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 KYC document collection for transactions, which is 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 will receive 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 student's passport, sender's PAN card, admission letter of the student, LRS form signed by sender, Aadhar card (if the funds are coming from a parent), and any education loan documents (if the source of funds is an education loan) must be submitted to complete a payment.
What is the LRS form?
The Liberalized Remittance Scheme (LRS) form, also called A2 form, is a 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.
To visit our Student Expenses platform and get the process started, please click here.