Studying MBBS in Bangladesh is a popular option for international students, especially those from neighboring countries. While the tuition fees and living costs often attract students, understanding how to pay these fees—especially from abroad—requires careful planning. This article explores in depth the different payment methods available to foreign students enrolling in MBBS programs in Bangladesh, the foreign‑exchange (forex) costs involved, and practical strategies to minimize charges and transfer money efficiently.
Before getting into payment methods and forex costs, it is useful to understand how MBBS fees are structured in Bangladesh for international students.
Many private medical colleges in Bangladesh charge international MBBS students in US Dollars, making payments from abroad more straightforward in terms of currency.
As per government policy, each foreign applicant must pay a non‑refundable equivalence or application fee in USD via a bank transfer (telegraphic transfer / SWIFT).
For example, Kumudini Women’s Medical College lists various costs (session fees, tuition, maintenance, development funds, hostel) in USD for foreign MBBS students.
Total fees for a 5‑year MBBS program in many private colleges can reach tens of thousands of US dollars depending on the college, hostel, admission and development fees.
These USD‑denominated costs mean that students making payments from outside Bangladesh will typically need to convert their local currency (or international currency) into USD and then transfer money to the university’s bank account in Bangladesh.
Foreign students have several payment channels available to pay MBBS fees in Bangladesh. Each comes with its pros, cons, and potential costs, including forex fees.
Bank Wire Transfer (Telegraphic Transfer / SWIFT)
This is the most common and secure method for paying large sums such as MBBS tuition fees. The student or their guardian initiates an outward remittance from a home‑country bank to the beneficiary bank account in Bangladesh.
The Bangladesh MBBS admission policy requires the application (equivalence) fee to be sent via TT/SWIFT to a designated account.
Often, universities provide detailed bank account information, including SWIFT codes, account numbers, and the beneficiary name.
This method ensures formal documentation and proof of payment, which is important for visa processes, admission records, and fee receipts.
Local Bank Deposit in USD or BDT
Some Bangladeshi colleges may allow fee payments in USD or local currency (BDT) at their branch counters.
For example, in university payment guidelines for non‑medical courses, certain institutions accept USD cash at their campus cash counters, converting at the bank’s daily rate.
While this is more typical for local or regional students, foreign students who come to Bangladesh early might pay a portion in person via such local banking channels.
Mobile Banking / Digital Payment Apps
Although this method is more common for domestic students, some international students might use mobile or app‑based solutions if they have a local Bangladeshi bank account.
For instance, academic payment systems in some Bangladeshi universities allow students to pay via mobile banking apps or digital wallets.
However, for international payments, these are less common unless the student has established a local bank account and funding in BDT or USD.
Education Loan Disbursement
Students taking education loans in their home country may have those funds disbursed directly to the university. The lending bank facilitates the forex conversion and outward remittance.
In this model, the education loan provider pays the university in USD (or agreed currency) via international transfer.
This is convenient because the bank handles the conversion and ensures the correct wiring details are used, reducing the risk for the student.
When international students pay MBBS fees in Bangladesh, foreign-exchange costs are a significant part of the equation. These costs can add up quickly, especially for large tuition payments. Key components of forex costs include:
Currency Conversion / Mark‑up
When students or their banks convert from local currency (like INR, PKR, EUR, etc.) to USD or BDT, banks often charge a markup on the exchange rate.
This markup depends on the bank, the country, and the amount being converted. Even a small percentage markup can mean a large absolute cost when transferring tens of thousands of dollars.
Intermediary Bank Charges
During a SWIFT transfer, money may pass through intermediary banks, especially if the sending bank does not have a direct correspondent relationship with the beneficiary bank in Bangladesh.
Each bank in the chain may deduct a fee, meaning less money arrives at the destination.
Outward Remittance Fees
The sending bank might charge a flat fee or commission for outward remittance. This fee varies from country to country and bank to bank.
Students need to check with their local bank about the fee structure for international transfers.
Receiving Bank Fee
Once the money arrives in Bangladesh, the beneficiary bank may also deduct a small fee for processing the incoming international transfer.
However, many universities factor these charges into their financial planning for foreign students (or require students to absorb them).
Regulatory / Compliance Charges
Some banks impose compliance-related fees, especially for high-value transfers, due to anti-money-laundering (AML) checks or documentation requirements.
