Q&A about Flywire

1. What is Flywire and why should I use this service?	Flywire is an easy-to-use payment solution that provides international payers with a streamlined payment experience and saves institutions and their payers time and money. We’re transforming the payments process so that making an international payment is easier, faster, more transparent, and cost effective for payers. With Flywire, you can pay in your local currency, select your preferred payment method, and benefit from our competitive, discounted exchange rates, which are unmatched by traditional banks. This can add up to thousands of dollars in savings per payment.From making a payment through our platform to track the path of your payment on our online dashboard, we help guide you through the entire payment process. And, unlike large financial institutions, we provide round-the-clock multilingual support across multiple channels, including phone, chat, and email.
2. How do I make a payment to my institution?	Making a payment is easy! Please fill out the application form on website, we will send you a payment request to your website. If you have any question, do not hesitate contact us via email, Facebook messenger . Support Team will be happy to help you.
3. What are Payment Requests and Payment IDs?	Payment Request Each time you send a payment through Flywire, a payment request is required. The first step before sending your funds is to create a payment request on our website or on our Flywire Mobile App. Please note, that each payment needs a payment request associated with it. If you wish to send multiple payments, it is required to create multiple payment requests as well. Click here to find the instructions about how to create a payment request. Payment ID After a payment request is created with Flywire, a payment ID is created. This is a unique code of three letters and nine digits that helps us identify your payment internally. Each payment ID is specific to only one payment. When communicating with Flywire, it is recommended to have your payment ID ready.
4. What kinds of payment methods does Flywire offer?	Flywire currently accepts bank transfers, credit and debit card payments, and PayPal. Please note: the payment methods made available depending on the country you are paying and the institution you are making a payment to.If the credit/debit card option is available for your payment, the card brands we process from your country will be displayed when you create your payment request. Once you finish creating your payment request, you will be able to pay by card directly on our website. This is also true for online bank transfer and PayPal payment methods.If you select the bank transfer method, payment instructions including our beneficiary details will be provided to you at the end of the payment request process. You can then initiate the transfer at your personal bank in person or through your online banking (from any bank you choose).Please note: you will not be able to pay the domestic bank transfer payment method directly from Flywire’s website..
5. How should I fill out my sender/payer information?	When making a payment request in our system, you need to enter the sender/payer name and address so Flywire knows where the funds are being sent from. These fields are mandatory for compliance purposes. You will need to provide Flywire with the street address that matches the payer’s bank records. The address must be located in the country in which the sender is paying. If the sender/payer name is a third party (such as a business or agent), their address must also be included. Please note that we do not accept post office boxes as a valid address.
6. I have to make my payment with Flywire, but my institution is not listed on the website. What should I do?	If your institution has asked you to make a payment through Flywire, but they are not listed on Flywire website, don’t worry! Some institutions prefer to send payers a direct link to their payment portal. If you see Flywire listed as a payment method on your institution’s website but your institution’s name is not listed on ours, please contact your institution. They will provide you with the link to start your payment.
7. Can a family member, friend, or third party pay on my behalf?	Definitely! Simply include the personal information of the family member, friend, or third party who will be making your payment in the “Payer Information” section during the booking process. The sender or payer is the person who holds the account where the money will be sent from. If a family member, friend, or third party is paying for you, the name you include in the request must be the one stated in their bank records or card. A mismatch between the sender name provided to us and the account holder name stated in the bank records may cause delays in the processing of your payment.In the case you are paying by loan from your bank in India, you can either provide the loan signer/borrower details or include your loan provider details on the sender information; both are equally accepted.
8. How do I know my student ID?	When making a payment request through Flywire, you may be prompted to enter your student ID (Eagle ID, Banner ID, Invoice ID, etc). Your student ID may be required in order to make a payment through Flywire because it allows the institution to allocate the funds to the proper student account. Student ID information can usually be found on school, college, or university documents, such as an invoice or course registration. If you are unable to find your student ID, please contact your institution directly for more assistance.
09. What is included in the amount I have to pay?	Regardless of your currency selection, we will always share with you the total amount due before you finalise your payment request, and Flywire will not impose any additional fees on top of this amount due. This total amount due includes all fx and service fees (including fees charged by our payment partners).
10. What is a foreign exchange rate? What exchange rate will be applied to my payment?	Flywire and its locally licensed partners offer competitive exchange rates that are often lower than bank’s rates. It’s important to compare your personal bank’s rate to Flywire’s rate, rather than to those found online. The exchange rates posted on many websites are “mid-market rates,” which are not always available to the average consumer.Because exchange rates are in constant flux, please make sure to review and compare rates to each other within a time-frame of one to two hours, ideally.A foreign exchange rate is the relationship (price) at which a pair of currencies can be bought or sold. For example, if the rate EUR to USD is 1.2285, then 1 Euro equals 1.2285 US Dollars. In comparison, the USD to EUR rate would be 0.814, and 1 US Dollar would equal 0.814 Euros. Rates are subject to fluctuations throughout the day.
11. How do I save money using Flywire?	By using Flywire, you save money through our competitive currency exchange rates, which are often better than typical bank rates. We are able to get these improved rates by combining the payments that are made through the payers’ local currencies and exchanging them into your institution’s currency. The large volume of payments we process allows us to get a better rate. Flywire also eliminates hidden fees and ensures your institution receives exactly what you expect them to receive.
