How to Transfer MBBS Fees from India to Bangladesh Legally

Sending Money Abroad: The Legal Way

Paying tuition fees to a foreign medical university can seem daunting. It is crucial to understand that all fee transfers must comply with the Reserve Bank of India (RBI) guidelines under the Liberalised Remittance Scheme (LRS). You cannot carry massive amounts of cash across the border; it is illegal and highly risky.

The SWIFT Transfer Method

The standard and safest way to pay your college fees is via a Wire Transfer (SWIFT). Here is the step-by-step process:

1. Obtain the College Invoice: Before the semester begins, the Bangladesh medical college will issue an official invoice stating the exact amount due in USD, along with their official bank account details, SWIFT code, and routing numbers.
2. Visit Your Bank in India: Go to an authorized dealer bank in India (e.g., SBI, HDFC, ICICI) with your PAN card, Aadhar card, the college invoice, and your admission letter.
3. Fill the A2 Form: This is a mandatory RBI form for foreign remittances. You will specify the purpose code as 'S0305' (Travel for education).
4. Processing: The bank will convert your INR to USD at the day's exchange rate, deduct a small processing fee and applicable TCS (Tax Collected at Source), and initiate the transfer.

Important Reminders

Never transfer tuition fees to a consultant's personal bank account. Always transfer directly to the official university account mentioned in your admission letter. NilEducation provides full assistance to parents at the bank to ensure the A2 forms and SWIFT transfers are processed without errors.