AUSTRALIA UNIVERSITIES SPEND ONE WEEK PER MONTH JUST PROCESSING INTERNATIONAL STUDENTS FEES PAYMENTS
Aussie universities spend one week per month processing international fee payments
Australian universities are losing almost an entire working week each month to processing international payments, according to research from global payment service Western Union and the University of Sydney.
The research surveyed 100 finance teams at universities across Australia, and found that on average, 57 working days every year are spent on staff processing and reconciling payments for international students.
Almost one third of those surveyed said the time and manpower required to process international money transfers was the biggest challenge, while 34% said students being unable to use preferred payments methods in their home country was the major hurdle.
And it’s not just the universities who are losing valuable time to tricky international payment processes. A considerable 46% of international students also reported difficulties when trying to pay Australian university fees.
And it’s not just the universities who are losing valuable time to tricky international payment processes. A considerable 46% of international students also reported difficulties when trying to pay Australian university fees.
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