How to transfer tuition fees for studying in the United States to spend less?

How to pay tuition for American graduate students studying abroad?

1, bank wire transfer

Features: the price is low, the handling fee is about 50 to 260 yuan, the telegram fee is 150, and the intermediary bank and the arrival fee are about 30 to 50 dollars. The total cost is about 400 yuan to 700 yuan, and the arrival time is about 3 to 4 working days.

Disadvantages: the hidden time cost is high (traffic jams, queues, complicated wire transfer forms, which may give parents who don't know English a headache. On average, it takes at least half a day from going out to exchanging foreign exchange and remittance), and banks do not accept settlement and sale of foreign exchange on Saturday and Sunday. There will be a foreign exchange limit of $50,000 for bank wire transfer, which is probably too high. The bank is not responsible for auditing the accounts, so it needs to audit the accounts with the school itself. The bank does not take the initiative to explain the problem of full payment. If the amount of underpayment due to intermediary bank fees is $65,438+05-25, schools often think that tuition fees have not been paid in full, which must be noted.

2. Easy to turn into easy water

Features: The largest online payment platform for studying abroad in China has been popular in major universities in North America in recent two years. Through direct connection with hundreds of universities in the United States, if you go to the United States for graduate study, you can complete the payment through the safest U-Shield online banking of any domestic bank by simply filling in your ID card and basic information. Compared with banks, it is more professional and convenient. The handling fee is between 0.3% and 0.5% (including all telegraph fees, handling fees, intermediate bank fees and receipt fees), and the exchange rate is real-time and does not occupy any foreign exchange quota. It will take about 2 to 3 working days to arrive. You can check the account status online through WeChat and PC. After the account arrives, the customer service will inform you by SMS, email, etc. Customer service is very responsible, not only helping some parents who don't know much about computers to make online banking payments, but also urging them to pay tuition fees that are about to expire for free.

Disadvantages: Due to the bank's channel restrictions on third-party payment companies, the credit card limit is small, so try to pay with a savings card.

3. Peer remittance \ Western Union remittance

Features: Both of them are old-fashioned international cross-border payment platforms. They can cooperate with hundreds of institutions and find their own institutions online to pay. There is no handling fee, but the exchange rate is higher. For example, the real-time exchange rate is 6.20, which is basically around 6.28 to 6.35, but the comprehensive handling fee is still cheaper than credit cards. The arrival time is about 3 working days, and the full amount will be received. Customer service is also very nice, but it is all in English, and parents with poor English may have a headache.

Disadvantages: External websites are usually slow to log in.

4. Credit card

Features: Easy to use. Parents only need to give their children a US dollar credit card supplementary card in China, and charge their children's tuition and fees to the school account. Parents return RMB to the main card in China. If the main card is linked to another RMB account in China for automatic repayment, the bank will automatically repay according to the exchange rate on the repayment deadline day every month, without going to the bank all the time. However, it should be noted that paying tuition by credit card involves the credit limit of credit card.

Disadvantages: high handling fee. In foreign countries, credit card organizations will charge tuition fees and pass them on to students, about 3%.

You can choose according to your actual situation!