Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
SBI–Flywire tie-up date24 May 2023Effective 24 May 2023
Source 1Payment purposeEligible education-related fees to participating foreign universities or colleges
Source 2Institution markets stated by SBISBI says participating universities in the United States, United Kingdom and Canada are presently linked; the institution must appear in Flywire checkout or provide its Flywire payment link
Source 3Published checkout currencyIndian rupees from an eligible local-currency account, with Flywire or the payer's bank handling conversion depending on the selected payment method
Source 4Payment methods describedStandard SBI bank transfer or debit/credit card where offered; exact methods depend on origin country and institution
Source 5Published checkout processFind the institution, enter origin country and amount, choose a method, enter payer and institution-required details, review, pay through the selected transfer/card/online route, then track from the emailed link
Source 6Payment trackingFlywire emails a tracking and instruction link; status updates after Flywire receives the funds and after delivery to the institution
Source 7Daily payment limitUSD 25,000 equivalent per day
Source 8Financial-year payment limitUSD 250,000 equivalent in a financial year from 1 April to 31 March, subject to current LRS rules and remaining utilisation
Source 9SBI processing responsibilitiesHold received funds until deposit to the designated settlement account, verify KYC and regulatory alignment, collect applicable taxes from the payer's account, convert INR to the agreed currency and provide settlement reports
Source 10SBI transaction-record retentionAt least three years after the transaction or relevant payment, in accordance with applicable law
Source 11Additional information or documentsFlywire may request additional information and documents for certain methods where local regulation requires them; payer details must match the account holder, card holder or person paying
Source 12SBI escalation contactsFirst escalation: 022-20752875 /
Source 13Benefits and features
- Digital education-fee checkout from India in local currency
- Live payment-method quote and email tracking through Flywire
- SBI KYC, tax, currency-conversion and settlement processing for transactions it handles
Eligibility
- The university or college must be available in Flywire checkout or provide a valid Flywire payment link, and the payment must be an eligible education purpose under current RBI LRS and SBI rules.
- Payment methods, card availability, live exchange rate, taxes, fees, institution data and required regulatory evidence vary by checkout; review the complete quote before paying.
- The published USD 25,000 daily and USD 250,000 financial-year limits are subject to current regulation and the payer's remaining LRS utilisation.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Payer details matching the account holder, card holder or person making the payment
- Institution-required student, invoice, contact and payment information
- Any additional information and documents requested by Flywire or SBI for the selected method under local regulation