INTRO<\/b><\/p>\n
You might have heard of <\/span>Flywire<\/a> if you want to study abroad. Most colleges and universities in the US, Canada, the UK, and Australia require students to pay their tuition through it. <\/span>Flywire seems easy at first: one portal, numerous currencies, and immediate receipts. But if you’ve looked at the <\/span>Flywire exchange rate and Google’s live rate side by side, you already know the truth: it’s pricey.<\/span><\/p>\n This blog will help you learn:<\/span><\/p>\n Flywire is not a bank; it is a way to collect payments. It makes money and covers its costs by adding margins to the <\/span>Flywire exchange rate. Let’s take it apart:<\/span><\/p>\n At first, it seems weird that colleges would make students use a more expensive approach. Here is why:<\/span><\/p>\n In short, it’s easy for the schools but expensive for the kids.<\/span><\/p>\n\n
\nThe Truth About the Cost of Flywire Money Transfer<\/b><\/h3>\n<\/li>\n<\/ul>\n
Why Is Flywire So Expensive ?<\/b><\/h3>\n
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\n<\/b> The <\/span>Flywire fees are included in the currency conversion. If the Google live rate for 1 CAD is \u20b961.5, <\/span>Flywire might show you \u20b962.5. That’s about \u20b920,000 more on a transfer of 20,000 CAD.<\/span><\/li>\n
\n<\/b> For two to three days, <\/span>Flywire locks in your exchange rate. It adds a greater margin to protect itself from changes. <\/span>Flywire makes money no matter what the market does\u2014students pay the price.<\/span><\/li>\n
\n<\/b> Many institutions only work with <\/span>Flywire, so students often feel that they have “no choice.” <\/span>Flywire can charge more than the market rate since it has a monopoly.<\/span><\/li>\n
\n<\/b> A secret: <\/span>Flywire pays some colleges and IELTS\/education agents a commission. This is why colleges push it, even if it costs students more.<\/span><\/li>\n<\/ul>\nWhy Do Colleges and Universities Want Flywire?<\/b><\/h3>\n
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\n<\/b> Universities don’t have to deal with hundreds of little wire transfers from all over the world. Every day, <\/span>Flywire gathers, combines, and settles the money.<\/span><\/li>\n
\n<\/b> Flywire makes it easy for colleges to see who has paid via a dashboard. No pursuing students or matching up payment data.<\/span><\/li>\n
\n<\/b> Universities don’t have to learn about RBI rules or outward remittance compliance; <\/span>Flywire takes care of everything.<\/span><\/li>\n<\/ul>\nFlywire Charges in Re<\/b>al Life<\/b><\/h3>\n
Think about how much money you need to send to a Canadian university.<\/span><\/h2>\n
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