Business Account Service Fees

* Multiple reversals may involve heavy penalties, depending on the damage.

What is the difference between the following charge types: BEN, SHA, and OUR?

BEN – all bank fees are paid by the beneficiary customer through a deduction from the amount of the transfer except for the KoenigPayments standard wire transfer withdrawal fee, which is paid by the ordering customer. KoenigPayments has no control over the amounts that foreign and intermediate banks may deduct. Senders should understand that the beneficiary pays these charges if a wire is sent with BEN charges.

SHA – all correspondent bank transfer fees are shared between the ordering customer and the beneficiary customer. The ordering customer pays the KoenigPayments standard wire transfer withdrawal fee. The majority of SWIFT wire transfers are sent with SHA charges.

OUR – all correspondent bank transfer fees are paid by the ordering customer, including any fees charged by any foreign bank. With OUR charges, the beneficiary receives the exact amount sent by the ordering customer, although the beneficiary's bank might still charge for receipt of the funds.