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Sending Money from India to Russia: A Guide for Parents.

From Your Wallet to Their Ruble Account: Money Transferring to Your Med Student in Russia (Without Getting Stolen!)

 

So, you're sending money to your son studying MBBS in Russia? Good job! It's not easy keeping them so far away, but making sure they are well-provisioned financially matters. Sending money abroad can be tricky, but don't worry, I've been there, done that (my niece was to Ireland!). Let's unscramble sending those rupees to rubles safely and without losing too much in fees and bad exchange rates.

 

Why on Earth Do They Need Money Anyway? (It's Not All for Pizza, Promise!)

 

Okay, besides every once in a while pizza night, here's why your child actually does need money for:

 

• Rent & Utilities: If it's a dorm room or apartment, rent is a killer. And don't forget electricity and internet.

• Food (More Than Just Pizza!): Groceries at the store and maybe the occasional dinner out.

•  School Stuff: Schoolbooks (damaged, maybe!), lab equipment, maybe some classes online as well.

•  Doctor Visits (Hope None Are Needed Too Often!): You never know when they may need a doctor visit or buy medicine.

•  "Just In Case" Fund: Need some cushion to cover unexpected costs for something like losing a passport or missing a flight.

•  Life! Have them travel to Russia (of course, with caution!), mingle with people, and have some fun.

 

When to Send It?

 

Timing is everything! Here's a rough guide:

 

•  Beginning of Semester: A lump sum for rent, registration, and getting settled.

•  Regular Top-Ups: Send money monthly or bi-monthly for daily use.

•  Oh Crap! Moments: Save for surprise expenses. Better to prepare than have your child have a tantrum.

 

The Money Transfer Showdown: Which Method is Best?

 

Okay, here are the main ways to send money, and the pros and cons:

 

•  Old-School Bank Transfer:

  •  Good: Feels safe and reliable.

  •  Bad: Slow! Takes days, and often has higher fees and not-so-great exchange rates.

•  Online Money Transfer Services (UPI):

  •  Good: Faster than banks, often cheaper, and easy to use online or on your phone.

•  Bad: Transfer limits might exist, and certain services are not available everywhere in Russia.

•  Money Transfer Agencies (Western Union, MoneyGram):

  •  Good: Quick and easy, lots of outlets.

  •  Bad: Usually the most expensive option! More expensive fees and worse exchange rates. Only resort to this if absolutely necessary.

•  Forex Brokers (For Big Transfers):

•  Good: Better exchange rates when you're sending a large sum.

  •  Bad: More work than other services. Takes paper and research.

 

Important Things to Think About (Before You Hit "Send"):

 

•  Exchange Rates: Shop Around! Don't just accept the first rate you come across. Compare different services in order to get the best rate.

•  Fees, Fees, Fees! Read the fine print! Know precisely how much you're paying in fees.

•  How Fast Do They Need It? Some are quicker than others. Consider that in your decision.

•  Security Matters: Use well-established companies with solid security protocols.

•  Taxes (Ugh): Be cognizant of any tax implications. Consult with a tax professional if you're unsure.

 

Indian Rules You Should Know (LRS & FEMA - Don't Ignore These!):

 

Sending money from India is regulated, so pay attention!

 

•  The LRS Limit: You can send up to $250,000 USD per year without prior approval. Sending money for your child's education falls under this.

•  KYC is Key: You'll need to provide your PAN card, Aadhaar card, and passport.

•  Form A2 (Perhaps): You might need to fill out this form, explaining why you are remitting the money.

•  TCS (Tax Collected at Source): Th ere can be tax collected on money you remit above a threshold. Ask your bank or transfer service what the prevailing TCS rates are.

 

Step-by-Step: Getting the Money There

 

1. Choose Your Weapon (Transfer Method): Choose the best method for you from the advantages and disadvantages described above.

2. Register & Verify: If you are working with an online service, register and verify yourself (KYC business).

3. Obtain Their Bank Details: You will need your child's bank name, account number, SWIFT code (essentially an international routing code), and bank address. Double-check this!

4. Enter Amount: Let them know how much INR you want to send, and the service will let you know how much RUB your kid will get.

5. Pay Up! Choose how you want to pay: bank transfer, credit card, or debit card.

6. Track It! Most services let you track the transfer.

7. Tell Your Kid! Let them know you sent the money and give them the tracking number.

 

Pro Tips for Sending Like a Pro:

 

•  Double-Check EVERYTHING! Especially the bank details! One wrong number and the money could disappear.

•  Compare, Compare, Compare! Don't just go with the first option.

•  Read the Fine Print! Know all the fees involved.

•  Keep Good Records: Save all receipts and transfer confirmations.

•  Confirm Receipt: Make sure your kid actually got the money!

 

Sending money to your child in Russia doesn't have to be a hassle. Do your research, shop around, and listen to the regulations. You'll get those rubles where they need to go, and your child will be that much closer to being a doctor! Good luck!

 

SIMPLE ADMISSION PROCESS

No hefty donations, no entrance exams, no hassle for documentation just your dream MBBS study and you. RUS OVERSEAS does everything for you from scratch. We make sure you don’t have to do rounds of rotation and get fed up with the process of admission. From beginning to end, we are with you.

 

THE PROCESS

Eligibility: 

• 50% in PCB (40% for SC/ST/OBC) in Class 12.
• Minimum 17 years by December 31 of the admission year.
•   NEET Qualification: Mandatory for Indian students.

 

Invitation letter: 

After RUS OVERSEAS submits your documents in the university. The university issues you an invitation letter. 

 

Visa process: 

Once the invitation letter arrives. The company will start your visa processing and in a few days you will be on the plane to Russia. 

HOW RUS OVERSEAS HELPS YOU IN YOUR JOURNEY

RUS OVERSEAS has the experience of more than a decade. Our team is supportive and cares for the students wholeheartedly. We are available 24/7. Your one stop solution for MBBS abroad is us. We at RUS OVERSEAS will never disappoint any student or parent in their fulfilling journey with us.

 

CONTACT US

Phone: +91 9560533703

Email:  info@rusoverseas.com