BookMyForex has launched the “BookMyForex Student Offer,” a promotion designed specifically for Indian students heading abroad for new academic term. The offer features zero-fee remittances with guaranteed exact amount for transfers up to 1,000 units in any currency, along with up to Rs 5,000 cashback on international money transfers.
Additionally, students can enjoy up to a 25 per cent discount from MakeMyTrip on international flights and hotels, as well as deals on airport services and overseas accommodations. This offer is available exclusively through the BookMyForex website or mobile app.
Commenting on the launch, Sudarshan Motwani, Founder and CEO, BookMyForex.com, said, “Many students need small remittances under $1,000 for various expenses like obtaining prospectuses and making small payments for admission-related services. The high transfer charges and intermediary fees from most banks can be quite burdensome. Therefore, we’ve decided to waive all remittance charges for cross-border wire transfers up to $1,000 or 1,000 units of any foreign currency.”
The number of Indian students pursuing higher education abroad is rising, with projections indicating that by 2025, two million Indian students will be studying in foreign universities, spending up to $70 billion. The United States (US), Canada, Germany, the United Kingdom (UK) and Australia are the top destinations. This presents a significant opportunity for the remittance market, with the latest RBI data showing outward remittances under the Liberalised Remittance Scheme (LRS) reaching $31.73 billion in FY24.
Motwani added, “Our partnerships with reputed private banks ensure secure international transactions at better rates—up to five per cent better than those offered by banks and other FinTech players. By eliminating transfer fees and providing substantial cashback rewards, we aim to boost our growth rate beyond 50 per cent, demonstrating our commitment to exceptional value in the remittance market.”
