The refund process includes your institution, who approves and initiates the refund, and Flywire, who verifies the originating account information and sends the funds back to the payer. Below you can find a detailed account of the refund process and some helpful tips!
The refund process begins with your institution:
- At this point, the funds are still with your institution. After you have asked your institution for a refund and they have approved your request, they will need to initiate the refund and send the funds to Flywire. How quickly the refund is initiated depends on the institution. This process typically takes anywhere from a few business days to a couple of weeks
- Your refund will have the same reference as your original payment - the payment ID. This is true even if you are expecting a partial refund
Tip: If you are not sure when your refund was initiated and sent to Flywire, you can check directly with your institution.
After your institution sends the funds, Flywire will start the process of returning the funds back to you:
- Flywire notifies you by email immediately after the funds have been received to our bank account, which is when we can start processing your refund back to you.
- In order to return your payment, we may need to verify the originating account information to prevent fraud and money laundering. Don’t worry! If you are asked to submit any information or documentation for your refund, Flywire will reach out to you directly by email.
- Once we have everything we need, most refunds are processed within 3-5 business days. We will notify you as soon as your refund is finished to let you know the payment is on its way to the originating account
Tip: If your original payment was linked to your Flywire account, you can track the refund and submit any account information in the "Your Payments" section of your account under the corresponding payment ID.
Shortly afterwards, Flywire will send the funds back to the originating account:
- When Flywire has finished the refund process, it means that the payment is on its way back to the originating bank account. Time to sit tight and wait for the funds to arrive! Most refunds are reflected in the originating account within 5-10 business days, but for some currencies and payment methods this may take longer
Tip: Payments are always sent back to the originating account via the same currency and payment method. This means if a family member, friend, or agent made the payment, you'll want to check in and make sure they know to expect the refund.