ICICI Bank ties up with Westpac Banking Corporation to allow Indian students pay fee online
Abhay Anand | July 10, 2018 | 05:57 PM IST | 1 min read
NEW DELHI, JULY 10: ICICI Bank has announced its partnership with ‘Westpac Banking Corporation’ (Westpac) to offer Indian students a completely online payment solution through its ‘Money2World’ (M2W) platform for outward remittances.
The two banks have partnered with La Trobe University for this initiative and ICICI Bank aims to tie up with other universities and colleges in Australia as well.
With this, Indian residents, who are customers of any bank in India, can initiate an online remittance to make fee payments to an Australian university at a fixed exchange rate from the comfort of their homes, any time.
The transactions carried out by students using the Money2World platform is integrated with Westpac’s ‘PaymentsPlus’, a banking and reconciliation solution for universities and colleges. This facility significantly enhances convenience for students as it simplifies a lengthy paper-intensive process to a completely paperless and online facility that eliminates multiple visits to a bank branch. It also shortens the fee transfer process to a few days without levying any additional charges. Further, it also empowers the student and the university with a unique reference number which will help them track the payment and its reconciliation.
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