University College Cork

Background

University College Cork (UCC) opened its gates to just 115 students in 1849 and now has a student population of over 22,500. It is ranked in the top 2% of universities worldwide and is a globally oriented, research-led institution. UCC is also the first university in the world to be awarded the International Green Flag for Environmental Friendliness.

Challenge

UCC receives thousands of multi-currency payments through checks, bank transfers, and credit cards from international students. Bank fees and international charges resulted in the university receiving less than expected.

International payments were also difficult to reconcile because of uneven amounts and missing reference numbers.

Solution

TransferMate has provided UCC with a complete solution for international student payments. The university now receives payments in less than 48 hours, and as these payments are fully referenced, they can be instantly reconciled.

Students are guaranteed preferential exchange rates through TransferMate’s global payments network. Fee payments can be made securely online in just a few steps—providing a seamless payments experience for UCC’s international students.