how it works

Frequently Asked Questions

• Who is TransferMate?

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  TransferMate is a market leading, globally regulated, payments technology company, enabling users to send cross-border payments faster and easier than ever before.

• What Customer Support do you offer?

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  Our Customer Service team are available 24/5 Monday to Friday and at weekends. For all enquires the fastest way to get help is through our Live Chat or alternatively, you can send your queries to edu@transfermate.com.

• Do I need to provide any documents?

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  In some cases, you may need to upload documents, either during the payment process or as indicated in the payment instructions.

• Can a family member pay on my behalf?

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  Yes, this is possible however some identification documents may be required. Please be advised that some restrictions apply if you are paying from India or China.

• Will I be charged for using this service?

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  TransferMate does not charge a fee for cross currency transactions. You may be charged by your bank for making a local transaction and this is unfortunately out of TransferMate's control. TransferMate may apply a fee for same currency transactions.

• How long does it take for the institution to recieve my payment?

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  Once TransferMate receives your funds, your funds are transferred to the institution without delay, usually within 48 hours (excluding weekends).

  Typically, if you send your funds to us via bank transfer it will take between 2-3 working days to reach our bank accounts. However, some banks may take longer, and this is outside of our control. Your bank can advise you of timeframes.

  Credit card payments take between 3-7 working days for the funds to clear into our account. TransferMate can only transfer cleared funds.

  If your payment status has not changed for 3 working days after you have sent the funds to us, please request proof of payment from your bank (bank receipt and SWIFT MT103 when available) and send it to us at edu@transfermate.com and our Customer Service Team can check for an update.

• What is the status of my payment?

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  To check the status of your payment, please navigate to the Payment History section and there you can check the status of your payment.

  Status Explanation

  • Registered: You have successfully registered and TransferMate is awaiting your funds
  • Pending: Funds have been received by TransferMate and your payment is being processed
  • Paid: TransferMate has sent the funds to your institution
  • Inactive: The booking is no longer active as TransferMate has received a cancellation request from you, or funds have not been received within the agreed timeframe.

  If your payment status has not changed for 3 working days after you have sent the funds to us, please request proof of payment from your bank (bank receipt and SWIFT MT103 when available) and send it to us at edu@transfermate.com and our Customer Service Team can check for an update.

• Can you provide me with a reciept for the payment?

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  All invoices (after the programme starts) and official receipts (on request) are issued by INSEAD in the student’s name, unless a sponsorship form has been submitted.

• How long does it take to process my refund?

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  Refunds are processed as soon as possible.

  However in some instances proof of payment is required (confirming the full account name and number) to process your refund. Our Customer Service Team will contact you if this is the case. Proof of payment must be submitted to Transfermate within 5 working days, or the funds will be returned to the institution.

  Please note that some refunds depending on the payment method may take up to 15 working days to credit back to your account.

• How can I cancel a payment?

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  If you would like to request a cancelation, please navigate to your installment on the Tuition Payments tab and click Details - Request Cancelation.

• My card was declined?

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  If you have sufficient funds and you have entered your card details correctly, please check with your card provider if there are any restrictions or limits to your card payments.