Every outgoing wire transfer contains a specific code that determines who should pay for the transfer fees levied by all of the banks in the payment chain.

Specifically, based on your preference, we will enter the below codes in the “Correspondent Bank Charges” field of your outgoing wire transfer, known as SWIFT Field 71A.

• BEN – Intermediary transfer fees are paid by the beneficiary. The payee will receive the payment minus all transfer fees incurred on the payment chain.
• SHA1 – Intermediary transfer fees are shared. This is the default charge type if no other is selected.
• OUR – Intermediary transfer fees are paid by the sender. The receiver will receive the full amount of the wire. OUR payments are more expensive in order to cover the cost of the intermediary charges2.

View all outgoing wire transfer fees here. We currently do not offer OUR charge type on outgoing USD wire transfers.3

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1Due to EU regulations regarding certain payments made within the SEPA region SHA may be mandatory and the charging instruction will be modified accordingly.
2The Bank reserves the right to amend the additional “OUR” transfer fee after the payment has been sent if the correspondent charges that are ultimately billed substantially deviate from the additional charge.
3In the US market there is no certainty that OUR will be applied by all intermediaries as some of the domestic clearing systems do not specify a charge option and may treat the payment as SHA.