Student expenses FAQs


What is the student expenses solution used for?
Flywire's Student Expenses Solution is for living expenses like rent, groceries, utility bills, supplies, and transportation.

What currencies can be sent/received?
We accept payments being sent from India (INR) to the United States (USD), Canada (CAD), Australia (AUD), United Kingdom (GBP) and Europe (in EUR). Watch this space for more inclusions.

Who can receive funds?
The receiver of the funds must be an Indian citizen who is a student actively studying overseas in the United States, Canada, Australia, United Kingdom and Europe.

Who can be a sender of the funds?
Anyone can be the sender of funds from India as long as they are (1) an Indian citizen, (2) directly related to the student, and (3) the payment is initiated from a bank account India (denominated in INR).
This means parents, grandparents, spouses, siblings, and the student themselves are eligible to send funds.

How much can be transferred annually?
The total limit to be transferred by an individual annually is $250,000 USD. Ideally, one should write down all FX payments sent to a particular PAN number in a journal or document.
For more information on the Liberalized Remittance Scheme, visit this page.

What are the benefits of using Flywire & EbixCash?
Flywire and EbixCash make it easy to send payments through digital document processing, a simple display, and no hidden fees. For repeat payments, there is no document upload required.

Payment Process

How does Flywire partner with EbixCash in the digital payment process?
EbixCash, one of the largest forex companies in India and a leader in international payments, is Flywire's official network partner and remitter. They assist in the requisite KYC for transaction required by Indian law.

How long does a payment take from beginning to end?
24 to 36 hours. Transactions typically take 24 to 36 hours to go from payment initiation to delivery in the student's account.

How are the payments tracked and how do we see them?
Upon submitting the payment you get a unique tracking link through which you can track the status until the payment is completed.

What are the SWIFT code & ABA/Routing number?
For payments to the US, the SWIFT code and ABA (routing number) are both mandatory. Every bank has a SWIFT code, which is a 8 to 11-character code that is used to identify a specific bank. The ABA (US)/Routing (CANADA) is a 9 digit number that also identifies the receiving bank.

Where can I find the SWIFT code & ABA/Routing number?
When a student opens a bank account in the United States, they will receive the full bank account instructions including the SWIFT and ABA codes. Please check your student's bank to confirm this information.

Is the document process entirely virtual?
Yes, payments are processed using digital copies of documents.
EbixCash, however, may require hard copies on a case by case basis.

What documents are required?
Copies of the following documents would be required to be uploaded while making the payment:

  1. Student Passport (front and address page)
  2. Payer PAN card
  3. Payer Passport or Aadhaar card
  4. University Offer Letter / I 20 Form (I20 only in case of USA)
  5. Filled LRS/A2 form [Download Here]
  6. Loan Sanction and disbursement letter (if source of funds is Education Loan)

In addition to the above documents, you would also need the following for Forex Card orders:

  1. Student PAN (if different from Payer PAN)
  2. Approved student visa is now a mandatory document for all new forex card issuances

What is the LRS form?
Liberalized Remittance Scheme (LRS) form also called A2 form which is mandatory declaration for all forex transactions in India. For additional inquiries related to LRS, please visit the Reserve Bank of India's website.

Do I need to submit the documents again for repeat payments?
For repeat payments from the same sender (PAN) only the LRS form is required.

Forex Card

Do you offer a forex/prepaid card?
Flywire offers a prepaid card in partnership with EbixCash and HDFC Bank. The card can be loaded online at

Are there any special features of Flywire - EbixCash - HDFC Bank Forex Card?
Flywire - EbixCash - HDFC Bank as a special offer is waiving off the card issuance and card reload fee. There is more, Flywire - EbixCash - HDFC Bank will also be waiving off charges on first 3 ATM withdrawals for a month for a period of 3 months. However, in case local ATM charges are applicable then the same will get charged to the card.

