Indoglobe facilitates outward Remitance across the globe from India Such as Tution fees , college transfer , University transfer personal account transfer GIC payments living expenses
family maintenance & NRI repetition
¢ Platform of Remittance
¢ Account to account transfer
¢ Through Flywire
¢ Through CIBC
¢ Through Convera
¢ Through Pay my Tuition
The process of student fees (outward) remittances generally involves several steps to ensure that payments are securely and correctly transferred from the
student to the educational institution. Here are the typical steps involved:
Initiation of Payment:
The student initiates the payment process by deciding to pay their tuition fees to the educational institution. right at the coast
Selection of Payment Method:
The student selects the preferred method of payment, which could include bank transfer, online payment gateway, credit/debit card, or other approved
methods (Flywire, Convera, Pay my tuition, CIBC and Direct Banking Details).
Generation of Invoice or Payment Request:
Student generates an invoice or payment request specifying the amount of tuition fees to be paid, along with any necessary details such as student ID,
course details, and due dates.
Currency Exchange (if applicable):
If the payment is made in a currency different from the institution’s local currency, the student may need to arrange for currency exchange through their
bank or a foreign exchange provider.
Payment Submission:
The student submits the payment to the designated bank account or payment gateway of the educational institution. This may involve entering payment
details online or visiting a bank branch.
Confirmation of Payment:
The educational institution receives confirmation of the payment from their bank or payment gateway. This confirmation typically includes details such as
the amount paid, date of payment, and student information.
Allocation of Payment:
Upon receipt of the payment confirmation, the educational institution allocates the payment to the student’s account. This involves updating the student’s financial records to reflect the payment made towards tuition fees.
Receipt and Acknowledgment:
The educational institution issues a receipt or acknowledgment to the student confirming that the payment has been received and applied to their account.
This serves as proof of payment for the student’s records.
Communication of Payment Status:
If necessary, the educational institution communicates the payment status to the student, confirming that the paymlat has been successfully processed
and applied.
Reconciliation and Reporting:
The institution reconciles all incoming payments periodically to ensure the accuracy and completeness of financial records. They may also provide reports
to students or parents upon request, detailing payment history and current balances.
Gather the necessary documents required by your bank or financial institution for initiating an outward remittance. This may include identification
documents, proof of purpose (such as invoices for goods/services), and any other relevant paperwork.
¢ Authorization: Obtain authorization or approval from relevant authorities, if needed. For example, businesses may need approval from regulatory
bodies for certain types of outward remittances.
¢ Bank Instructions: Provide your bank with instructions for the outward remittance, including the amount to be transferred, the recipient’s details
(such as bank account information and address), the purpose of the transfer, and any other required information.
¢ Currency Conversion: If the outward remittance involves converting one currency to another, your bank will hpndle the currency conversion
process. Be aware that exchange rates may apply, and banks may charge fees for currency conversion.
* Transaction Processing: Once all the necessary information is provided and verified, your bank will process the outward remittance transaction.
This may take some time depending on the bank’s policies and procedures.
¢ Confirmation: After the outward remittance is processed, you should receive confirmation from your bank. This confirmation typically includes
details such as the transaction reference number, the amount transferred, and the date of the transaction.
* Monitoring: Keep track of the status of your outward remittance, especially if it’s a significant amount or if there are regulatory requirements to
fulfill. Follow up with your bank if needed to ensure that the transfer reaches the intended recipient smoothly.
It’s important to note that the specific process and requirements for outward remittances may vary depending on factors such as the country you are
sending money from, the destination country, the purpose of the remittance, and the policies of the financial institutions involved. It’s recommended to
consult with your bank or financial advisor for detailed guidance tailored to your situation.
Indoglobe offers secure and lightning-fast remittance services, ensuring your money reaches its destination swiftly and securely. With our encrypted
platform and adherence to international regulations, your transactions are safeguarded at every step. Experience the ease of sending money worldwide,
providing timely support to your loved ones without any hassle.
Indoglobe provides remittance services that span across continents, allowing you to send money to your loved ones wherever they are in the world.
Our streamlined processes ensure that your remittance transactions are completed swiftly, so your recipients receive the funds they need without
delay.
We offer competitive exchange rates to ensure that your money goes further, providing optimal value for your remittance transactions.
1. Peace of Mind: With Indoglobe, you can have peace of mind knowing that your remittance transactions are secure and compliant with international
regulations, safeguarding your funds and personal information.
2. Convenience: Say goodbye to long queues and paperwork associated with traditional remittance methods. With Indoglobe, you can send money
with just a few clicks, saving you time and effort.
3. Support for Families: Our remittance services enable you to provide financial support to your family members back home promptly, helping them
meet their immediate needs and pursue their aspirations.
4. Transparent Fees: We believe in transparency, which is why we provide clear and upfront information about our fees, ensuring that you understand
the costs associated with your remittance transactions.
5. Customer Service: At Indoglobe, we prioritize customer satisfaction. Our dedicated support team is available to assist you with any queries or
concerns you may have, ensuring a seamless remittance experience.