When your child is studying overseas, every transfer you make carries love and support. You want them to feel secure, eat well, buy what they need, and focus on their studies without worrying. Yet as a parent, the concerns never end. Will the money get to them quickly? Are the fees swallowing too much? Will they have easy access when it matters most?

These questions sit at the heart of every parent’s decision, and that’s why choosing the right way to send money is tied to care and peace of mind.

Read also: How to protect your funds while travelling abroad

Common problems parents face when wending money to students abroad

1. High transfer fees

Sending money overseas can get expensive fast. For example, if you send $500 for tuition, banks may charge $20-$30 in fees. It may not sound like much, but repeated transfers for rent, books, or living expenses add up quickly, leaving less for your child’s actual needs.

2. Slow processing times

Waiting days for transfers can be stressful. Imagine your child needs tuition paid by Monday, but the bank takes four days to process. These delays can cause unnecessary anxiety for both parents and students abroad.

3. Unfavorable exchange rates

Banks often give poor exchange rates, meaning your child receives less than expected. Sending pounds or naira to dollars could result in a few hundred dollars less over a semester, affecting their budget for essentials like groceries or books.

4. Limited payment options

Not all services support every currency, and some platforms restrict accounts based on location. Parents may struggle to send funds directly, forcing extra steps or third-party services, which can be confusing and time-consuming.

Read also: What nobody tells you about your first year living abroad

How parents can safely send money to students overseas

1. Bank transfers

Using your bank to send money feels familiar and reliable. It gives you peace of mind knowing funds move directly between accounts. Though fees may be higher, many parents value the trust and security of established banks.

2. Money transfer services

Services designed for international payments make sending money quicker and often cheaper. Needs can be covered in minutes, sometimes even instantly. For parents, this speed is reassuring when tuition or everyday expenses can't wait.

3. Digital wallets

Digital wallets give students fast, easy access to funds using just their phone. Parents can send money in seconds, and students can spend it right away. It’s practical, convenient, and helps with day-to-day money management.

4. Multi-currency accounts

With a multi-currency account, money can be sent directly in the currency the student uses daily. This saves on conversion fees and ensures they receive the full amount. Platforms like Grey make this simple, letting you create accounts in different currencies and send money seamlessly.

Benefits of using Grey to transfer money overseas

Grey makes it simple and reliable, so students always feel supported, no matter the distance.

• Multi-currency transfers: Send money directly in the local currency, ensuring the exact is received.
• Competitive exchange rates: Grey offers better-than-bank rates, so the money supports the student's daily needs without hidden charges eating into it.
• Fast transfers: Transfers are fast, reaching students when they need it most.
• Trusted security: With Grey’s secure platform, your money is always protected.

Seamless transfers for students

At the heart of every transfer is the intent to support someone abroad, and that should never be slowed down by complicated processes or high fees. With Grey, sending money becomes simple, secure, and fast, just the way it should be..

Sign up on Grey or download the app and make every transfer truly count.

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