International wire fees explained: OUR, SHA and BEN
OUR means the sender pays every fee, SHA means each side pays its own bank while intermediaries deduct theirs, and BEN means the payee pays everything. To be paid in full, ask for OUR on SWIFT payments, or give payers local account details.
By Pavel Skalin, Founder & CEO, Align · Reviewed by the Align compliance team
Updated · 6 min read
The short answer
The charge code tells every bank in the chain who pays for an international wire. With OUR, the sender pays all the fees. With SHA, each side pays its own bank and intermediaries deduct theirs from the payment. With BEN, the payee pays everything. To receive an invoice in full, ask for OUR on SWIFT payments, or give payers local account details so the payment travels on a domestic rail instead of through correspondent banks.
What each code means
The code sits in field 71A of an MT103 and in the ChargeBearer element of an ISO 20022 message, which uses different names for the same choices.
| OUR | SHA | BEN | |
|---|---|---|---|
| ISO 20022 code | DEBT | SHAR | CRED |
| Sender's bank fee | Sender | Sender | Payee |
| Intermediary fees | Sender | Payee, deducted from the payment | Payee, deducted from the payment |
| Receiving bank fee | Sender | Payee | Payee |
| What the payee receives | The full amount, in principle | The amount less intermediary and receiving fees | The amount less all fees |
KBC's definition of OUR is that you pay all charges, both your bank's and the payee's bank's. A fourth ISO 20022 code, SLEV (service level), means the payment scheme's own rules apply. It's the only value allowed for SEPA credit transfers.
Why payments arrive short
Intermediary deductions. Under SHA or BEN, each correspondent bank can take its fee from the amount. Wise estimates these at 15 to 50 USD or equivalent. Lloyds tells business customers that if they don't choose to pay the charges, correspondent banks may deduct them from the payment.
OUR isn't always honored. KBC says it "cannot guarantee" that OUR is preserved through the chain, and that US dollar payments usually switch to SHA on the US leg. Flywire says some banks deduct fees "even if you select a specific fee option."
The receiving bank's own fee. As of its November 2024 schedule, Bank of America charges business customers $15 to receive an international wire. HSBC Bank plc's February 2025 price list charges £6 for incoming payments of £100 or more in other currencies. As of October 2026, Wise Business charges 6.11 USD to receive a USD wire on its UK pricing.
Conversion. If a payment arrives in a currency the account doesn't hold, the receiving bank converts it. Bank of America converts incoming foreign currency wires to dollars at a rate "determined solely by us."
The rules inside the EEA and the UK
Shared charges. The EU's Payment Services Directive (PSD2), which has EEA relevance, makes sharing the norm where both providers are in the EU: each side pays the charges of its own provider (recital 65 and Article 62(2)). That is SHA. Under Article 2(3), this also covers payments in other currencies when both providers are in the EU, for the part carried out in the EU.
The full amount. PSD2 says the full amount the payer sends should be credited to the payee, and intermediaries may not deduct from it. The payee's provider may deduct its own fee if the payee agreed, and must then show the full amount and the fee separately (recital 80 and Article 81). Article 2(3) leaves this rule out for currencies other than those of EU countries, so a US dollar payment between two EU banks can still arrive short.
Payments to or from outside the EU. When only one provider is in the EU, Article 2(4) excludes both rules.
Bank tariffs reflect this. HSBC Bank plc's February 2025 business price list says SEPA payments "must use the SHA charging code."
United Kingdom. Regulation 66(2) of the Payment Services Regulations 2017 sets the same rule where both providers are in the UK: each side pays its own provider's charges.
