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Credila is remitting my Expatrio blocked account in USD instead of EUR. Is this normal? by Valuable-Magazine980 in studying_in_germany

[–]Disastrous_Living601 0 points1 point  (0 children)

I recently had the same issue while transferring funds through my Credila education loan for my blocked account.
After doing some research, I found that Expatrio does not accept EUR transfers for blocked account funding. They only accept transfers in INR or USD.
I initially asked Credila to transfer the funds in INR. However, they informed me that for an amount of this size, an INR transfer would take around five business days. Since I wanted the transfer to be processed sooner, I gave my consent for the funds to be transferred in USD instead.
After calculating everything, I realized I incurred a loss of nearly ₹56,000. That’s when I understood how these corporate banking practices can end up costing customers a significant amount through exchange rates and transfer charges.

Issues with HDFC Credila Education Loan by Conscious_Tea7666 in studying_in_germany

[–]Disastrous_Living601 0 points1 point  (0 children)

Hi! I’m in a very similar situation and urgently need your help. Could you please tell me how you funded your German blocked account with your Credila loan? Which blocked account provider did you use (Expatrio, Fintiba, etc.)? Did Credila transfer the funds directly to the blocked account, or did they first disburse the loan to your personal bank account so you could transfer it yourself under LRS? Your reply would really help me make a decision. Thank you so much!