The Funds Transfer Scheme that currently has only been available for clients applying in the Beijing Branch catchment area has now been extended to clients applying through the Shanghai Branch.
About the scheme
Under the Funds Transfer Scheme, prospective students can deposit money into a remittance account, and this deposit will be accepted by Immigration New Zealand as evidence of the applicant’s ability to support their intended study plan in New Zealand.
When the student arrives in New Zealand to study, he or she can access a portion of the money each month to help cover their living costs, while another portion will go to the New Zealand education institution to cover tuition fees. The scheme will allow parents to control how much money their children can access every month and for students to concentrate on their education rather than worrying about finances.
Currently students wishing to apply can approach the China CITIC Bank Shanghai, CITIC Square, Sub-Branch only.
See questions and answers in English and Chinese for more detailed information about the Funds Transfer Scheme.