It’s not a dream; neither are you in a fantasy world. The news has become real, and the excitement building up in your well of emotions is becoming surreal. It’s okay to feel overwhelmed and joyful about the next phase; of course, an exciting chapter for you and students of all age groups. No doubt, preparing to study abroad and getting everything ready, especially funds, is no easy task, filled with mixed feelings and constant reminders that your world is about to take a positive turn.
Naturally, studying abroad as an international student opens your mind, changes your perspective of the world and introduces you to opportunities. However, with butterflies and bubbles in your belly and the imagination of a new life knocking at your threshold, the chances of missing out on some vital details are high, which include how your international tuition fees would be paid in a currency different from your country’s local currency.
To help you get ahead of others and enjoy a smooth experience with funding, payments and exchange, this article ushers you into a world of freedom and shares insights on seamlessly making your international tuition payments without hassles. So let’s dive into this right away!
Cross-border payment challenges for international students
Cross-border payment can pose a significant challenge for international students who must pay tuition, accommodation, and other fees in a foreign country. Here are some common challenges faced by international students when making cross-border payments:
Exchange rate fluctuations: Exchange rates fluctuate frequently, making it difficult for international students to budget, plan their expenses, and pay tuition fees.
High transaction fees: International students may face high transaction fees when sending money across borders. These fees can add up and make it more expensive to make payments.
Lengthy processing time: International payments can take several days or weeks to process, creating delays and disrupting a student's financial planning.
Limited payment options: Some payment methods may only be available in some countries, making it difficult for international students to find a payment method that works for them.
Compliance with regulations: International payments are subject to various regulatory requirements, varying from country to country. This can make it challenging for international students to navigate the payment process and ensure compliance with local laws.
Can international students overcome the challenges mentioned earlier? Yes! This can be achieved by using the Leatherback app for all cross-border payments. But first, let's examine how Leatherback works and its benefits for international students across the globe.
Leatherback: Fastest cross-border payments for international students
Making international tuition payments is a top priority for international students, prospective students and their folks, and there are more straightforward ways to make this happen. Think of Leatherback as your special bird, placing you on its rump and taking you across borders with its wings and strength, ensuring you are not lacking in your financial needs. Yeah, that’s it!
Leatherback equips you with all you need to make payments in over 15 currencies across 21 countries. This implies that your tuition fees can be quickly paid without dropping a sweat. So, how does Leatherback work for international students?
Leatherback makes receiving funds in your local currency and a currency of your choice easier. Learn how to receive money or fund your account.
You can withdraw without fear of delay with instant payouts from any country. Let’s guide you through how to make international payouts from accounts and wallets.
And when you think about exchanging currencies on various wallets on your Leather multi-currency account, think of ease, comfort and freedom. See how to exchange funds across multiple wallets.
Making international payments is simple and fast. On the Leatherback app, this can be done using the Sendr feature on your account dashboard in the currency you want to send. Check out how to initiate a Sendr transaction with the beneficiary and without a beneficiary.
Now that you are aware of how Leatherback works for international students, let's discuss the benefits that await you with Leatherback:
Convenience: Leatherback provides a convenient way for you and every international student to pay tuition fees and other expenses through transfers.
Swift payments: Pay your institution's bank address without delay or issues.
Cost savings: International students can save money through competitive exchange rates without breaking the bank or being subjected to incessant fees.
Flexibility: Leatherback provides international students greater flexibility in managing their finances, as they can choose to save money in a currency that best suits their needs and preferences.
Security: Leatherback ensures payments are protected using advanced security measures such as encryption and multi-factor authentication, providing international students with greater peace of mind when making payments.
Conclusively, Leatherback offers international students a convenient, swift, and cost-effective way to make tuition payments and other expenses while studying abroad, making it easier for them to focus on their studies and succeed academically.
How to get started with international payments on Leatherback?
Indeed, the Leatherback app has a user-friendly interface and customer support to help you pay international tuition fees, and you can transact in 15+ currencies. Here are the steps to get started with international payments on Leatherback:
Visit our website, Leatherback.co, to open a Leatherback account or download the Leatherback app on App Store or Play Store.
Click on 'Create an account'.
Sign up as an 'individual' by inputting your residence location.
Create your account with an email address and enter your password.
To comply with regulatory requirements, verify your email address using a confirmation code that will be sent to your mailbox.
Click on the entity type you want onboarded as 'Individual'.
Verify your identity
Enter your personal details (Name, residential address, phone number, state etc.)
Upload your means of identification and proof of residential address.
Verify the documents uploaded. We verify your documents, and this takes up to 48 working hours.
We've curated some videos just for you to guide you through signing up and making payments on the Leatherback app. Click here to watch.
There's more to learn!