Saving on Forex while Studying Abroad

Indians are the 2nd largest student community that invests in overseas education. Every year, there is an increase in the number of students applying to universities abroad to gain quality education and global exposure. While studying abroad has a lot of advantages, cost-effectiveness isn’t one among them.

Here are a few simple hacks for international students to save money on forex.

Purchase forex locally – Purchase forex locally before you fly out. Compare exchange rates of multiple companies before making a decision. The difference in rates varies between 1% – 5% which is a sizable margin. Wall Street Forex offers competitive exchange rates with real time transparency and shamelessness to help with your forex or remit money in a few clicks.  

Choose a forex card over a debit/credit card – If you were thinking of using your debit/credit card abroad, think otherwise. Debit/credit cards have charges levied on them for international transactions along with being subject to the volatility of rate change. However, a forex card accrues no charges for transactions abroad provided the destination currency is used. It is pin protected and insured, and is accepted globally. Additionally, it offers the ease of a top up while you are abroad. By registering on the WSFx Smart Fx App you can order the best forex card for Indian students from the comfort of your couch and have it delivered to your doorstep.

Be smart about remittance – While remitting a large sum of money such as tuition fee, choosing the agency/solution that offers the best exchange rate even if it is just a few paisa makes a difference. Additionally, while choosing a remittance provider it is also important to know their charges and then make a calculated decision. WSFx’s Smart Fx app offers seamless university fee payment in just 4 steps with competitive remittance charges per transaction with the option to remit from India.

Keep an eye on forex rates – Forex rates are in constant flux and it is always advisable to buy when the exchange rate is at its least. By being constantly updated on currency exchange rates online, you will eventually save a lot. Some organizations such as Wall Street Forex have a rate alert option, which notify you on the rate that you are looking forward to. You can buy your forex smartly up to 60 days in advance from the travel date and thus book at the most lucrative rate available then.

The world of forex is ever changing and it requires diligence to ensure you are aware and updated to make the most of any situation. Wall Street Forex is ever-ready to guide you in the right direction with regards to all your forex needs.


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