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Common questions about refunds

A refund is the returning of funds to a payer due to inadequate or unfulfilled goods or services, or goods and services that were not provided or not provided as described. For example, a student might request a refund if they withdraw from a class after registration, or may receive a refund if they made an overpayment.

How to request a refund with Flywire

If you made your payment through Flywire, then the refund should also be made through Flywire. If you wish to request a refund of an amount sent to Flywire, you will have to wait until your institution approves and authorizes the refund.

Once the payment has been delivered, kindly contact your institution to request the refund. All funds sent to Flywire are considered property of the institution that they are sent to and will always be delivered to them. They will use their discretion to refund the money to the originating account through Flywire. The duration of the refund process depends on the currency and country that we are refunding back. We will always inform you once your refund has been issued.

For compliance purposes, all refunds are to be returned to the original bank account from where the payment came from, and no refunds for cash deposits will be processed.

Are there charges associated with my refund?

Yes. In order to cover the bank fees Flywire incurs from your refund, you will be charged a fee. This fee will vary depending on the currency.

For institutions, how should the the risk of fraud be mitigated when dealing with credit card payments and chargebacks?

Oftentimes a fraudulent credit card transaction is followed up by a request for a refund and for the money to be returned via a different medium (i.e., a different bank account).

Here are some best practices for dealing with this type of situation:

  • Always process your payments and payment reversals through Flywire. We can confirm information and manage the process for you. Our process provides you with the best protection against fraud.
  • Never complete a payment reversal by different methods or a different account. Without exception, always refund to the identical point/account of origination.
  • Train staff in fraud and chargeback detection and prevention techniques, especially those covering for people out on vacation, leave, or holiday.
  • Be on the lookout for suspicious transactions and unusual requests such as:
    • Substantial overpayment of fees, followed by a request that the excess amount be refunded.
    • Claims a payment was made to the “wrong institution” (e.g., payment was meant for another institution but the payer claims they paid your institution by mistake).
    • Request that a chargeback be satisfied directly by the institution through means different than the original method of payment (e.g., payment by credit card with a request for reversed payment through a check).
    • Pressure tactics. Often fraudsters will rely on pressure by contacting an institution with harassing phone calls or persistent emails. Please contact Flywire in this situation, and we can manage the refund process.
    • Complex personal situations. The refund request may come with a very complicated story about credit cards being cancelled, or travel plans being ruined. We need to be empathetic to these situations but also vigilant in preventing fraud.

When in doubt, contact Flywire. The Flywire service provides for management of all refunds and chargebacks. Our Client Success and Customer Service teams are experts at handling refunds and will immediately follow up to invest suspicious refund requests or assist you in the refund process.

What customers are saying...

“It is very fast and easy to do.”
Payer from China