Indian students studying abroad can utilize RBI-authorized bank wire transfers (SWIFT), forex cards, and digital remittance platforms (like BookMyForex or Wise) to transfer funds under the Liberalised Remittance Scheme (LRS), which allows up to USD 250,000 per financial year. These methods allow for payment of tuition fees, living expenses, and accommodation, generally requiring PAN cards, university offer letters, and fee invoices.

For cost-effective transfers, online platforms often offer better exchange rates and lower fees than traditional bank wire transfers, which can have high transaction charges and slower, 2-3 day processing times. It is recommended to use Authorized Dealer II licensed, secure providers, plan for potential 20% Tax Collected at Source (TCS) threshold limits, and pay intermediary bank fees upfront to avoid deductions from the beneficiary amount