2024 Update! A complete guide to paying tuition fees for studying in Australia: 5 payment methods + a guide to avoiding pitfalls

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Hello everyone, I am the assistant of Australian Encyclopedia. Recently, some friends asked me aboutHow to pay tuition fees for studying in AustraliaNow I will summarize the related issues, hoping to help those who want to know more.


### 1. Five major ways to pay for studying in Australia
**1. International Bank Wire Transfer (TT Payment)**
- You need to provide the institution's BSB code, account number, and SWIFT CODE
- Bank of China/ICBC and other banks provide exclusive remittance packages for overseas students
- It takes 3-5 working days to arrive, and the handling fee is about 200-400 yuan

**2. Credit card online payment**
- Support Visa/Mastercard direct payment
- Real-time payment but currency conversion fee of 1.5%-3% is required
- The single limit is usually no more than AUD 50,000

**3. Third-party payment platform**
- Flywire: 42 currencies supported
- Western Union: provides exchange rate lock function
- EasyGo: Chinese customer service + account tracking

**4. Bank Draft**
- Suitable for schools in remote areas where electronic payment is not available
- The original document must be sent via EMS and there is a risk of loss
- Payment cycle up to 2-3 weeks

**5. Australian local bank transfer**
- Open a COMMONWEALTH/ANZ account after arriving in Australia
- BPAY payment system supports regular automatic deductions
- Be careful to avoid the peak payment period from the 1st to the 3rd of each month

### 2. Handling fee comparison table (taking payment of 20,000 Australian dollars as an example)
| Payment method| Handling fee| Time of arrival| Exchange rate advantage |
|----------------|-------------|-----------|------------|
| International Wire Transfer | ¥280 | 3 working days | Bank Spot Rate |
| Credit card payment | 2.5% | Instant | Real-time market price |
| Flywire | 1.2% | 1 business day | 72 hour lock |
| Western Union | Fixed $35 | Instant | Special Price |
| Bank draft | ¥150 | 14 working days | Exchange rate at the time of invoice |

###

The 8 major payment issues that international students are most concerned about

**Q1: What should I do if I miss the payment deadline? **
→ Contact the school's finance department immediately to apply for a late payment waiver. You will need to provide a remittance receipt and pay a late payment fee of $200

**Q2: Can I pay tuition via Alipay/WeChat? **
→ 12 universities including the University of Melbourne have opened the service, with a daily limit of 50,000 yuan for QR code payment

**Q3: What is the most cost-effective way to exchange currency? **
→ Pay attention to the low exchange rates in March-April and August-September each year, and purchase in batches through the bank's "Appointment Exchange" function

**Q4: How to submit payment receipt? **
→ The receipt needs to be uploaded to the school portal, naming format: StudentID_Name_PaymentDate

**Q5: What should I do if my large payment is frozen by the bank? **
→ Report the cross-border transaction to the bank 3 working days in advance and bring the acceptance letter to the counter for processing

**Q6: How to get a refund for duplicate payments? **
→ Fill out the Refund Request Form and the money will be refunded to the original payment account in 6-8 weeks. Cross-border refunds will be subject to a handling fee of $150

**Q7: What should I do if the school does not receive the payment? **
→ Request the bank to issue a TT Copy and contact the school to provide MT103 message to track the flow of funds

**Q8: Can I pay with cryptocurrency? **
→ Australia prohibits the use of virtual currencies such as Bitcoin to pay tuition fees, and formal channels are required

Australian Encyclopedia Assistant reminds: In 2024, the new regulations of the Australian Immigration Department require international students to keep at least 3 years of payment records. It is recommended to use bank electronic receipts + school receipts for double backup. When choosing a payment method, be sure to confirm the school's designated collection account. There have been cases where students mistakenly transferred tuition fees to an intermediary account, resulting in the cancellation of admission qualifications.

Thank you for your reading. I hope this article can help you understandHow to pay tuition fees for studying in AustraliaIt is recommended that you save this article and follow our "Cross-border Payment Monitoring" column to obtain the latest interpretation of foreign exchange control policies and update reminders of school payment channels.

> Tips: Some institutions offer "early bird discounts". If you complete the payment within 30 days after the COE is issued, you can receive a $500 scholarship. For details, please consult the institution's China office.
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