Sending money abroad is a common need for many international students. Whether it is paying tuition fees, covering living expenses, or sending funds to family members, international transfers can sometimes feel complicated. Traditional banks often charge high fees and add hidden markups to exchange rates, making the process more expensive than expected.
Platforms like Wise have simplified international transfers by offering transparent fees and real exchange rates. This makes it easier for students to send money abroad without worrying about unnecessary charges.
Through Inforens, students can also access exclusive benefits when opening a Wise account, helping them save more when transferring money internationally.
Why International Students Need International Transfers
Students studying abroad frequently need to send or receive money between countries. Some of the most common situations include:
• Paying university tuition fees
• Covering accommodation deposits or rent
• Managing living expenses abroad
• Sending or receiving financial support from family
Because these transfers often involve large amounts, choosing a reliable international transfer platform is important.
What Is Wise and How Does It Work?
Wise is a financial technology platform that makes international money transfers faster, cheaper, and more transparent.
Unlike traditional banks, Wise uses the mid-market exchange rate, so there are no hidden currency markups on transfers. Users can clearly see the exchange rate and the transfer fee before completing the transaction.
Students can also use tools like the Wise Currency Converter to check real-time exchange rates and estimate how much money the recipient will receive.
Step-by-Step Guide to Transfer Money Internationally Using Wise
Sending money internationally through Wise is simple and can be completed in a few steps.
1. Create a Wise Account
Sign up using your email address and basic personal details.
2. Verify Your Identity
Upload the required identification documents to complete the verification process.
3. Enter Recipient Details
Add the recipient’s bank account information and select the currency for the transfer.
4. Review Exchange Rates and Fees
Wise clearly shows the exchange rate and transfer charges before you proceed. You can also check the Wise Compare Exchange Rates to see how Wise compares with traditional banks.
5. Complete the Payment
Fund the transfer using your bank account or debit card. Once confirmed, you can track the payment until it reaches the recipient.
Why Many Students Prefer Wise for International Transfers
Many international students choose Wise because it offers several advantages compared to traditional banking transfers.
Transparent Exchange Rates
Wise uses real mid-market exchange rates with no hidden markups.
Lower Transfer Fees
Compared to many banks, Wise offers lower international transfer fees.
Fast Global Transfers
Payments can reach recipients quickly depending on the currency and destination.
Multi-Currency Account
Users can hold and manage money in multiple currencies within one account.
Easy Online Platform
Transfers can be managed through both the website and the mobile app.
Exclusive Benefits for Students Through Inforens
Students who open a Wise account through Inforens may be eligible for several benefits designed to make international transfers more rewarding.
These benefits include:
• Send up to £500 internationally with zero transaction fees
• Receive a free Wise debit card if you are already outside India
• Get £10 cashback from Inforens after spending £200 with your Wise debit card or transferring £200 from India to the UK
These offers help students reduce the overall cost of sending money internationally while making cross-border payments more convenient and affordable.
What Information Is Needed for an International Transfer?
Before sending money abroad, students should prepare a few important details.
You will typically need:
• Your Indian bank account details
• The recipient’s bank account information
• Identification documents for verification
• PAN card for Indian financial compliance
In some cases, international transfers may also require banking identifiers such as SWIFT/BIC codes or an IBAN depending on the destination country.
Having these details ready helps ensure the transfer is completed smoothly.
Wise Debit Card for Students Studying Abroad
Students studying outside India may also benefit from the Wise Travel Card.
This card allows students to spend money internationally without paying high foreign transaction fees. It supports multiple currencies and can be useful for everyday expenses such as groceries, transport, or online purchases.
It is important to note that the Wise debit card is not issued within India, but students living abroad can request delivery in their destination country.
Note: If you're studying in the UK, this is a great opportunity to get a no-fee, international card with cashback rewards.
Tips to Save Money on International Transfers
International transfers can become expensive if students are not careful. Here are a few tips that can help reduce costs:
• Always check exchange rates before sending money
• Compare transfer fees across different platforms
• Use trusted international payment services
• Double-check recipient bank details before confirming the transfer
Following these steps can help ensure your money transfer is secure and cost-effective.
Common Mistakes Students Should Avoid
Some students unintentionally create problems when sending money internationally.
One common mistake is entering incorrect bank details, which can delay the payment. Another issue is ignoring exchange rates, which can increase the total transfer cost.
Students should also avoid sending large transfers through unverified agents or unofficial channels, as this increases the risk of fraud.
Using a trusted global transfer platform helps minimize these risks.
How Inforens Supports International Students?
Inforens helps students simplify different aspects of the study abroad journey. From application support and scholarship guidance to financial tools and international transfer solutions, the platform provides resources designed to make studying abroad easier.
By connecting students with reliable global payment solutions, Inforens helps them manage international finances with greater confidence.
Conclusion
Transferring money internationally from India does not have to be complicated. With modern financial platforms designed for global payments, students can send money abroad more easily and at a lower cost.
Using Wise allows international students to benefit from real exchange rates, transparent fees, and a simple transfer process. Through Inforens, students can also access exclusive offers that make international transfers even more rewarding.
By understanding the process and choosing reliable financial tools, students can manage their international payments smoothly and focus on their academic journey abroad.
Ready to stop overpaying for cross-border transfers?
With Inforens, you get access to a strong international student community, guidance from experienced mentors with whom you could book personalized calls, and our expert professionals who can help you throughout your study abroad journey!