At present, remittance for studying abroad mainly includes telegraphic transfer, money order, traveler's check and international express remittance (such as quick money transfer and Western Union remittance). The money order is the cheapest, but it takes a long time to arrive. The draft is applicable to international students who have gone abroad for the first time and have not yet opened a bank account abroad. Many international students accept money orders abroad. At present, many banks, such as workers and peasants China Construction, CITIC, Shanghai Pudong Development Bank, China Merchants Bank and China Everbright Bank, can draw bills of exchange.
Generally speaking, foreign currency bills only need a handling fee of 0. 1%, ranging from 20 yuan to 250 yuan. When foreign currency cash is used to handle bills, the difference between foreign exchange buying and selling is calculated according to the actual buying price and foreign exchange selling price. But the draft needs to be carried with you, and it will be more troublesome to reissue it in case it is lost. At the same time, payment of bills of exchange needs to be collected in foreign banks, and the collection time is relatively long, generally 40-60 days.
Compared with money orders, telegraphic transfer is safer and faster, which is suitable for international students who have gone abroad and have accounts abroad. However, overseas wire transfer includes two expenses: the handling fee is basically calculated by the bank at 0. 1% of the remittance amount, and the telecommunication fee varies from 80- 150 yuan. For example, the telecommunication fee of BOC: every trip to 80 yuan, Hong Kong, Macao and Taiwan 150 yuan.