Ways students can carry money abroad: #2 Foreign currency demand draft
Thursday, June 29, 2017, 7:16 PM
Foreign currency demand draft (FCDD), which costs Rs 300-500, is one of the most efficient ways to carry out forex transactions. It saves intermediary bank charges, and the amount gets deposited directly into the beneficiary bank’s account. FCCD is valid for six months and can be encashed at the beneficiary bank. It is best used for payment of university and hostel accommodation fee.