Whenever a payer transfers the money abroad, he or she is able to set who will pay the transfer charges. There are three different payment instructions, which are used while making an international wire transfer.
BEN – the beneficiary will be charged with all payment fees. It means, that the beneficiary will not received the transferred amount in full, because the bank will substract the transfer charges from it.
SHA – both payer and beneficiary will be charged with the transfer fees. The payer will be charged by his local bank, while the beneficiary will pay the correspondent bank’s fee. The intermediary (correspondent) bank is required, if there is no direct connection between the payer’s bank and the beneficiary’s bank.
OUR – payer pays all charges.
If You are outside EU, and You would like to pay for subscription to Merkandi via international wire transfer, please remember to set the OUR instruction in order to have Your account activated.