| This account helps students manage overseas educational expenses by offering savings in the foreign currency account in Malaysia as well as optimising interest earnings in foreign currency deposits.
Who is entitled for the EDEA Account?
- Students/ Guardians supporting students currently studying overseas " Parents / Guardians of students currently scheduled for overseas education
- Students in local colleges with Foreign University affiliation
- Students in Twinning Programmes (e.g. 2+1 or 2+2 programmes)
- Post Graduate Programmes (e.g. MBA through Malaysian Institute of Management)
- Professionals (CPA Annual Membership / Examination Fees)
- Parents / Family Members / Guardian who are supporting the student's education costs
- Colleges / Educational Institutions (which offer courses to students under Foreign University affiliation and Twinning Programmes)
- Foreign Students / Lecturers in Malaysia
- Expatriates in Malaysia
Types of payments eligible for the EDEA Account
- School / Tuition Fees
- Examination Fees
- Professional Membership Fees
- Students' Accommodation / Living Expenses
What are the key currencies available for the EDEA Account?
- US Dollar
- Australian Dollar
- Canadian Dollar
- British Pound
- Euro Dollar
- Singapore Dollar
- Japanese Yen
- Hong Kong Dollar
- Swiss Franc
- New Zealand Dollar
- Thai Baht
- South African Rand
- Indonesian Rupiah
What are the documents required to apply for the EDEA Account?
- Standard Remittances Form and
- Valid Student ID; or
- Letter of Acceptance from College; or
- Student Visa; or
- Other relevant supporting documents
Terms & Conditions for the EDEA Account
- Standard Terms & Conditions of Remittances
- Name of the student(s) or educational institute (as provided in the supporting documents) to be the sole beneficiary
- Form P / Form R for remittances valued more than RM50,000 equivalent in the chosen foreign currency (as per Bank Negara Malaysia Guidelines)
- Deposit amount must not exceed US$100,000 or 1 year's expenses whichever is lower
Where can I apply for the EDEA Account?
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