1. FAQ
  2. USD Account
  3. Pay Internationally

Why did my recipient receive less than the amount I have sent?

How can you ensure that your recipient receive the exact amount?

For SWIFT transfers, intermediary fees will be charged. The sender has the option to choose the SWIFT Fee type for their transfer:

  • SHA - Sender and recipient will split the intermediary fee
  • OUR - Sender will bear the entire intermediary fee


Fortunately, Aspire offers the OUR SWIFT fee type option. If you're sending a SWIFT transfer from your USD account and want to shoulder the intermediary fees, you can select the toggle: "Pay USD(amount) extra and fix this amount". Without this toggle, the default SWIFT transfer will be a SHA SWIFT transfer.

 

However, under certain rare cases, the recipient may still not receive the full payment amount, in spite of you selecting the toggle. 

In these cases, when the payments enter the US clearing system, certain payment data are being removed (including the payment charging type information relating to OUR) as they are not fully optimized to receive SWIFT payments.

As a result, the transfer is being reverted to the default SWIFT fee type, SHA, and the correspondent bank passing the payment through to the beneficiary bank can potentially deduct intermediary fee from the payment amount itself.

Please note that this payment scenario is out of Aspire as well as our partner's (The Currency Cloud Limited) control and can happen to any bank or financial institution.

Questions? Email us at support@aspireapp.com or chat with us during business hours (Mon - Fri, 9.30 AM - 6:30 PM SGT)