JS / Business / Remittance for Studies Abroad

Remittance for Studies Abroad

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JS Bank Customers can now avail our remittance facility for financing students that are studying abroad.

Customers may remit up to USD 70,000 or equivalent in other foreign currencies to a student studying abroad. This is applicable to a single STUDENT per CALENDAR year. However, such remittances can only be made for the following purposes in order to facilitate the student.

a. Remittance on account of Application / Processing charges for admission in accredited and recognized institutions/universities abroad.

  • There is no restriction on the number of institutions to which a student can apply for admission.
  • However, all such payments are subject to documentary evidence reflecting the application/processing charges for admission.

  • b. Remittance for Tuition Fee, Living Expenses and other dues i.e. health, insurance, union, sports, library fees etc. for the student on the basis of following documents.
  • Application Form on SBP’s prescribed format Appendix V-78 duly filled in by the student/parent/guardian.
  • Copies of Computerized CNIC / Form “B” of the student and CNIC of the Parent / Guardian
  • Copy of the Passport of the student.
  • Letter of Admission from the foreign educational institution.
  • Letter / Cost sheet from foreign educational institution showing break-up of expenses.

  • c. Remittances to the foreign educational institutions or the student.
  • Dues, including Tuition Fee should be remitted directly to the educational institution via SWIFT, Telegraphic Transfer or Demand Draft and not remitted/released to the student.
  • Living or miscellaneous expenses as indicated by the respective foreign institution/university, if not being remitted to the institution, can, however, be sent to the student himself via SWIFT, Telegraphic Transfer or Demand Draft.

  • d. The student is also entitled to receive Cash Foreign Exchange equivalent to US Dollars 5,000/- to meet the initial expenses related to boarding/lodging and/or other requirements travelling abroad against endorsement on his/her/their passports(s). However, the student entitled to receive the cash foreign exchange shall submit the duly filled-in and signed Form T-1 (Appendix V-64) to the bank for releasing the cash foreign exchange.

    For further information please visit our JS Bank Branch or call 111 654 321

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