About payment charges
Payment charges define who is responsible for covering the fees associated with processing a payment. Fees can be paid by the sender, the beneficiary, or shared between both parties. Below are the commonly used payment charge options:
| Payment Charge Type | Description |
|---|---|
| OUR | All fees are covered by the sender. This ensures that the full amount is delivered to the beneficiary without any deductions. Selecting this option safeguards the beneficiary from receiving a reduced payment. |
| BEN | All fees are covered by the beneficiary. This means that fees will be deducted from the amount being transferred. As a result, the beneficiary will receive a lower amount than what was originally sent. |
| SHA | Fees are shared between the sender and the beneficiary. Some charges are paid by the sender upfront, and others are deducted from the transfer amount. Consequently, the beneficiary receives a partial payment after deductions. |