Complete Cost Transparency
Paying institution fees with Travelex gives the student, parent or sponsor complete transparency of costs.
If a student chooses to settle a £15,000 bill by credit card, they could incur up to 5% in fees increasing the total cost of the transaction by a further £750. Sterling wires can also attract further charges whilst in transit, leaving unaware students still owing money on arrival which ccould cause enrolment delays.
Our online service instantly converts the fee amount into the student’s home currency. If paying by wire, the student sees precisely what’s owed as a fixed settlement figure; we never deduct extra charges or merchant service fees (normally 1.8% to 3%) – nor do our banking partners. The rate is fixed for 72 hours, giving the student ample time to pay into the Travelex account.
