey.
Hence, before sending money abroad for accommodation payment, one needs to make sure that they have all the necessary documents required to do so. Here is the mandatory list of documents required for overseas accommodation payment
KYC Documents:
- Student Passport Photo Page
- Student Passport Address Page
- Remitter Pan Card
Transaction Documents:
- University Letter with fees structure and course duration
- Beneficiary Bank Details
- I20 (For US Only) /Fees Structure from University
- Student VISA
- Hostel authority invoice/ Accommodation Letter
Financing Accommodation
In order to effectively finish your Accommodation Payments Journey within your planned budget, you also need to find a convenient payment platform for paying your accommodation fees. Hence completing your Accommodation Payments Journey can be a stressful process.
The mode of accommodation payment plays a crucial role in determining the overall accommodation expenses. Whenever selecting a payment platform it is important to consider various factors such as money transfer rates, convenience and speed.
Selecting the right accommodation payment platform
Sending your accommodation fees abroad can be an overwhelming process because of fluctuating exchange rates and limited knowledge about the process. The first thing you need to do for paying your overseas accommodation fees is to seek for a suitable money transfer platform. Whenever selecting a money transfer platform, make sure that the platform is safe and secure.
Here are a few tips to select a safe and secure payment platform while remitting your accommodation fees-
- Assure the service provider you choose is a Reserve Bank of India (RBI) Authorized entity.
- Always trust someone who has been in this field for while with a proven track record and with legitimate dealings to be doubly safe of your money.
How WSFx Global Pay can help you in remitting accommodation fees
WSFx Global Pay, being a Reserve Bank of India (RBI) licensed and ISO27001 certified, Authorized Dealer Category II Foreign Exchange House, is the most trusted and safest money transfer platform to transfer money from India to abroad. It is a Forex Company with more than 30 years of experience and has been assisting Indian students with safe and secure overseas remittances through various branches pan India. Its digital application- the WSFx Global App and website (wsfx.in) serves more than 80,000 students every year to pay their hostel accommodation fees, university fees and living expenses.
WSFx Global Pay provides you various remittance benefits as compared to other forex service providers-
- It provides the lowest possible Forex rates for paying your accommodation fees.
- It assures swift transfers within 48 hours.
- It enables you to transfer accommodation fees at the convenience of sitting at your home.
- The WSFx Global pay app and website is a faster and easier mode to transfer money.
- WSFx Global Pay provides seamless customer on boarding experience through the digital V-KYC feature of WSFx Global Pay App.
- WSFx Global Pay provides the students who transact with it, a free International Student Identity Card (ISIC), which allows them to save maximum money by availing discounts on Food, Travel, Accommodation and Entertainment. All you have to do is transact with WSFx to get this complimentary card.
Whether it is accommodation fees, university fees or living expenses, WSFx Global Pay provides the best fund transfer experience to students.
