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Flywire Exchange Rates - Fees and Charges Reviewed

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Flywire Review

To begin with, Flywire is the life saver for larger currency transfers, making life much easier and satisfying for the customers’ needs and objectives.

In fact, Flywire has the answer to all of your questions and you will not have to stress out over sending your money internationally. At first, Flywire was meant to be for international students, but since then it has tremendously expanded. Nowadays, it touches on businesses, people and many more to come.

In the first place, Iker Marcaide created Flywire when he tried to pay his tuition fees. As an international student, he had to make a payment from his bank based in Spain to an American bank. Iker ran into some roadblocks on making this transfer. As a result, he came up with Flywire to help out foreign students when they must make a transfer across borders.

This concept really was very useful for many students and they are grateful that Marcaide made it happen. It is always in dire situations that humans are more creative, imaginative and productive. If it would not be for Marcaide’s failed transaction, none of this would have happened and it would have been a shame. Then, it led Marcaide to make Flywire something more impactful.

Flywire Exchange Rates

It all began in October 2015, when Flywire started exploring other areas such as healthcare, giving people across countries a better way to pay for overseas medical treatments. Earlier this year, Flywire stated that the start-up was going after international business-to-business payments.

So far, Flywire has acquired over $5 billion in cross-border payments, with $2 billion of that happening in the last fiscal year alone. For the 2017 fiscal year, they are hoping that the process goes roughly by $3 billion. Across its three businesses, Flywire has thousands of clients in twenty different countries that accept payments using its system.

Over the past few years, the company has flourished in so many ways and implemented new ideals. As a matter of fact, they are not done going beyond boundaries, they are just getting started. First and foremost, the company manage to negotiate favorable foreign exchange currency with international banks, so that individuals will pay less if they had to use a traditional bank or wire transfer service. The company also accepts payments in more than 100 local currencies from over 200 countries and territories. Another element that must be taken into account is that Flywire offers customer support 24 hours a day, seven days a week.

The company has also increased the number of means for Flywire’s customers to make payments safely. Not long ago, it was reported that individuals in the United States, Canada, United Kingdom and EU countries can make payment through PayPal. They can also pay by using these means that is to say MasterCard, American Express, WeChat and AliPay.

Flywire's progress to over 180 employees in eight offices across the globe has been facilitated by three acquisitions it has made in less than three years. Its most recent asset was PACE Invoice, a London-based business whose platform is being used to help Flywire's business, healthcare and education clients generate satisfactory invoices.

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