SWIFT payments fees. What is the difference between OUR and SHA type?

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When you make an international wire transfer (SWIFT) you can choose who pays the transfer charges. BEN, SHA, and OUR are codes in a SWIFT instruction with the following meanings:

OUR means the sender covers all the transfer fees. This means an extra fee is charged by Valyuz, but the beneficiary receives the full payment, and no intermediary bank fees are applied.

SHA (shared) means the sender only pays Valyuz's outgoing transfer fee. Beneficiary receives the payment minus the correspondent (intermediary) bank charges, if there are any.

BEN (beneficiary) means the sender does not pay any charge. The beneficiary receives the payment minus all transfer charges.

With Valyuz, BEN type fees are unavailable, you can only choose from SHA and OUR type fees when sending a SWIFT payment.

As there are no intermediary banks for SEPA payments, choosing between BEN, SHA and OUR is unavailable when sending funds in Euros via SEPA.

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