Anyone have experience with wire transfer fees or intermediary bank fees?

[ARCHIVED THREAD] - Anyone have experience with wire transfer fees or intermediary bank fees?

Posted: 9/2/2015 6:07:40 PM EDT

My customer (outside the USA) is paying me periodically via wire transfer. Every payment has ~$50 deducted for intermediary bank fees, plus my bank charges me an additional ~$15 for receiving a wire transfer.

I have no problem paying my bank's fees.

Question: who normally pays these intermediary bank fees?

In my view, it's up to the customer to get the funds to me. They can send a check, cash, wire transfer, or whatever. But if some intermediary banks make a deduction from their payment, it's up to my customer to cover it.

Posted: 9/2/2015 6:16:17 PM EDT

[#1]

Just add the Intermediary bank fees to future invoices.

Posted: 9/2/2015 6:18:23 PM EDT

[#2]

I've both sent and received wire transfers, but only from US banks. USAA charged me $20 to send a transfer, but did not charge to receive a transfer.

Posted: 9/2/2015 6:19:07 PM EDT

[#3]

Price it into your product. Most banks charge a fee to receive wires, though a few don't. Check your customer agreement for your bank's list of charges.

Posted: 9/2/2015 6:19:17 PM EDT

[#4]

Quoted:
My customer (outside the USA) is paying me periodically via wire transfer. Every payment has ~$50 deducted for intermediary bank fees, plus my bank charges me an additional ~$15 for receiving a wire transfer.
I have no problem paying my bank's fees.

Question: who normally pays these intermediary bank fees?
In my view, it's up to the customer to get the funds to me. They can send a check, cash, wire transfer, or whatever. But if some intermediary banks make a deduction from their payment, it's up to my customer to cover it.

View Quote

Agree with you.

They are sending you a specific amount, so they are are responsible for the fees in getting the payment to you. They have other options.

Posted: 9/2/2015 6:27:25 PM EDT

[#5]

Quote History

Quoted:

Agree with you.

They are sending you a specific amount, so they are are responsible for the fees in getting the payment to you. They have other options.

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View All Quotes

Quote History

Quoted:

Quoted:
My customer (outside the USA) is paying me periodically via wire transfer. Every payment has ~$50 deducted for intermediary bank fees, plus my bank charges me an additional ~$15 for receiving a wire transfer.
I have no problem paying my bank's fees.

Question: who normally pays these intermediary bank fees?
In my view, it's up to the customer to get the funds to me. They can send a check, cash, wire transfer, or whatever. But if some intermediary banks make a deduction from their payment, it's up to my customer to cover it.

Agree with you.

They are sending you a specific amount, so they are are responsible for the fees in getting the payment to you. They have other options.

^ This.

The only other thing would be if there is a currency conversion going on. It is possible that the conversion rate the bank is using is slightly different than the market trend.