International transfers: intermediary bank fees

💡This article will tell you more about 2 options of paying fees that exist when an international (SWIFT) transfer is issued from your Finom account

All international payments are passed from one issuer to the recipient using intermediary banks. This may incur additional fees, and as a result, the recipient receives an amount that is less than the initially issued transfer.

When you issue an international (SWIFT) transfer from your Finom account, using your international wallets (in any of the available currencies), you will be presented with a choice regarding paying fees.

On the page of transfer, you will see a field “Intermediary bank fees” that gives you 2 options :

If you chose the first option “Shared with recipient (SHA)”, this will mean that you agree that the intermediary bank may take some fees out of the amount you are sending, and the recipient will receive less money than you sent. You will not be charged additional fees (except standard Finom fees that apply to international transfers)

If you choose second option “Paid by you (OUR)”, you will be charged an additional fee that will go to intermediary or recipient bank fees. The recipient will receive the full amount of the transfer.

You will be able to see detailed information about the fee you pay in the transfer page :

When an international transfer is issued from the Finom app, you will also have the possibility to choose intermediary bank fees on the transfer page.

The fee will be shown in your dashboard as a separate transaction with a corresponding invoice.