SWIFT is a messaging network, not the bank holding your money
SWIFT provides the messaging standards banks use to instruct and track many international payments; it is not itself the institution holding the traveler's funds. A cross-border transfer can pass through correspondent or intermediary banks before reaching the beneficiary. That chain is why fees, compliance checks, routing information and exchange conversion can differ from a domestic bank transfer.
Correspondent banks can sit between sender and recipient
A sending bank may not have a direct relationship with the recipient bank, so one or more correspondent banks can route the payment between them. Each institution can add processing time or a permitted charge. For an important payment, ask the sending bank whether intermediaries are expected and how charges are handled.
OUR SHA and BEN fee choices affect who pays
SWIFT transfers can use charging instructions such as OUR, SHA and BEN. Broadly, OUR places transfer charges on the sender, SHA splits charges under the banks' rules, and BEN places them on the beneficiary. The practical result can still depend on intermediary deductions, so confirm the expected received amount when precision matters.
Intermediary deductions can reduce the received amount
An intermediary bank can deduct a fee before the funds reach the final account, leaving the recipient with less than the amount sent. That is particularly important for deposits, tuition or invoices that require an exact net payment. Ask whether the transfer can be sent with sender-paid charges or whether the recipient expects a buffer.
Exchange conversion may happen at several points
Currency conversion can occur at the sending bank, an intermediary or the recipient bank, depending on how the transfer is instructed. Each route can use a different exchange rate or markup. Where possible, specify the sending and receiving currency clearly and compare the all-in amount that will arrive.
IBAN and SWIFT-BIC details must be accurate
International bank details must be copied exactly. An incorrect IBAN, account number or BIC can delay the payment, trigger a return or send funds to the wrong destination if other checks fail. Verify the beneficiary details through a trusted channel before sending a large transfer.
Large transfers can trigger compliance checks
Large or unusual transfers can trigger anti-money-laundering and source-of-funds checks even when the transaction is legitimate. Banks may ask for contracts, invoices, bank statements or proof of sale. Build time for those checks into any property, tuition or medical-payment deadline.
Ask for the expected received amount where possible
For a payment that must arrive in an exact amount, the sender should ask what the beneficiary is expected to receive after bank charges and conversion. A transfer receipt showing only the amount debited does not prove the net amount at destination. Confirm receipt before treating the obligation as fully paid.
More travel planning
Search flights and browse more travel guides on SY.com.
Search flights