Why is the amount received via SWIFT different than the amount sent?

Answer

In ZEN, the fees associated with making a SWIFT SHA transfer, are shared between the payer and the beneficiary of the transfer. The costs that you, as the payer, incur are fees e.g. for transaction mode and execution. In addition, intermediary banks may deduct fees from the amount the recipient ultimately receives. ZEN does not influence the fees charged by intermediary banks for SWIFT transfers.

To ensure that the recipient of a SWIFT transfer receives exactly the amount sent by the sender, the sender should select the SWIFT OUR transfer type. He then undertakes to cover all transfer fees - including those charged by the recipient's bank or intermediary banks.

You can find the current table of fees and commissions applicable to ZEN here.

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