There are three main types of SWIFT payment fees arrangements, and you can select which option you would prefer when you make a SWIFT payment.
Fees paid by sender (OUR)With this selection, the sender pays all charges, including those of the recipient's bank and any intermediary banks involved in the transaction. This means the full amount of the payment will be credited to the recipient's account and the charges will be deducted from the sender’s account separately. AMINA charges a standard fee for this which can be found in our Corporate or Individual Pricing schedule. Selecting this option means you will know exactly how much you’re going to pay and will ensure the full amount will reach the recipient.
Fees paid by recipient (BEN)
Under this arrangement, the recipient pays all charges. The sender's full payment amount is reduced by the fees of the sender's bank, any intermediary banks, and the recipient's bank. It’s important to note, this means that the recipient will receive a lower amount than the original payment.
Split fees (SHA)
This arrangement is the most common option. It means the charges are shared between the sender and recipient. The sender pays the charges of their own bank, while the recipient pays the charges of their own bank and any intermediary bank fees. The recipient receives the full payment amount minus any intermediary and recipient bank fees.