Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Aiming to simplify the
process in foreign currency payment, it provides students and their families a
completely digital experience, when making tuition payments for their overseas
education. About 78% of wealthy Indian
parents either want to send their children abroad for studies or already have a
child studying overseas.
With this new feature
on the HSBC India mobile banking app, customers can select the country or
territory and the university and get pre-loaded, pre-verified account details
of the university. They can then add student details, upload loan documents,
make a payment request instantly and securely through the mobile app and
benefit from reduced remittance costs compared to other international education
payment options available. Customers can also place a transfer request if the
funds are from education loan from 80E entities and can benefit from the
reduced TCS (tax collected at source) rate of 0.5%2.
The global education payments service enables
direct transfer to 600+ universities across five countries and territories,
including US, UK, Canada, Hong Kong and Australia for all university expenses
including tuition fees, accommodation, healthcare / insurance provided by university
and other university expenses. The payments are subject to LRS limits and banking regulations.
Commenting on the
launch, Sandeep Batra, Head, Wealth and Personal Banking, HSBC India, said,
“For many affluent families, international education is a significant
investment, with parents often prioritizing their child’s overseas education
over their retirement. With our Global Education Payment that is
cost-effective, transparent, and completely digital, customers can benefit from
a secure and streamlined payment experience. We have a very strong proposition
for the global Indian and this launch strengthens our offerings and reinforces
our position as the preferred international bank.”
The Global Education
Payments launch reinforces the suite of HSBC International products and
services available for globally bound Indians, including account opening via a
digital and frictionless journey before students arrive in their destination;
single view of all HSBC accounts across the globe in one place; simple, fast
and competitively priced payments via Global Money Transfers; portability of
their existing HSBC credit history to apply for a HSBC credit card in the new
country (subject to local regulations, Premier status and applicable channels);
access global wealth options through International Wealth Hubs; managing their
banking needs in different time zones across multiple countries with global
support; and access beyond banking services like tax solutions, relocation
support, children overseas education needs and more through HSBC’s global
partners.
With Global Education Payments you can
simplify your child’s overseas education payment with HSBC in just four easy
steps on the HSBC India mobile banking app:
1.
Select your country and university
2.
Add transfer amount
3.
Update student information
4.
Upload loan documents