These checks may include verifying student admission letters, invoice, passport, or other proofs, adding complexity to the transfer.
Forex Service Providers
Some students use third-party forex or payment providers (specialized vendors, fintech companies) to facilitate transfers. These may offer better exchange rates or lower intermediary fees.
But depending on the provider, there could be hidden costs, margin markups, or service charges. Students must compare carefully.
Timing and Exchange Rate Fluctuations
Exchange rates between local currency and USD (or BDT) fluctuate daily. A poorly timed transfer (during a weak local currency) could cost more.
Students who plan ahead can monitor the market and choose a favorable time to transfer funds or use hedging options where available.
Tax or Withholding (if applicable)
Depending on the student's home country, there may be withholding tax, reporting requirements, or foreign remittance caps. These can indirectly affect the effective cost of sending money abroad.
To illustrate how forex charges can impact payments for MBBS in Bangladesh, consider these hypothetical (but realistic) examples:
Suppose an Indian student needs to pay USD 20,000 to a Bangladeshi medical college for one year. Their home bank charges a 2.5% markup when converting INR to USD, plus a flat outward remittance fee of INR 2,000. The conversion margin alone costs them INR equivalent of USD 500, and the fee adds more. They may also lose money in intermediary banking fees.
A student in another country with a weaker currency may face even higher markups, making forex costs a larger portion of the payment. For instance, if the conversion rate is volatile, their home institute might charge more to hedge currency risk.
Alternatively, a student uses a specialized forex service with better margins; while their total transaction cost might be lower, they need to ensure that the intermediary or beneficiary bank in Bangladesh accepts transfers from that provider and credit them properly.
Bangladeshi medical colleges are aware of forex and international payment challenges. Many take concrete steps to make the fee transfer process smoother for foreign students:
Clear Bank Details
Universities publish their bank account information (SWIFT code, account number, bank branch, beneficiary name) in official admission circulars.
This helps students and sponsoring parents to correctly set up the outward remittance from their home country.
Fixed USD Fee
Since many colleges quote fees in USD, it removes the need for students to worry about frequent exchange rate variation on the university side. The student just needs to ensure the correct USD amount reaches the account.
Receipt and Proof of Payment
Upon receiving the wire transfer, colleges provide official receipts. These can be essential for visa processing, validation of admission, and future fee installments.
Students are advised to keep SWIFT receipts and confirmation of payment for their own record as well.
Deposit Memo Requirement
For admission, students often need to attach a copy of the deposit slip (or TT payment memo) along with their application.
This ensures that the university can confirm payment before finalizing admission.
Transparency of Fees
Reputed medical colleges clearly list not only tuition but also development fees, hostel charges, and other components in USD on their fee circulars.
Transparent breakdowns help students calculate total outgoings, including forex conversion costs.
Given that forex costs can add significantly to the MBBS fee burden, students should consider strategies to reduce these charges:
Use a Bank with Favorable Rates
Students should compare different banks in their home country regarding outward remittance fees, margins, and correspondent bank charges.
Choosing a bank with a good correspondent network to Bangladesh can reduce intermediary fees.
Negotiate or Confirm Fee Responsibility for Intermediary Charges
While sending, ask the bank if they can avoid intermediaries by using a direct bank relationship, which may lower fees.
Alternatively, negotiate that the student or the home bank bears the intermediary cost rather than the beneficiary.
Use Forex Service Providers Wisely
Some third‑party forex platforms offer competitive rates. However, students must verify their legitimacy and whether the receiving university’s bank accepts such transfers.
Always insist on transparent fee breakdowns from the forex provider (conversion margin plus service charge).
Timing the Transfer
Monitor currency exchange rates and plan the transfer when rates are more favorable.
Avoid last-minute transfers, which may force an unfavorable rate or urgent fees.
Use Education Loan Disbursement
If studying with an education loan, use loan disbursement to avoid paying forex out of pocket: the bank disburses directly to the university in USD.
This method avoids repeated conversions and may reduce the number of forex transactions.
Set up a Local or Multi-Currency Account
In some cases, students or their families can open accounts in a currency (like USD) in their home country to accumulate funds and then transfer in fewer, larger transactions.
