Key takeaways
- Pay the school using the method on its own website or invoice: often a payment platform or a bank wire
- Philippine banks need the Application to Purchase FX form; up to USD 500,000 a day needs no extra documents for individuals
- Scotiabank and RBC list the Philippines as an eligible country for their student GIC programs
- IRCC proof of funds for a single student outside Quebec is CAD 23,448 a year for living costs, plus tuition and travel (applications from September 1, 2026)
- Keep every receipt: you may need them for your study permit application
What are the ways to pay tuition from the Philippines?
| Route | How it works | Pros | Cons |
|---|---|---|---|
| School payment platform | You start on the school's payment page; the platform gives you local payment instructions and pays the school in CAD | Rate shown up front; payment linked to your student ID | Only if your school offers it; the rate includes a margin |
| Bank wire from your Philippine bank | Your bank sends CAD or USD to the school's bank account | Works for every school | Fees on both ends; intermediary banks may deduct fees, so the school may receive less |
| Wire from a parent's account | A parent's bank sends the payment | Common for family-funded students | Keep proof of the relationship and the funds for IRCC |
For a side-by-side look at platforms, see Flywire vs Convera vs PayMyTuition vs bank wire. For the general steps for any country, read how to pay tuition from abroad.
What does your Philippine bank need?
The Bangko Sentral ng Pilipinas (BSP) FX Manual sets these rules for buying foreign currency from a bank:
- Application to Purchase FX form. You fill this in for every purchase and state the purpose, such as "tuition".
- Up to USD 500,000 per day. For individuals, the form is enough for non-trade payments up to this amount. Tuition for one year is usually well below it.
- Bank KYC. Banks can ask for more, under their Know Your Customer rules. For tuition, expect to show the school's invoice or acceptance letter, and your ID.
The BSP rules do not require you to have a deposit account at the bank to buy foreign currency. In practice, an account makes a wire easier. Ask your bank about its cut-off time and fees before the school's deadline.
Can Filipino students buy a Student GIC?
Yes. A Guaranteed Investment Certificate (GIC) holds your living money in a Canadian bank. You get it in parts after you arrive. Two banks list the Philippines on their eligible-country pages, as of October 10, 2026:
- Scotiabank Student GIC Program: investment from CAD 5,000 to CAD 50,000. You wire the amount plus a CAD 200 processing fee. Funds must come from the student's account in the home country, or a joint account with parents.
- RBC International Student GIC: lists the Philippines among nine eligible countries and says no program or handling fees apply.
Other banks run GIC programs too. Compare them in Student GIC in Canada.
How we handle offers. Bank and program details on this page come from each bank's own website and were last checked on October 10, 2026. Banks change their programs often, so confirm the details on the bank's site before you apply. No bank pays to be included or ranked here. If a link on this page ever earns us a commission, we will label it next to the link.
How much money does IRCC want you to show?
Immigration, Refugees and Citizenship Canada (IRCC) says a single student outside Quebec needs CAD 23,448 a year for living expenses. This applies to applications made on or after September 1, 2026. It does not include tuition or travel.
IRCC accepts several kinds of proof. Examples are a GIC from a Canadian financial institution, bank statements for the past 6 months, or an education loan. Proof that you paid your first year of tuition and housing also counts, with proof of funds for living and travel. Check the latest amount in study permit proof of funds.
Worked example: first-year payments
Jose is accepted to a college in Ontario. His tuition deposit is due before his study permit application.
- He pays the deposit through the college's payment platform. He pays in pesos at his local bank, using the reference number the platform gives him.
- His parents wire money to his Scotiabank Student GIC from a joint account in Manila. They fill in the Application to Purchase FX form and state "education".
- He saves the tuition receipt, the GIC confirmation and six months of bank statements for his application.
- After he arrives, he visits the bank to activate his account and receive the first GIC payment.
What does a tuition payment really cost?
The price of a tuition payment has three parts. Ask about each one before you pay:
- Sending fee. Your Philippine bank charges a fee for an outgoing wire. Platforms may charge nothing extra, but build their margin into the rate.
- Intermediary and receiving fees. Banks in the middle may take a fee from the amount. The school then receives less than the invoice, and you may owe the difference.
- Exchange rate margin. This is often the largest cost. Compare the rate you are offered with the mid-market rate on the same day.
For example, on a CAD 20,000 tuition bill, a 2% rate margin costs CAD 400. A 4% margin costs CAD 800. Use the tuition payment cost calculator to compare quotes.
Mistakes that delay payments
- Wrong reference. Always add your student ID to the wire. Without it, the school may not match your payment.
- Fees taken from the amount. With a bank wire, intermediary banks may deduct fees. Ask your bank if you can pay all fees yourself.
- Paying an agent's account. Pay only the school, or the platform linked from the school's own website. See tuition payment scams.
- Last-minute wires. International wires can take several business days. Send well before the deadline.
- Not reading the refund policy. If your study permit is refused, the school's refund rules decide what you get back. Read them before you pay, and keep the refusal letter. Scotiabank also keeps CAD 15 of its GIC fee if you cancel within 14 business days of account opening, and the whole CAD 200 fee after that. Wire and exchange fees are not refunded.