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Fee Payments Flywire
Quote from Admin on November 23, 2021, 10:29 amUoL uses Flywire to process their payments. Be careful what you use to pay your fees. Flywire doesn't offer cheap payment options, their general FX rates are very expensive and range from 4% to 6% above market rate. Flywire wants you to pay in your local currencies so they can mark up the FX rates, just like PayPal. In order to do that, they enable by default payments in your local currency while hiding away the option to pay in GBP, don't get fooled by the "Best Price Guarantee" sales pitch.
It's often much much cheaper to use the FX rates from your credit card or your bank. Certain credit cards offer market FX rates for international payments with no additional charges.
If you want to pay your fees in GBP and not your local currency, make sure to enable the "I want to pay in another currency" option. Only then, you will see the option to pay in GBP via wire transfer etc.
It's quite deceiving to label the option to pay in the currency the University uses as "another currency".
UoL uses Flywire to process their payments. Be careful what you use to pay your fees. Flywire doesn't offer cheap payment options, their general FX rates are very expensive and range from 4% to 6% above market rate. Flywire wants you to pay in your local currencies so they can mark up the FX rates, just like PayPal. In order to do that, they enable by default payments in your local currency while hiding away the option to pay in GBP, don't get fooled by the "Best Price Guarantee" sales pitch.
It's often much much cheaper to use the FX rates from your credit card or your bank. Certain credit cards offer market FX rates for international payments with no additional charges.
If you want to pay your fees in GBP and not your local currency, make sure to enable the "I want to pay in another currency" option. Only then, you will see the option to pay in GBP via wire transfer etc.
It's quite deceiving to label the option to pay in the currency the University uses as "another currency".