Yes, Flywire sends daily notifications of funds received. We also provide an administrator portal allowing your staff to log in at any time to see which wires have been initiated and received. From here your staff can search for transactions and run reports. This portal removes the guess-work from the wire process. No more waiting and wondering if a payor sent the bank transfer, or trying to determine which account funds should be posted to. This will also help with sanctions. The bank transfer process typically takes a couple of days and this window into funds initiated should be a great tool to help manage receivables.
You can check the status of your transactions 24 hours a day. Simply log onto Flywire and click the tracking number for that desired transaction. Flywire’s system updates transfer statuses in real time.