Covering letter to bank for foreign remittance

Covering letter to bank for foreign remittance – EDUCATION LOAN REMITTANCE – Declaration | Cover Letter | A2 Form – After the education loan is sanctioned,and you have processed all the education loan documents and process, it is a fairly  simple task for the  remittance to go through.Four attachments have to be submitted to the bank/financial institution from where the loan has been procured,in order to facilitate the transfer of funds from the local bank, to the overseas bank account(personal or university) depending if the remitted amount is for personal expenses or for university fees.

Covering letter to bank for foreign remittance

Attachments are:

1.REMITTANCE FORM

2.DECLARATION FORM

3.A2 FORM

4.COVERING LETTER

NOTE:

Fill in the xxxx with the appropriate information marked in brackets

Beneficiary is the person who is going to receive the funds

Beneficiary account number is 11 digits.First 4 digits stand for bank transit number and last 7 digits is the account number.

EDUCATION LOAN REMITTANCE FORM

To,Bank nameAddressReg:Education loan remittance of foreign exchange from my/our savings/current a/c no.  xxxx   ofxxxx(name of applicant) I/we, xxxx (name of applicant) have the above mentioned account with your branch.You are requsted to remit  xxxx(amount in desired currency) as mentioned in form A2 Beneficiary’s details are as under: Beneficiary’s name:xxxx

Beneficiary’s A/c No:xxx

Beneficiary’s Bank name and address:xxxx

Routing Adress & No.:xxxx

Swift Code No:xxxx

Address of Beneficiary and phone no:xxxx

Purpose:FEES/LIVING EXPENSES etc

Kindly debit my/our above mentioned account no. xxxx for the same along with applicable charges in Indian rupees

I/We confirm that i/we have not exceeded the limit prescribed by RBI for the said purpose from your bank or any other bank during the current year.

Thanking you,

Yours faithfully

 xxxx

Ph no:xxxx

EDUCATION LOAN REMITTANCE DECLARATION FORM

From:  (name and address of applicant)

Chief Manager

Bank name:xxxx

Adress:xxxx

 DECLARATION CUM UNDERTAKING

I/We hereby declare that the transaction and details of which are specifically mentioned in the schedule here under does not involve,and is not designed for the purpose of any contravention or evasion of the provisions of the aforesaid Act or any rule,regulation,notification or order made here under.

I/We also hereby agree and undertake to give such information/documents as will reasonably satisfy you about this transaction in terms of the above declaration

I/We also understand that if I/we refuse to comply with any such requirement or make only unsatisfactory compliance therewith,the bank shall refuse in writing to undertake the transaction and shall if it has reason to believe that any contravention/evasion is contemplated by me/us report the matter to RBI

I/We further declare that the undersigned has/have the authority to give this declaration and undertaking on behalf of the firm/company.

  xxxx

                                                                                                                                Signature of the applicant

                                                                                                                                For foreign Exchange

Place:xxxx

Date:xxxx

                                                                                                                                Address: xxxx

                                                                                                                                Tel: xxxx

                                                                                                                                Fax: xxxx

SCHEDULE

Nature/Purpose of Foreign Exchange transaction: EDUCATION LOAN/EXPENSES/FEES

 Amount of foreign Exchange: xxxx (in desired currency)

Benificiary:xxxx(Routing number and name)

EDUCATION LOAN REMITTANCE A2 FORM

Application for remittance abroad. I/We wish to purchase/transfer xxxx (name of currency and amount in words)Through xxxx (Name and address of bank) for payment to xxxx (Name and address of beneficiary)

by remitting the amount by credit to the account of xxxx    (EDUCATION LOAN/LIVING EXPENSE)

Put a tick against apropriate pupose code,in case of difficulty consult your banker.

S610-Other remittances

Name of applicant

Address of Applicant

EDUCATION LOAN REMITTANCE COVERING LETTER

Simply addressed to the Bank Manager from the beneficiary’s name,asking him to release xxxx amount towards living expense/fees etc.Write the name of the account holder and the 11 digit beneficiary number.Also Name and address of beneficiary bank.