After buying foreign currency, students can issue a bank draft to themselves or their university for a relatively small service fee, normally less than 300 yuan. If the bank draft is addressed to the student, he or she can release the funds free of charge after opening a bank account in their destination country. If it is addressed to the university, they can give the draft directly to the university to pay for their tuition fee. Bank drafts demand the least in service fees but have a long waiting time as it can take one week for the funds to be released and transferred. Of course, opening a bank account also takes time.