BookMyForex Enables Same-Day International Transfers for Overseas Education Payments
BookMyForex has launched same-day international transfer services for overseas education payments, enabling funds to reach foreign institutions in six hours through digital platforms. The service addresses timing challenges in education remittances where late payments can attract penalties from universities. The company offers cashback benefits up to ₹15,000 for transactions exceeding ₹3 lakh, operating through RBI-authorised entities and partner banks for regulatory compliance.
*this image is generated using AI for illustrative purposes only.
BookMyForex has introduced same-day international transfer services targeting overseas education payments, addressing the critical timing challenges faced by students and families when remitting fees to foreign institutions. The service enables funds to reach international universities in as little as six hours, significantly reducing the uncertainty associated with traditional banking delays.
Service Features and Implementation
The new transfer system supports end-to-end digital remittances and operates through partner banks and RBI-authorised entities to maintain regulatory compliance. Students and families can initiate transfers digitally through the BookMyForex app and website, streamlining the entire payment process.
| Service Parameter: | Details |
|---|---|
| Transfer Speed: | As little as 6 hours |
| Processing Method: | End-to-end digital remittances |
| Compliance: | RBI-authorised entities and partner banks |
| Access Platforms: | BookMyForex app and website |
Addressing Education Payment Challenges
Education-related payments typically involve multiple high-value transactions with strict deadlines. These include:
- Tuition fees
- Accommodation deposits
- Living expenses
Processing delays across banking systems and time zones often create friction for students and families, particularly when universities operate within narrow fee payment windows where late remittances can attract penalties.
Cashback Benefits Program
Alongside the faster transfer service, BookMyForex is offering cashback benefits on international education-related remittances. The program provides benefits of up to ₹15,000 on a slab-wise basis for transactions exceeding ₹3 lakh, available exclusively on transfers made through the company's digital platforms.
| Benefit Structure: | Details |
|---|---|
| Maximum Cashback: | ₹15,000 |
| Minimum Transaction: | ₹3 lakh |
| Benefit Type: | Slab-wise basis |
| Platform Requirement: | Digital platforms only |
Company Background
Gagan Malhotra, Chief Operating Officer at BookMyForex, emphasized that international education payments are both time-sensitive and high-value, leaving families with limited margin for delays. He noted that predictable timelines and compliant digital execution can help students and parents meet university requirements with greater confidence.
BookMyForex operates as a MakeMyTrip Group entity in the online foreign exchange and international remittance space. The company offers services including forex cards, international money transfers, and foreign currency exchange through a combination of in-house operations and partner networks.
15
