New Zealand study abroad remittance special account handling process

On the process of handling the special account for studying abroad remittance in New Zealand

With the increasing number of immigrants studying abroad, how to simplify the procedures of studying abroad or immigration has become a concern of many people. Recently, entrusted by the New Zealand Immigration Bureau, CITIC Bank Shanghai Branch teamed up with ANZ Bank to hold a promotion meeting for New Zealand immigrants studying abroad, and invited the New Zealand Immigration Bureau to explain the immigration policy for studying abroad. FTS (Special Account for Remittance for Studying in New Zealand) attracted everyone's attention.

For those who apply to study in New Zealand, FTS Business can simplify the proof of financial resources in the application process. At the same time, compared with the past, the advantage of the new FTS program is that it allows parents to supervise the use of their children's funds in New Zealand, which is more economical than the existing study abroad loans and can help visa officers better evaluate whether applicants have the' economic ability' to pay for studying abroad.

According to experts from CITIC Bank Shanghai Branch, the process of opening a special account for studying in New Zealand is divided into eight steps:

1. The applicant shall provide ID card, household registration book, and admission notice of foreign schools, fill in the Application Form for Special Account for Remittance for Studying Abroad, and sign the Agreement on Entrustment Management of Special Account for Remittance for Studying Abroad with China CITIC Bank;

2. Deposit the funds corresponding to the planned study period in New Zealand into CITIC Bank in one lump sum, including tuition and living expenses, at least RMB 6,543,800+0.5 million per academic year or equivalent in foreign currency; The bank opens a special savings account (passbook) for customers;

Third, the handling institution of CITIC Bank freezes the funds in customer accounts; The handling fee is 300 yuan RMB;

4. The Application Form for the Special Account for Remittance for Studying Abroad and the Entrusted Management Agreement for the Special Account for Remittance for Studying Abroad are stamped with the official seal of the business, with the first copy as the letter of credit guarantee issued to the New Zealand Immigration Bureau to the customer, the second copy retained by the customer and the third copy retained by the bank;

5. Provide an application form for opening an account in ANZ Bank and submit it to the Immigration Bureau together with the visa application materials;

6. The customer holds the Application Form for Special Account for Remittance for Studying Abroad, Entrusted Management Agreement for Special Account for Remittance for Studying Abroad, ANZ Bank Account Opening Application Form and other materials required for visa application; ANZ will open a senior account and a student account for customers after receiving the materials from the Immigration Bureau;

7. After the pre-visa is passed, the students will provide the confirmation letter of account opening issued by ANZ Bank, the notice of pre-examination in New Zealand and the account number of the institution studying abroad, and apply for remittance from the bank, and the tuition fees will be remitted to overseas schools, and the living expenses will be remitted to the senior account of ANZ Bank;

8. The agency deducts the client's funds to ensure that the balance of funds in the special account matches the remaining years of study abroad, and finally freezes the special account again.

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