Paying for international boarding schools: A comprehensive guide

Article

Euan Robb

When it comes to our children's education, ensuring they receive the best is a priority for most parents. International boarding schools often top the list for their unmatched quality of education, diverse cultural exposure, and positive learning environments. But with such esteemed institutions comes the concern of making payments abroad. With a range of options available, it's essential to understand the most effective and economical ways to pay for these schools.

Enter Equals Money's international payments service: your seamless solution to foreign exchange needs.

About Equals Money

Why choose an international boarding school?

International boarding schools offer a unique blend of world-class education and global perspectives. Students not only learn from an internationally recognised curriculum but also interact with peers from various cultural backgrounds. This cultivates a sense of global citizenship, adaptability, and broadened horizons.

The financial side of international boarding

While the benefits of international boarding schools are many, they come with a hefty price tag. Tuition, boarding expenses, extra-curricular activities, and other additional charges can add up. Transferring money abroad often involves currency conversions, transfer fees, and potential fluctuations in exchange rates.

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Choosing the right payment method

Bank transfers: Traditional bank transfers may seem like the obvious choice, but they can come with less than favourable exchange rates and potentially hidden fees.
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Credit cards: Using a UK credit card might attract foreign transaction fees. Additionally, not all schools accept card payments due to processing fees.
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Online payment platforms: While convenient, they might not offer the best exchange rates and may charge a service fee.
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Equals Money international payments: Equals Money offers competitive exchange rates, personal service, and a hassle-free process. They understand the complexities of international payments and ensure that your money reaches its destination swiftly and securely.

Why Equals Money is the ideal choice

Competitive exchange rates: Equals Money provides competitive rates for over 140 different global currencies.
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Speedy transactions: With same-day and next-working-day transfers, Equals Money's international payments service is both fast and reliable, makin sure your funds reach their destination when they need to.
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Dedicated support: Their team of experts is always on hand to guide you through the process and answer any queries.
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Forward contracts: Currency exchange rates fluctuate constantly, and this can impact the amount you will pay for school fees in GBP. Equals Money offers payment solutions such as forward contracts that allow you to fix a current exchange rate for a payment or transfer up to 24 months in advance. This allows you to know in advance how much fees will cost you in GBP and budget effectively.* You are committed to the rate you’ve booked regardless of how it moves after the fact, presenting a potential disadvantage in choosing a forward contract. However, many looking to pay out for international schooling find the stability offered by a forward contract outweighs this disadvantage.
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Closing thoughts

Sending your child to an international boarding school is a significant investment in their future. Ensuring that your hard-earned money is transferred securely and efficiently is paramount. With Equals Money's international transfer service, you're not just choosing a payment method; you're choosing peace of mind.

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*Equals Money can only offer forward contracts to facilitate payments for goods and services.