12. Why is there a difference in the payment amount between the credit card option and the bank transfer option?	Credit card payments are more expensive because a payment with a credit card is instantaneous. Therefore, a convenience fee is added to the amount you see in the payment cost list. If you need to make a time-sensitive payment, then the card option is a great choice. We advise payers to use credit cards denominated in their local currency to avoid charges resulting from the currency conversions. If a dual or different currency credit card is used, the payer’s bank may charge a currency conversion fee to send the payment to Flywire. If you check our rates for the bank transfer, you will notice that the price is lower. Because bank transfers do not involve card payment processors, our rates are often better—at least 3% lower—than bank rates! Select this option if you are looking to make a payment at the lowest cost available.
13. How can I track my payment?	Flywire gives you the option of tracking your payment via an emailed tracking link, your Flywire account, Flywire Mobile App, or email and SMS notifications. You can view your payment instructions or any additional documentation, and check the status of your funds. You will also receive payment status updates by email and, if you have opted for it, SMS. Tracking link We will send you an email with the tracking link when you create your payment request. From that email, you can access your payment or track your payment for up to 90 days. You can also use the link to view your payment instructions or any additional documentation, and to see the status of your funds. Flywire Account If you have a Flywire account, you can log in and select “My Payments,” to access and track your payment. You can also view your payment instructions or any additional documentation, and to see the status of your funds. Flywire Mobile App If you have the Flywire Mobile App, you can use it to log in, access and track your payment. You can also view your payment instructions or any additional documentation, and to see the status of your funds.
14. What do the different statuses on my account mean?	The payment statuses in your account are as follows: Pending – You have initiated your payment request, but Flywire has not yet received your funds. Please allow two to three business days for us to receive your funds if they were sent by bank transfer. Received – Your funds have been received by Flywire and are now being processed to your institution. Delivered – Flywire has delivered the funds to your institution. On hold – Your payment has been placed on hold while we request additional information. Cancelled – Your request has been cancelled due to a failed or expired payment.
15. Where can I find my payment receipt?	Once Flywire has delivered your payment to your institution, you will receive a confirmation email with a tracking link. Your payment receipt will be available for download via the tracking link for up to 90 days either through your Flywire account or through your Flywire Mobile App. Web Version If you are viewing your payment receipt through your Flywire account, select “My Payments” after logging in, and then click on the corresponding Payment ID. Please note: The payment receipt is only available for download after Flywire has delivered your payment to your institution. The link to download it will not be available before this. Mobile App Version If you are viewing your payment receipt through the Flywire Mobile App, click on the corresponding Payment ID after logging in, and then click on “DOWNLOAD PAYMENT RECEIPT”. Please note: The payment receipt is only available for download after Flywire has delivered your payment to your institution. The link to download it will not be available before this.
16. When will my institution receive my payment?	The time it takes for your payment to reach your institution can vary depending on the payment method. Bank Transfer From the moment Flywire receives the funds from your bank, it takes two to three business days for us to process and deliver the payment to your institution. However, this timeframe is also dependent on the remitting bank (your bank) as they determine how fast they can release your funds. Card or other online payment methods If you have chosen to pay by card or other online payment methods, your payment is automatically guaranteed to your institution. Typically, funds are delivered within two to three business days for processing. If you provide your institution with your payment ID, they can look up your account and see that your funds will be delivered shortly. Please note: – Regardless of payment method, you will receive two confirmation emails: one when Flywire receives your funds and another once your funds are delivered to your institution. You can track your payment status at any time through your Flywire account or tracking link. – We encourage you to send your payment to Flywire at least three to five business days before your institution’s payment deadline. Flywire will not charge you any penalty, but your institution may have a late fee which, unfortunately, is out of our control. – Most funds are delivered within 8-24hrs to institutions. In some cases, institutions request that Flywire only deliver funds on particular day of the week or month. In this case, your payment may take 2-4 business days to move from “Received” to “Delivered”.
17. What are business days?	Business days, which comprise the workweek, are Monday, Tuesday, Wednesday, Thursday, and Friday. They do not include weekends (Saturday or Sundays) or bank holidays. Please note that Flywire can only process payments during business days. If you feel that a bank holiday or weekend may delay your payment, please be sure to initiate and complete your payment further in advance.
18. I just went to my bank and sent you my funds. What’s next?	Starting from the day your bank releases your funds to us, it takes two to three business days for us to receive your bank transfer. After sending us your payment, you should return to the tracking link (found in your email or Flywire account) and select “Confirm Funds Were Sent” under “Manage Your Payment.” This alerts Flywire that your funds are on their way, and we can anticipate their arrival in two to three business days. Once Flywire receives the funds, it takes an additional two to three business days for the funds to be converted and processed to your institution. You will receive two confirmation emails: one when Flywire receives your funds and another once your funds are delivered to your institution. You can check your payment status at any time through your Flywire account or tracking link.
19. My funds were received by Flywire. When will they be delivered to the institution?	Once Flywire receives your funds, it takes two to three business days for the funds to be converted and processed to your institution. You will receive two confirmation emails: one when Flywire receives your funds and another once your funds are delivered to your institution. You can check your payment status at any time through your Flywire account or tracking link, where you will also find more detailed information on estimated dates for the payment delivery.
20. I received a payment delivery confirmation email. What is next?	The email you received from Flywire is confirmation that your institution has received your payment. At the same time, please be aware that your institution may take several business days to update your account statement. You can download your Flywire payment receipt through your account or tracking link by selecting “Download Payment Receipt” under “Manage Your Payment.”
21. Can Flywire provide me with an invoice?	Flywire is a payment processor, not the final recipient of funds. Therefore, Flywire is unable to provide you with an invoice. Only the final recipient of your funds (in this case your institution) is able to issue a formal invoice. Flywire will always provide you with a delivery confirmation email that serves as proof of your payment’s delivery to your institution. The confirmation receipt will be displayed on your Flywire account or in your tracking link once your payment has been delivered.

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