This helps minimize repeated conversions and spread out market risk.
Paying MBBS fees from abroad involves not just forex costs but also regulatory and compliance risks. Students must be aware of:
Documentation Requirements
Outward remittance often requires proof of purpose (studying abroad), admission letter, fee invoice, passport, and sometimes visa.
Banks may reject or delay transfers without proper documentation.
Exchange Control Regulations
Some countries regulate how much money can be sent abroad per year. Students must check remittance limits applicable to them.
Violating foreign-remittance regulatory limits or misdeclaring the purpose could lead to legal or tax trouble.
Anti-Money Laundering (AML) and Know Your Customer (KYC)
Large transfers trigger AML checks, which require banks to verify the source and purpose of funds.
Students should ensure their accounts are KYC‑compliant long before making large remittances.
Delays in Clearing Funds
International wire transfers may take several days to clear. If scheduled close to a fee deadline, delays can cause admission or registration problems.
Planning ahead is crucial—initiate transfers well before deadlines.
Receiving Bank Rejection
If payment details are incorrect (wrong account number, name mismatch, SWIFT code errors), the transfer could be rejected or returned, leading to wasted fees and time.
Always double check bank details provided by the university and request a confirmation before sending money.
To illustrate how this works in practice, consider the following hypothetical case:
Student Profile
An Indian student, accepted into a private medical college in Bangladesh.
Total MBBS package quoted as USD 42,000 (including tuition, development, hostel, etc.).
Their bank offers outward remittance with a 3% markup on currency conversion plus a flat fee of INR 3,000.
Payment Process
The student obtains the university’s SWIFT account details and invoice.
They submit outward remittance request to their bank, provide all required documents, and initiate the transfer.
The bank converts their INR into USD at the marked-up rate, subtracts fees, and transfers USD to the Bangladesh bank.
The student obtains a SWIFT receipt and sends a copy of the deposit memo to their university to secure admission and registration.
At the destination, the university acknowledges the receipt, issues a fee payment receipt, and credits the student’s account.
Cost Breakdown
USD 42,000 needs to arrive at the university.
Suppose the student converts INR equivalent to USD 42,000 plus a little extra to cover intermediary return risk.
The bank margin adds up; say the student ends up paying USD‑equivalent more due to mark-up.
Intermediary charges might reduce the net amount received, so they may need to overpay a bit to ensure the full quoted fee is credited.
Everything is documented, benefiting visa and admission confirmation.
For any international student planning to study MBBS in Bangladesh, being well informed about forex and payment methods is as important as securing admission. Here is why:
Budget Accuracy: Without accounting for forex fees and transfer costs, a student may underbudget the fund required for the first payment.
Financial Planning: Knowing the right payment route helps students minimize cost and ensure that the correct amount reaches the university.
Visa Compliance: Many student visas require proof of payment or financial stability; clean outward remittance receipts and university receipts help with visa interviews.
Risk Mitigation: Avoiding unknown or shady forex channels reduces the risk of fraud, delay, or money loss.
Long-term Saving: By reducing unnecessary forex fees, students save money that could be used for living expenses, books, or other academic costs.
To sum up, paying MBBS fees in Bangladesh from abroad involves a nuanced understanding of forex costs and payment methods. The main points include:
Most foreign students pay in USD, making conversion and transfer a key concern.
Telegraphic transfers (SWIFT) are the most secure and commonly used method.
Forex costs include conversion markups, intermediary bank charges, remittance fees, and compliance costs.
Universities in Bangladesh provide clear banking details and require proof of payment (deposit memos) to confirm application and admission.
Students can minimize forex cost by choosing favorable banks, using education loan disbursement, timing their transfers, or using trusted forex services.
Proper documentation and advance planning are critical to avoid delays, rejections, or hidden costs.
While forex charges and the process of paying MBBS fees may seem complicated at first, careful research and planning make it manageable. By understanding how international payments work, the costs involved, and strategies to reduce those costs, students can make informed decisions. A secure, transparent payment method not only saves money but also provides peace of mind during the crucial admission phase. For students studying MBBS in Bangladesh, mastering the payment process is a vital step on the journey toward their medical education.
WHO
Course Duration:
Average Fees:
Universities:
Medium:
6 years
$3,000 - $7,000 per year
2+
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