Expense wire2/28/2023 ![]() ![]() It is a good idea to include this information in the terms of payment. In general, we would advise you to inform your participants that for cross-border wire transfers you expect them to use OUR as the expense regulation. In this case, you can say that for fees below 500 Euro, receiving payments via PayPal or Credit Card is usually cheaper than via bank transfer. As a rule of thumb the fees of international transfers are around 25 - 35 Euro/USD. The sender should therefore add the amount of these fees to the original transfer sum so that the recipient will receive the full payment. This means that the recipient will receive an amount that is lessened by the fees applied by all parties involved. Any intermediary banks and the sender’s bank deduct their charges directly from the amount being transferred. BEN (beneficiary pays costs) means that the sender does not pay any charges.The intermediary bank fees are deducted from the amount transferred. The sender's bank will charge the sender a fee for the payment orders, while the beneficiary pays the charges of any intermediary bank (and those of his / her own bank, if there are any). SHA (shared costs) means that charges are split between sender and beneficiary.also your intermediary bank details) to reduce this risk. Unfortunately, the overall process is non-transparent and it is hard to figure out who charged these fees and when this happens (or even get this unpermitted deduction back), but based on our experience it seems advisable to provide as detailed information for the transfer as possible (e.g. (Normally, the receiving bank does not charge fees you can find more information in the terms of your bank.) However, our experience shows that in practice it can still happen from time to time that some intermediary bank charges a fee and deducts it from the amount transferred. Usually, the sending bank will levy a flat fee for third-party charges and the senders will know the cost before they transfer the money. These fees include the charges levied by the sending bank and any charges applied by intermediary (correspondent) banks (see *explanation below). OUR (“Remitter pays all fees” or "Sender bears all transaction fees") means: All fees will be charged to the sender of the transfer and the receiver gets the full amount submitted by the sender.Most international wire transfers are done via the SWIFT network, and this network offers the payer three different expense regulation methods, which are called OUR, SHA and BEN (SWIFT standard field 71A "Details of Charges"): When your participants make an international wire transfer, they can usually choose who will pay the transfer charges. ![]()
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