Published fees: examples
| Provider | Fee | As of |
|---|---|---|
| Chase, Performance Business Checking | $40 to send an international USD wire online; incoming wires free | October 2026 |
| Bank of America, business accounts | $45 to send an international USD wire; no wire fee for foreign currency wires, which carry an exchange rate markup; $15 to receive an international wire | Effective 15 November 2024 |
| HSBC Bank plc, UK business accounts | £17 to send an international payment online; £6 to receive one of £100 or more in another currency | February 2025 |
| Airwallex, US | $15 per SWIFT transfer with SHA; $25 with OUR | Updated 19 October 2026 |
| Wise Business, UK pricing | 6.11 USD to receive a USD wire; 2.39 EUR to receive a euro SWIFT payment | October 2026 |
| Commonwealth Bank of Australia | Optional upfront fee to cover overseas bank fees on same-currency transfers from a foreign currency account: A$37 for USD, A$33 for EUR, A$17 for GBP | From 23 July 2026 |
The Airwallex and CommBank entries show what OUR costs in practice: a higher fee up front, in place of deductions the payee would otherwise absorb.
How to word invoices so you receive the full amount
- State the currency and amount due, and that bank charges are for the payer's account.
- Ask for OUR on SWIFT payments. A line such as "Bank charges: OUR. The full invoice amount must be received" tells the payer's finance team which option to choose.
- Offer local details where you have them. A US payer can send ACH or a domestic wire to a US account number and routing number, and a UK payer can use Faster Payments to a sort code and account number. Within the EEA, an IBAN lets euro payers use SEPA.
- Say SEPA, not OUR, to euro payers in the EEA. Their bank applies shared charges to SEPA payments anyway.
- If the payer can't use OUR, Flywire suggests choosing SHA and adding about 30 USD to cover deductions.
- Put the invoice number in the reference, so a short payment can still be matched.
- Agree charges in the contract. State who bears bank fees, and how a shortfall is settled.
For the receiving side of US payments, see how to get paid by US customers without a US entity.
How this works with Align
Align provides named accounts in your company's name: USD over ACH, Fedwire and SWIFT, EUR over SEPA and SEPA Instant, and GBP over Faster Payments. Customers in those currencies can pay you through the local rail. ACH and wire access isn't switched on automatically: you request it, and Align's US banking partner runs a second review after Align's KYB and can decline or set limits. Your balance is held in USDC or USDT and converted when you pay a supplier. Align's pricing is quoted on request: contact us.
Sources
- European Union, Directive (EU) 2015/2366 (PSD2), recitals 65 and 80, Articles 2, 62 and 81 (published December 2015, accessed October 2026)
- UK legislation, Payment Services Regulations 2017, regulation 66 (accessed October 2026)
- Modern Treasury, Setting the charge bearer for a SWIFT wire (accessed October 2026)
- XMLdation for Nordea, ChargeBearer (accessed October 2026)
- KBC, Costs of international transfers (accessed October 2026)
- Flywire, Swift charge options (accessed October 2026)
- Wise, What are Swift correspondent fees? and business receive pricing (October 2026)
- Lloyds Bank, Payment transaction brochure (March 2026)
- HSBC Bank plc, Business price list (February 2025)
- Chase, Performance Business Checking fees (October 2026)
- Bank of America, Business schedule of fees (effective 15 November 2024)
- Airwallex, US fee schedule (updated 19 October 2026)
- Commonwealth Bank of Australia, International money transfer fee changes (July 2026)
Common questions
- Which charge code should I use to pay an invoice in full?
- OUR, if your bank offers it for that payment. You pay your bank's fee and the intermediary fees, though some banks, such as KBC, say they can't guarantee the full amount arrives. For euro payments within the EEA, use SEPA: shared charges apply, and EU rules say intermediaries may not deduct fees from the amount.
- Why did I receive less than the invoice amount?
- Usually because the payer used SHA or BEN, and an intermediary bank or your own bank took its fee from the payment. Wise estimates intermediary deductions at 15 to 50 USD. The payment confirmation shows the charge code, and your bank can tell you which deductions were made.
- When does BEN make sense?
- Only when the payee has agreed to bear every fee. Under BEN the payee pays all charges, including the sender's bank fee, so the amount received is less than the amount sent.
- Do OUR, SHA and BEN apply to ACH or SEPA payments?
- Not in the same way. SEPA credit transfers carry the code SLEV, meaning the scheme's rules apply, and PSD2 says the full amount should reach the payee. ACH payments don't carry a charge code; each bank's fees are agreed with its own customer.
This guide is general information, not legal, tax or financial advice. Rules and providers' terms change; check the sources linked above and take advice on your own situation.
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