Key takeaways
- Your school picks which platforms it accepts, so start with its payment page
- Platforms usually build their cost into the exchange rate; banks often charge a fee and a rate markup
- Compare the total in your currency against the mid-market rate, not the advertised fee
- Platforms match payments to your student number automatically; wires need a correct reference
- This page does not list prices because they change daily and differ by country
The short answer
There is no single cheapest provider. The cost depends on your country, your currency, the amount and the day. What you can control is the route: use one your school supports, get two or three quotes at the same time, and choose the one where you pay the least in your currency.
Run your quotes through the tuition payment cost calculator to see the difference in money.
How the main routes compare
| Flywire | Convera | PayMyTuition | Bank wire | |
|---|---|---|---|---|
| What it is | Education payment platform used by many schools worldwide | Payments company (formerly Western Union Business Solutions) with a student payment service | Payment platform focused on international tuition | A transfer from your bank to the school’s bank |
| Where you start | School portal or Flywire page for your school | School portal or Convera student payment page | School portal or PayMyTuition page | Your bank, using the school’s wire details |
| Matched to your student account | Yes | Yes | Yes | Only if your reference is correct |
| Rate shown before you pay | Yes | Yes | Yes | Varies by bank |
| Where the cost is | Mainly in the exchange rate; check for any separate fee | Fee plus rate markup, and possible fees from banks in the middle | ||
| Accepted by your school? | Only if your school lists it. Check your school’s payment page | |||
Descriptions are from the providers’ public information, checked October 2026. Features and availability differ by country.
Payment platforms: what they do well
- Fewer lost payments. The platform creates a payment linked to your student number, so the school knows it is yours.
- Local payment options. In many countries you can pay by a local bank transfer in your own currency, which can be simpler than an international wire.
- Clear amount. The school receives the exact Canadian dollar amount, so you are not left short by fees in the middle.
- Tracking. You can see when the payment reaches the school.
The trade-off is the exchange rate. A platform’s rate includes its margin. Sometimes that is lower than your bank’s, sometimes not. Always compare.
Each platform also has its own rules on how long a quote is valid, which local payment methods it offers in your country, and how it handles refunds. Read these on the platform’s page for your school before you pay. If your payment is late or the school has not received it, contact the platform first with your payment reference, then the school’s student accounts office.
Bank wire: when it makes sense
A wire can be the right choice when:
- your school does not use a platform that works in your country;
- your bank gives you a good rate, for example as a premium customer;
- your country’s rules require payment through a bank (for example, some education remittances from India are processed by your bank under LRS whichever route you choose).
To avoid problems, send the full amount in Canadian dollars, ask your bank to cover fees in the middle, and put your student number and name in the reference. More tips: how to pay tuition from abroad.
How to compare quotes fairly
- Find today’s mid-market rate for your currency against the Canadian dollar (Google, XE or the Bank of Canada).
- Get the platform quote for your exact tuition amount. Note the total in your currency.
- Ask your bank for the total to wire the same Canadian dollar amount, including all fees.
- Compare each total with tuition × mid-market rate. The difference is what the route really costs you.
Example: tuition is CAD 20,000 and the mid-market rate is 67.7 rupees per dollar, so the base cost is ₹13,54,000. A quote of 68.4 costs ₹13,68,000, which is ₹14,000 (about 1%) above mid-market. A bank quote of 69.2 plus a ₹1,500 fee costs ₹13,85,500, which is ₹31,500 more. These are example numbers, not real quotes.
Other costs to plan for
- Home-country tax: India collects TCS on education payments above ₹10 lakh a year (2% from April 1, 2026, nil if paid with an education loan). See the India TCS calculator.
- Proof of funds: IRCC wants proof you can cover first-year tuition and living costs. A paid tuition receipt helps. See study permit proof of funds.
- Living costs: estimate rent, food and transit with the cost of studying calculator.
Checklist before you pay
- Open your school’s official tuition payment page from its website, not from an email link.
- Confirm which routes it accepts for your country.
- Check the amount due, the deadline and the refund policy if your study permit is refused.
- Get a platform quote and a bank quote at the same time.
- Compare totals with the mid-market rate in the cost calculator.
- Pay, then save the confirmation and ask for the school’s official receipt for your study permit file.
Which route fits which student?
- Your school lists a platform that works in your country: start there. It is usually the simplest and safest choice for your first payment.
- Your bank offers you a good rate, and you know how to wire: compare its total with the platform. Use the wire if it is cheaper and you can include the right reference.
- Your country’s rules require a bank process: your bank may handle the payment either way. Ask whether it can pay through the school’s platform.
- You are already in Canada with a Canadian account: pay later terms through online banking or the school’s portal in Canadian dollars.
Still deciding? Try the tuition payment method chooser.