What do 'OUR', 'BEN' and 'SHA' mean?

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Written by Currencies
Updated 10 months ago

When you make a bank transfer, the banks that send and receive your money may charge a fee for doing this.

Banks use codes (OUR, BEN, SHA) to show how these fees will be charged.

OUR
The sender will pay all the transaction fees.
The receiving bank will not pay any fees, so the person (or business) you’re sending money to will receive the full amount.

BEN
The person (or business) you’re sending money to will pay all the transaction fees. This usually means they will receive the amount you send minus the transfer charges.
The sender will not pay any fees.

SHA
The sender will pay all the sending bank’s fees (billed separately to the money transfer).

The person (or business) you’re sending money to will pay all the receiving bank’s fees.

They will receive the amount you sent minus any fees charged by the receiving banks (receiving fees) and any fees charged by other banks along the way (intermediary fees).

See also:
What are receiving and intermediary fees?

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