FAQ Overseas Money Transfer
What types of services can be paid using Cohort Go?
Cohort Go is licensed to pay any international education institution and service provider including:
- Education institutions
- Insurance providers (can we remove this as our OSHC process can provide an instant OSHC certificate?).
- Accommodation providers
- Other international education service providers (such as homestay, guardianship)
- To the student’s own bank account for living expenses (except for Vietnam and China as restricted by the country’s government).
Across Australia, we have facilitated international payments to over 300 education and service providers, and more than 800 globally.
We hold an Australian Financial Services Licence (455592) and are registered with the Australian Transaction Reporting and Analysis Centre (AUSTRAC), Australia’s financial intelligence and regulatory agency.
How does Cohort Go transfer funds around the world?
We maintain local bank accounts or collection facilities in most source countries. Through this global network of banking partners, we’re able to efficiently move funds around the world.
Once we receive your funds from your home country, we then transfer Australian dollars to each recipient, such as your university or accommodation provider, or in the case of living expenses, directly into your Australian bank account.
How long does it take for my payment to be delivered?
Once we have received your local transfer, we will deliver your funds within 1-2 business days.
Once delivered, your education or service provider can expect to see the funds within 1-3 business days, depending on their accounting processes.
Throughout the transfer process, you will receive real-time tracking notifications via email, one with your payment instructions after you have created your payment, one when we have received your payment, and the final one when we have delivered your funds.
You can also check the status of your transfer anytime via your tracking link or at idp.cohortgo.app/en/verification
Can I transfer funds for living expense purposes?
To be able to make a payment for living expenses, students must have made a tuition fee payment with Cohort Go within the last 9 months. Funds must be sent to the student's own bank account in Australia.
Payments for living expenses are not available from all home countries due to local government restrictions. These countries include Vietnam and China.
Does Cohort Go charge any fees?
No, we do not charge any fees for our payment service, ever! By enabling students to pay in local currencies we are able to eliminate bank fees that are often incurred in sending global money transfers. We pride ourselves on being able to offer competitive foreign exchange rates to all students, helping to reduce your study costs.
Please note that when making a money transfer, your local bank may charge a transaction fee for this service.
How can I make a payment using Cohort Go?
Here are the simple steps to initiate a payment using Cohort Go:
Step 1. Enter your payment details in IDPs payments portal or speak to one of IDP counsellors
Step 2. We’ll provide instructions to make a deposit via your chosen payment method.
Step 3. Once we have your funds, we will deliver the local payments to your providers.
Step 4. Watch as we transfer your funds every step of the way with real-time tracking notifications.
How can I make a payment in my local currency?
Domestic payment options vary across different countries.
In most cases, your payment in local currency needs to be sent to Cohort Go by bank transfer with your local bank after you create your transaction. Once a payment is created, you will receive a confirmation email with payment instructions detailing the steps required to complete your local payment.
The instructions will include:
Step 1. The date required to complete the transaction. If not paid by this date, your transaction will expire and you will need to create a new payment.
Step 2. Direction to upload a copy of your payment proof to verify your transfer.
Step 3. Cohort Go’s local partner bank account details for the transfer.
For local currency transfers from China and Canada, immediate online payment services are available.
What documents do I need to provide to book my transaction with Cohort Go?
No need for time-consuming paperwork! Simply upload your Offer Letter or the invoice from your institution or service provider during the payment process. For your first payment, we also verify your identity. For this, you just need to provide a copy of your passport for your initial transfer. If someone else is paying on your behalf, you will also need to provide their passport for verification.
Some countries also have a few additional compliance requirements.
In India, for your initial transfer, you are required to submit a copy of the payer’s PAN card. For each transaction, you are also required to complete an A2 form. Once you have created your payment, you will receive a pre-filled copy of your A2 form to sign and return.
In Vietnam, where the payer is not the student, you are required to submit a copy of your family book or birth certificate with each transaction.
Can someone else make a payment on my behalf?
Yes, you can nominate a different payer than yourself when creating your transfer.
Some countries have restrictions on who can make a payment on your behalf.
In Vietnam, The State Bank of Vietnam requires the payer to be a direct family member. You will need to provide evidence that shows the relationship between you and the payer, such as your family book or birth certificate.
In India, The Reserve Bank of India requires the payer to be a parent. You will need to provide a copy of your parent’s PAN card.
Pay your study fees the smarter way.
Cohort Go is a unique global payments platform offering a fairer, smarter and easier way to pay your international education fees.
Securely pay tuition fees, living expenses and other education expenses in your local currency with competitive foreign exchange rates and no fees.
Get your study experience off to a flying start with:
- Instant quotes in your local currency.
- Competitive foreign exchange rates, saving you money.
- No transfer fees from us, ever.
- Real-time payment tracking every step of the way.
- Outstanding support team to help get you ready to GO.