International Payments FAQ
Frequently Asked Questions
Flywire is a secure, streamlined payment solution that saves international students time and money when making tuition and fee payments. Flywire’s easy to navigate system enables students to pay in their home currency, saving them a significant amount of money when doing so. Flywire provides international 24×7 multilingual support across multiple channels – voice, Skype, chat or email to guide students through the process. Students are able to track their payments via an online dashboard.
Flywire offers students wholesale foreign exchange rates unmatched by traditional banks. This can add up to thousands of dollars in savings each year. For those currencies where wholesale exchange rates are unavailable, Flywire still offers students savings by absorbing the intermediary bank fees taken out of the payment during the bank transfer process; these fees are typically between $25-$50.
It is very easy to make your payment with Flywire. To get started, go to nmsu.flywire.com to create a Flywire login and fill out your payment details. Once your information is entered you will receive payment delivery instructions on how to send your payment to Flywire by visiting your bank (online, phone or in person).
After completing your payment information online, you will receive an email with instructions on how to send your funds.
Flywire adds a small margin to the currency foreign exchange. You will pay a margin on the exchange rate regardless of whether you use a bank or Flywire , but by securing wholesale rates Flywire is able to ensure you get the lowest margin available – typically 2% to 5% lower than traditional banks. Once you start the process of filling in your information you will immediately be shown the cost and it is your choice to continue.
Flywire has strict internal controls and insurance programs in place to ensure that funds are safe. They enforce strict information security and privacy policies.
No. Flywire is solely used for the purposes of sending money to the University to pay your tuition and fee bill.
Please be aware that you can send USD and take advantage of the benefits of using Flywire (i.e., avoiding intermediary fees). Your bank should be able to convert your local currency into USD then you can send the USD to Flywire .
No. Flywire will provide you with their bank account details so you can send the money from your local bank account to theirs. The funds will then be transferred to the University.
Please allow enough time to send the money prior to the deadline to avoid unnecessary fees. The funds transfer could take 2 to 4 business days to complete.
There is no limit on the amount you can send as long as the payment amount is in line with the tuition and fees charged for the semester.
No, you do not need a USD bank account in your home country. By using Flywire you can send money from your local bank account in your home currency.
More information about Flywire may be found by visiting their website at www.flywire.com/help