A complete guide to sending & receiving funds while studying abroad

Every year, more students from UAE study in top destinations including Australia, UK, USA and Canada. With annual costs exceeding AED 100,000, tuition is often the largest expense.

Families regularly send large payments overseas, so many are turning to faster, more affordable transfer options to ensure university fees are paid on time and students get the support they need.

Managing money while studying abroad can be overwhelming because students and families need to handle more than just tuition fees. International transfer fees, changing exchange rates, and regular payments for accommodation and daily living costs can increase the total cost of studying overseas. Many students are also using international payment systems and different currencies for the first time, which can make budgeting harder.

Not all international money transfers work the same way. Tuition payments and monthly living expenses differ in size, timing and urgency, so the best option for one may not suit the other.

The table below highlights the key differences between both types of payments and the transfer solutions UAE families commonly use for each:

The true cost of an international transfer is more than the service fee; it also includes the difference between the exchange rate you are offered and the real market rate. Many traditional banks mark up exchange rates by 3–8%, in addition to fixed wire transfer fees.

For a single AED 100,000 tuition payment, this can result in losing AED 8,000–12,000 in unnecessary charges.

The table below compares the most common money transfer methods used by families in UAE for education-related payments, based on typical fees, exchange rates and delivery speed:

IDP UAE supports you beyond university application. From choosing where to study to managing education payments, you receive guidance at every stage of your study abroad journey.

Through partnerships with Flywire and Convera, IDP connects students and families with secure, education-focused payment platforms trusted by thousands of universities across Australia, UK, USA, Canada and other destinations.

IDP counsellors are available in Dubai, Abu Dhabi and other cities across UAE to guide you through the payment process, either in person or online, at no cost. This means you do not have to navigate international banking systems on your own.

IDP's support includes:

• Recommending the correct payment platform based on your university's requirements

• Explaining fees, exchange rates and timelines in clear, simple language

• Helping you set up your first payment step-by-step

• Connecting students abroad with local banking and account setup guidance

• Following up on transfer status if there are any delays or issues

Step-by-step: paying tuition fees through IDP UAE

1. Visit your nearest IDP office or book a free online counselling session.

2. Your IDP counsellor confirms which payment platform your university uses, Flywire or Convera.

3. You are guided to the correct payment portal and receive a personalised payment reference.

4. Your family makes the payment in AED through any Emirati bank or exchange house.

5. The platform converts and transfers the funds, guaranteeing that the university receives the correct amount.

6. You and your family receive real-time tracking updates until the university confirms payment.

To receive money smoothly from your family in UAE, you need to set up the right accounts early. Here is what you should do once you arrive:

1. Open a local bank account as soon as possible: 
   Most universities help students open an account during orientation. In UK, student-friendly options include Monzo, Starling or HSBC. In Australia, consider CommBank or ANZ student accounts.

2. Share your full banking details with your family in UAE: 
   This usually include your account name, account number, sort code (UK) or BSB (Australia), IBAN/SWIFT code and bank address.

3. Use the correct reference for tuition payments:  
   If your university uses platforms such as Flywire or Convera, you will receive a unique payment reference. Share this with your family so they can use it when sending funds from UAE.

4. Set up a simple option for monthly living expenses:  
   Give your family your local account details and agree on a preferred transfer app to receive money faster.

5. Update your family if anything changes: Even small errors in bank details can delay transfers, so share updates immediately.

Practical tips for students abroad:

• Set up banking during your first week, do not wait until you need money urgently.

• Use a local debit card for day-to-day spending to avoid international transaction fees.

• Let your bank know in advance if you are expecting a large international transfer, so it’s not delayed for security checks.

• Keep digital records of all transfer confirmations to help you track all your finances.

Transfer charges and exchange rate markups can quietly increase the cost of studying abroad. These simple tips can help UAE students and families reduce costs and make smarter money transfer decisions.

• Combine payments where possible:  
  Sending larger, less frequent payments reduces the number of times you pay transfer fees. Where your university allows it, pay a full semester in advance through Flywire or Convera.

• Monitor exchange rates:  
  The AED is pegged to the USD, which helps with USD costs. However, GBP, AUD and CAD rates still change. Transfer when the rate is in your favour for non-USD currencies.

• Use the right platform for each payment:  
  Flywire and Convera are best for large tuition payments. Other providers are often better for smaller monthly transfers.

• Avoid airport or hotel exchange kiosks:  
  These usually offer the poorest rates and highest fees.

• Confirm your university's banking details:  
  Always check the official university website rather than emails to avoid scams.

• Set up bank account alerts for incoming transfers:  
  This helps you confirm quickly when funds arrive and update your family.

• Check for student offers:  
  Some banks and exchange platforms offer reduced fees for verified international students with a valid student visa or enrolment letter.

International transfers can expose students and families to unnecessary fees, delays, and scams if handled incorrectly. Knowing the most common mistakes can help protect your money and avoid payment issues.

• Using a personal bank wire for large tuition payments: Fees can exceed 12% of the total amount sent.

• Sending money through unverified payment links:  
  Shared links via email or social media claiming to be from your university, always use official university portals.

• Forgetting to include your student ID or payment reference:  
  Without it, the university may not be able to match the payment to your account.

• Waiting until the deadline to send money:  
  Bank transfers can take 3–7 business days; start at least 2 weeks early to avoid late payment issues.

• Sharing full bank account details through unsecured messages or email:  
  Use secure channels or share details in person where possible.

• Ignoring exchange rate markups:  
  Even a 5% markup on AED 100,000, which is AED 5,000 can result in a noticeable loss.

• Assuming one payment method works for all countries:The best option for sending money to UK differs from Australia or Canada.

• Not confirming the payment was received:  
  If you do not receive confirmation within the expected timeframe, follow up with your university.