What is SWIFT / Wire Transfer?
Meaning, Full Form & Guide (2026)
Quick Definition
A SWIFT wire transfer is the standard international bank-to-bank payment used to send tuition fees, blocked account deposits, and GIC payments from India to overseas institutions. Transfer fees range ₹500–2,000 per transaction. TCS (0.5%–5%) applies under the LRS for remittances above ₹7 lakh.
SWIFT / Wire Transfer — Full Explanation
Process: obtain university's SWIFT/bank details → initiate at your Indian bank → funds arrive in 1–5 business days. Alternatively, use Flywire or PayMyTuition (university-preferred platforms) for cheaper, faster, tracked payments. Wise offers better exchange rates than most Indian banks.
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