What are the security aspects of the card?
Protection against fraudulent transactions with an insurance cover of INR 500,000
Personal death accident cover of INR 2,500,000
Loss of checked in baggage cover of INR 50,000
Loss of personal documents cover of INR 20,000

Can I receive transaction alerts for my Forex Card?
Students will get transaction alerts via email & SMS. Once you update details in your profile with your international student number, students will get the transaction alert there as well.

What do I need to do if I misplaced my Forex card?
Contact Flywire’s partner EbixCash in the following: +918291909839 /+918879761923 (Mon-Saturday 9am-7 pm) or drop in a mail to at [email protected] with card replacement request & shipping address

EbixCash will courier the replacement card to the student, this may take around 10 days. Charge of INR 2500 will be applied for the replacement card.


What does Flywire charge?
Unlike banks and other cross-border transfer companies which charge servicing charges, nostros fees, and additional charges, Flywire does not. Flywire's rates are some of the most competitive in the market.

Is the rate fixed or does it change over time?
Foreign Exchange (FX) rates are dynamic in nature. FX rates are dependent on multiple macro and microeconomic factors like the mid market rates or inter bank rates and are subject to change over time.

Will there be additional charges later?
There will be no additional charges using Flywire. Typically banks and forex companies charge nostro fees, etc at a later date, with Flywire, we will display the final amount that you need to pay (including taxes) during the payment process.

Will the beneficiary or receiving bank charge an incoming wire fee?
For international wire transfers, banks could charge additional fees, thereby reducing the amount that gets credited into the recipient account.

If the amount received is less than expected, it could be that:

  1. The sending bank has charged an "Outgoing wire transfer fee" (this could range between $15 and $30)
  2. The correspondent banks, the ones who connect your foreign bank with your recipient bank, have taken a fee at each stop ($5 to $10)
  3. Your recipient bank has charged an "Inbound wire transfer fee" (ranged between $15 and $30)

We recommend you check with your sender bank and the recipient bank to confirm the charges, if any.


What is GST and TCS?
Goods and Service tax (GST) is applicable on all payments and is based on the amount of funds being sent.
Tax Collected at Source (TCS) is applicable for all FX payments after you have crossed a threshold of INR 7 lakhs for the financial year.

When will I receive the TCS certificate?
TCS certificate is typically not required to be sent from EbixCash as this is available online in your 26AS Tax Credit Statement. Follow the steps on Income Tax India's website to locate your AS26.

How much time does it take for TCS to reflect in 26AS?
It takes 3-4 months for the TCS to reflect on your 26AS tax form.

How is the 7 Lakh limit of TCS tracked?
7 lakh limit of tcs is tracked based on your declaration. e.g; in case you have declared that previous to the current payment you have done INR 10 lac of FX payment ( remittance , foreign currency for holiday , forex card etc against a particular PAN no:) in the current financial year then the TCS applicable will be calculated on 10 lacs + current transaction value - INR 7 lakhs

Where can I learn more about Indian taxes on cross-border transfers to students?
For additional tax questions, please check our webinar with tax experts.


Can I use this solution to pay GIC?
Yes, the Student Expenses solution can be used to make payments to a GIC account in Canadian Banks.

What is GIC?
The Guaranteed Investment Certificate (GIC) is a mandatory requirement for all international students applying to schools in Canada under the Student Direct Stream (SDS) category.
The authorities recommend a minimum investment of CAD 10,000 as the GIC amount for a Canada student visa. Students can deposit anywhere between CAD 10,000 to CAD 50,000 in their respective savings accounts at a time.
This money is treated as proof of funds and would be released to the student every month for 12 months for their study abroad and maintenance expenses along with interest. This account is offered by Canadian Banks.

What are the extra charges for GIC, if any?

Canadian Banks could charge up to $300 for processing GIC payments.
We strongly recommend you send at least $10,300 to ensure your payment goes through smoothly. Any excess funds paid towards the processing fee will be available in your GIC account.
Also, please note that EbixCash, our regulated partner, charges $30 to process these transfers.

Ready to send student expenses?