on 24-02-2019 11:49 AM
Hi @bbanwait, thanks for your question.
In some cases it may be necessary for the banks involved to utilise the services of a 'correspondent' bank to assist in the transfer of funds internationally. As banks do not hold offices in every country, it is necessary to establish reciprocal agreements with a representative bank that may assist in getting the funds transferred successfully to their destination.
If a correspondent bank is needed for assistance in the transfer, they are entitled to charge a fee for their services.
Other bank charges and fees are unknown to us and therefore not accounted for in the fees quoted when initiating a transfer. This could mean that you may receive a lesser amount in your account than what the sender had originally sent. Other bank fees and agent fees are unknown to us, and therefore out of our control.
If you'd like some more information on International Money Transfers, you can click here.
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