For Students & Parents

Student Forex & Remittance Assistance

Foreign currency, forex-card support and education-remittance assistance for students studying abroad. We help with documentation, LRS and TCS guidance, rate coordination and submission through our partner AD banks and AD Category-II entities.

Popular Destinations

Assistance for All Major Countries

Tuition, accommodation, living expenses — any university-related payment covered.

🇬🇧

United Kingdom

GBP — British Pound

Rate: ₹107.00–₹109.50

🇺🇸

United States

USD — US Dollar

Rate: ₹84.20–₹85.80

🇦🇺

Australia

AUD — Australian Dollar

Rate: ₹53.80–₹55.10

🇨🇦

Canada

CAD — Canadian Dollar

Rate: ₹61.80–₹63.20

🇩🇪

Germany

EUR — Euro

Rate: ₹91.50–₹93.20

🇸🇬

Singapore

SGD — Singapore Dollar

Call for rate

🇳🇿

New Zealand

NZD — New Zealand Dollar

Rate: ₹50.20–₹51.80

Other Countries

150+ countries covered

Call for rates

How It Works

How Remittance Assistance Works

Call / WhatsApp +91 9676321959 with amount and university details

Get an Indicative Quote

We share a competitive indicative rate and the documents the partner will need

Submit Documents

Passport, PAN, offer letter — we guide you on exact requirements

Partner Review

The authorised partner institution reviews the request against its KYC, FEMA and LRS requirements

Processing & Confirmation

On approval the partner processes the remittance and issues confirmation. Timelines are set by the processing institution

Our assistance includes

Preliminary document review

Beneficiary-detail checking

Form A2 assistance

LRS-purpose selection guidance

TCS-related explanation

Student & remitter KYC coordination

Submission to the authorised processing partner, with status follow-up

Eligible requirements may include

University / college tuition fees

Student accommodation and living expenses

Examination or registration fees

Application fees

Deposits requested by an educational institution

Other eligible education-related payments

Important. Best Deal Forex does not independently process transactions that fall outside the scope of its FFMC authorisation. Such remittances are submitted to and processed by an appropriately authorised partner institution (an AD Category-I bank or AD Category-II entity). Final acceptance, rate, TCS treatment, documentation and execution remain subject to that institution's approval.

Requirements

Documents Required

Mandatory Documents

Valid Passport (student's) — copy front and back

PAN Card — mandatory for all LRS remittances

University offer letter / admission confirmation

Fee demand letter from the university / institution

Bank account statement (3 months, source of funds)

Additional (if applicable)

Education loan sanction letter (for NIL TCS on the loan-funded portion)

I-20 / CAS / CoE / Study permit (for US/UK/Australia/Canada)

Previous remittance receipts (if sending multiple payments)

Affidavit of relationship (if parent sending for child)

Form A2 — we assist in filling this out

ℹ️ Document requirements vary by amount and purpose. Our team will confirm exactly what's needed for your specific remittance. Call us at +91 9676321959 for personalised guidance.

LRS & TCS Guidance

Liberalised Remittance Scheme (LRS)

Under RBI's LRS, a resident individual may remit up to USD 2,50,000 per financial year for permitted purposes, including education. PAN is mandatory, and the limit is combined per PAN across all Authorised Dealers and Authorised Persons. We help you understand the operational requirements — purpose selection, financial-year declarations, previous remittances elsewhere and the documents needed — before you transact. This is general operational guidance, not legal or tax advice; the limits and tax provisions in force on the date of your transaction will prevail.

Tax Info

Understanding TCS on Education Remittances

TCS is a tax credit — not an extra charge. You reclaim it in your ITR.

Own Funds — Above ₹10 Lakh

TCS on education remittance from own funds. Claimable in your ITR.

Education Loan — Any Amount

NIL

No TCS where the remittance is funded by an education loan from a specified institution.

Below ₹10 Lakh Threshold

NIL

No TCS on education remittances below ₹10 lakh per financial year.

* TCS rates effective 1 April 2026. The ₹10 lakh threshold is a combined limit per PAN across all Authorised Dealers and Authorised Persons, for all LRS purposes together. Subject to change. Not tax advice — consult your CA for specifics.

Common Questions

Student Remittance FAQs

How much can I send abroad for education?

Under RBI's LRS, you can remit up to USD 2,50,000 per financial year for education purposes. Most university fee payments are well within this limit. Multiple remittances throughout the year are counted cumulatively toward this limit.

How long does the transfer take?

Once the authorised partner institution approves the request, most education remittances reach the destination university within a few business days. Processing time and confirmation, including any SWIFT reference, are provided by that institution — we follow up on your behalf and pass it on.

How much can I save vs my bank?

Rates and charges vary between institutions and move through the day. We can provide an indicative comparison based on the prevailing partner rate and the charges applicable at the time of your enquiry, so you can see the difference on your own amount rather than a worked example.

Can parents send money on behalf of the student?

Yes. Parents can send remittances on behalf of their children studying abroad under the LRS scheme. An affidavit of relationship may be required for certain universities. Our team will guide you on the exact documentation needed.

Do you handle semester-by-semester remittances?

Yes. Many families remit each semester for two to four years. We record the transactions facilitated through us and help you understand your declared LRS utilisation — but the ₹10 lakh threshold is a combined limit per PAN across every authorised dealer, so you remain responsible for disclosing remittances made elsewhere. We assist with documentation and regulatory checks; final acceptance and compliance approval are determined by the authorised processing institution. Returning customers benefit from faster document coordination and access to their previous transaction details, subject to updated KYC.