What is Flywire?

Flywire is a payment platform used by many universities around the world to help international students pay tuition and other fees. The idea is it makes payment “easy” and “safe.” Universities partner with Flywire to accept payments in various currencies; Flywire handles the foreign exchange, intermediaries, and transfers. But “easy” often comes at a cost—sometimes hidden.

Why Does the Currency Choice Matter?

When you pay fees via Flywire, you often get options like:

• Pay in USD 
• Pay in INR 

Sounds convenient, right? But each option has its downsides—especially for Indian students sending large sums for university fees. The currency you pick can significantly affect how much you actually end up paying, due to exchange rate markups, multiple conversions, and hidden charges.

Flywire in USD: The Double Conversion Trap

Here’s how paying in USD usually works:

1. Your bank converts INR → USD 
2. Flywire (or the university) then converts USD → university’s currency (GBP, CAD, AUD, etc.) 

Why this hurts:

• Two conversions means two sets of margins/fees: one from your bank, one from Flywire. 
• Each conversion often has extra “padding” above the real market exchange rate. 
• Even small margins (1-3%) become large sums when you’re dealing with lakhs of rupees. 

Flywire in INR: Hidden Margin Costs

If instead you choose to pay in INR:

• Flywire provides an INR price up front. 
• But inside that number is a hidden margin: their built-in exchange rate often is worse than what you’d get via market rate / RBI-approved forex providers. 

So while it seems you’re paying “straight from your rupee account,” you’re still losing money—just more sneakily.

Comparing: USD vs INR vs Direct University Currency Payments

Real Numbers to Bring It Home

To illustrate with approximate figures (these can vary over time and by bank/provider):

• Market benchmark rate: ₹83 per USD 
• Flywire’s USD rate via bank: maybe ₹83.50 or more 
• Flywire’s USD → GBP rate margin: maybe 2-3% worse than market 
• Result: For a tuition fee of £10,000, paying via Flywire USD might cost you ₹8,50,000-₹8,60,000 vs direct payment ~ ₹8,30,000 → ₹15,000-₹30,000 extra depending on all fees and margins. 
• If you pick INR option: the margin could be similar or worse, leading to similar excess costs. 

Trusted Sources / Rules You Should Know

1. RBI’s Liberalised Remittance Scheme (LRS): Governs how much and how Indian residents can send abroad; ensures authorised forex channels. 
2. University payment policies: Always check what currencies they accept and whether direct bank/forex payments are possible. 
3. Flywire’s pricing / FAQs: Flywire publishes some of its fees and exchange margin policies—reading their fine print helps. 
4. Forex/Bank exchange rates vs market/benchmark rates: Many financial data sites or forex platforms show market rates (live interbank rates) so you can compare what you’re being quoted. 

FAQ: Your Top Questions, Answered

• Is it ever okay to pay in USD via Flywire?
  Only if there’s no other option and you accept the loss—but always compare what the final amount will be after both conversions. 
• Can Flywire’s INR option sometimes be better?
  Rarely. Only if your bank/forex provider has terrible rates or the USD path is unusually costly. But usually direct payment in university currency wins. 
• What if the university insists Flywire must be used?
  Push them: ask if they accept direct bank transfers in their local currency (GBP/CAD/AUD). Sometimes there are preferred foreign student payment channels you might not know. 
• How to find the “true” cost before you pay?
  Do a mock calculation: check live market rate, see what your bank charges, see what Flywire’s rate is (they show it before payment), compute both paths, compare to direct transfer costs via RBI-authorised providers.

Both the USD and INR alternatives on Flywire have hidden expenses that, when added up over a degree, amount to lakhs. This isn’t an upfront fee; rather, it’s an ongoing charge that appears each semester.

These problems are solved by platforms like IBRLIVE, which provide:

• Market-linked exchange rates.

• Free and clear money transfers through the Liberalized Remittance Scheme (LRS), authorized by the Reserve Bank of India (RBI).

• Families can save thousands of dollars with direct payments in university currency.

The Hidden Shortcut Students Wish They Knew Earlier

Imagine paying your tuition and realising you’ve been losing an entire month’s rent in hidden fees—every single semester. That’s the reality with Flywire or Convera. Now picture a platform that cuts through the fog, letting you pay straight in your university’s currency at fair, transparent rates. That’s exactly what IBRLIVE does. It’s RBI-authorized, student-friendly, and built to protect your money from double conversions and padded exchange rates. The result? Students quietly save ₹15,000–₹20,000 on every transfer—enough to fund books, flights, or even a weekend trip abroad. It feels less like a payment service and more like having a secret ally on your side.