"Paying tuition fees" is a very small part of studying abroad, but it is a part that allows no mistakes and must not be careless. Today, I will work with my editor to see which is the most reliable way to pay tuition for studying in the United States?
Which kind of tuition payment method is better for studying in the United States?
1、 Traditional bank foreign exchange transfer
Bank transfer must be operated at the bank counter. The process is cumbersome. In recent years, due to increasingly strict foreign exchange control, when a single remittance amount exceeds 10000 US dollars, it is troublesome to provide the bank with many supporting materials for additional declaration.
In addition, only when the purchase and transfer of foreign exchange occur simultaneously can the bank wire transfer not occupy the foreign exchange quota of 50000 dollars per person per year. If you want to purchase foreign exchange first and transfer it the next day because you don't have all the information, the limit of foreign exchange limit is a problem that must be considered.
Time of arrival: about 3 working days, slightly different for different banks, but generally not more than 5 working days. However, it usually takes longer to receive formal confirmation from the school.
Fees: Four kinds of fees are required for bank foreign exchange transfer:
Telegram fee: 100-150 yuan, which has nothing to do with the remittance amount, and is charged by transaction.
Service charge: according to the remittance amount, different banks.
Intermediary bank fees: charged according to the amount of remittance, and we shall bear the "our" when filling in the remittance form.
Foreign bank entry fee: $15-30, charged per transaction.
Among them, the fourth item, "foreign bank entry fees", is unexpected. Usually, this part of fees will be directly deducted from the remittance amount, resulting in insufficient tuition fees actually remitted to the school's account, resulting in late fees and many troubles such as children's inability to attend school and choose courses normally.
According to the latest regulations of the China Administration of Foreign Exchange, when directly remitting money to the school, the bank requires to issue relevant materials, including admission letters, tuition bills, student visas and students' own relevant certificates. The above materials are required for either exchange and re remittance or direct transfer of existing foreign currency reserves. The admission letter and tuition bill must include the name of the student, the name of the school and the LOGO.
And the transfer amount must be consistent with the bill amount issued by the school. If a single transfer is more than 50000 dollars and the fee list is more than one semester, the student's own student card is also required.
2、 Opening an account in the United States
Usually, for older students who have studied abroad for a certain period of time, their parents will choose to transfer their living expenses and tuition fees to their overseas accounts, and then the students will go to school to pay for them. In this case, since it is not a direct remittance to an educational institution, all the amount remitted should be included in the foreign exchange line of US $50000, and the four handling fees mentioned above should be paid.
The process of opening an account in the United States is very complicated, but after the first trouble, the following process is relatively easy. However, for freshmen who have just received offers this year, they cannot make payments in this way because they do not have the qualification to open foreign accounts.
3、 Credit card
The characteristics of using credit cards are fast and expensive. Generally, 2%~3% of the service fee is charged. Taking 20000 US dollars as an example, the service fee will be about 3000 yuan. Even if the expense is cancelled, the service fee will not be refunded. For students who hold multiple offers, credit cards can buy time to some extent.
Many parents choose to apply for a subsidiary card of US dollar credit card for their children in China, and pay their children's school fees to the school account. Parents return RMB to the main card in China. If the main card is linked to another domestic RMB account for automatic repayment, the bank will automatically repay the money according to the exchange rate of the day when the monthly repayment deadline is reached. There is no need to run away from the bank.
However, it should be noted that some foreign universities have canceled the channel of receiving tuition fees through credit cards.
4、 Carry cash
Although carrying cash can be proved, it is always unsafe for children to carry so much cash with them, so carrying cash is probably the last way after all the above methods.
The maximum limit of withdrawing US dollars from the bank is about 5000 to 10000 US dollars. The bank can issue a foreign exchange carrying certificate with a certain amount of foreign currency, and then it can carry foreign currency out of the country.
