TransferMate FAQs

By law, we must identify the person transferring funds to our bank account. Your identification will protect you and your institution against money laundering attempts.

Any letter of offer/acceptance, including your name, has been posted to you by the institution to which you wish to make payments. In addition, we must receive a scanned copy of your photo identification (passport). Typically applicable to China, India, Brazil, and South Africa.

Additional Student Information is required for certain countries due to country-specific international regulations:

For example:

• Chinese Students: Students need to provide their name in ‘Chinese Name Characters ‘
• India Students: Need to provide a Pan Number + funds must be less than USD 250,000
• Brazil Students: Need to provide a CFP Number
• US Students: Need to provide SSN Number 

Full list of other country-specific information is below:

Note: Countries and Information highlighted above are subject to change as per international AML policies.

Log in to your Student Account and scroll down on your homepage to monitor the payment status. You will also get an automatic email confirmation once your payment is cleared. Your school will also receive a similar email notification, and your payment will be posted to your student account. Contact a TransferMate Live Agent if you have additional questions  https://transfermateeducation.com/en/contactus.aspx .

Payment statuses are as follows;

1. Processing – a payment quote has been initiated, however, funds have not been sent
2. Promised – the funds have been received by TransferMate
3.  Cleared – the payment has been processed and sent to the school for posting to your account
4. Failed – the payment registration has not been completed and the transaction has been canceled or expired 

NOTE:  Your registration and/or housing will ONLY be confirmed once your payment has posted to your student account.  We will not delay your registration for any status listed above.    The payment must show posted on the student account. 

You can log in to your Student Account homepage to monitor the payment status or contact the Live Agent.

Please be advised that once you submit your registration, the rate you receive is valid for 48 hrs. If you cannot make the payment within those 48 hours, the registration will be canceled, and you need to register again for a new rate.

Registration will be expired and canceled if funds have not been sent within 48 hours.  Please be advised that once the registration is canceled, it can no longer be used, and you need to register again if you want to make a new payment.

APM means Alternative Payment Method. These include payment methods like Alipay, China Union Pay, Wechat, Rupay, Trustly, etc.

The best method is the one that fits your individual needs.

(Note: Bank transfers are faster and less expensive than credit cards. This is because credit card payments include merchant fees, whereas bank transfers do not have merchant fees.)

Credit Card/APM/E-Wallet payments can take longer to be cleared. Example: Payments made from a Union Pay, Visa, or MasterCard can take up to 3 to 5 business days.

Once the funds have been sent to Transfermate, it usually takes 24 -48 hours to make the transfer.

Once you complete and submit your payment registration, you will receive the payment instructions in your email, including all the banking instructions. If you choose to pay through an APM/e-wallet method, you will be automatically redirected to your e-wallet portal to complete the payment. 

Please be advised that once you submit your registration, the rate you receive is valid for 48 hrs. Following registration, you will need to make sure you complete the payment step. If you are paying by bank transfer, you will be emailed the bank details, and you will need to make an online bank transfer or a physical payment at your local bank. If you cannot make the payment within those 48 hours, the registration will be canceled, and you need to register again for a fresh rate.

A Payment Notification is automatically sent to your relevant institution once the transfer has been made. You can also view the cleared payment within your student portal.

Students may set up authorized users to view their billing information and or their student bill on their behalf. Please note that, in accordance with FERPA, this does not allow the authorized user to view your academic records, course schedule, or other personal information. Authorized users may view student account activity, make payments, and set up payment plans.

If your country of residence is not on the list, this means that currently, we are not authorized to make transfers from that country. Please choose the United States or another country in the dropdown menu listed.

No, however, several countries do require mandatory supporting documents as per banking regulations and laws. A good way to find out if your country is one of them is always to check your payment instructions and the confirmation e-mail sent by our customer service team – a list of countries will be provided there.

All TransferMate services are entirely free of charge, although your bank may charge you for making a local transaction. This is unfortunately out of our control.

All TransferMate services are entirely free of charge for international students paying in their home currency. However, your bank may charge for making a local transaction.This is out of our control. There is a $20 charge for any students paying in local USD.

TransferMate Education customer support is available 24 /7 for all student and client queries. The customer service channels can be found here - https://transfermateeducation.com/en/contactus.aspx

Click on the 'Live Agent' button in the link below, and you will be redirected to the agent.  https://transfermateeducation.com/en/contactus.aspx

You can log in to your student portal to monitor the payment status,  contact the Live Agent,  and check with your bank for the transaction status. https://transfermateeducation.com/en/contactus.aspx