Easily and securely process outgoing payments with Flywire

Having trouble processing payments to agents students or vendors?

Flywire simplifies and streamlines creating, approving and tracking outgoing payments.  With Outgoing Payments enabled you will see two new modules on your Flywire dashboard, allowing you to process outbound payments efficiently and securely. In the beneficiaries module you can add and manage your beneficiaries and their bank information, assign groups such as student, agent and supplier to each record, allowing you to report on the beneficiary type if you wish. You can add beneficiary records individually or via file upload; if you need to create multiple records at the same time, or don't know the beneficiaries bank information, no problem - the system can send a branded email to your beneficiaries securely, requesting, receiving and then storing their information. 

Once a beneficiary is active, the outgoing payments module enables you to send domestic and international payments in local and foreign currency. For increased security you can configure up to five layers of approval, meaning you can customize the approvals to your organization's unique internal workflows. You can create payments manually with just a few clicks or upload a file to optimize efficiencies. To manage the costs associated with each payment, you can choose to pay the transaction fees or pass them on to the recipient. Once the payment has been approved, you will have full visibility of the funds' location by viewing the payment statuses. 

We would welcome the opportunity to talk to you in more detail about our exciting new outgoing payments feature; please reach out to your relationship manager or our dedicated payables support team who will be happy to discuss this with you in more detail.