What a SWIFT transfer actually costs your business
A SWIFT transfer is charged three times: flat wire and lifting fees of $25 to $50 per payment, correspondent bank deductions taken in transit, and an FX markup of roughly 3.5% at a typical bank, hidden in the rate. On a business-sized wire the markup is by far the largest charge, and it never appears as a line item.
The three charges, itemized
| Charge | Typical range | Who takes it |
|---|---|---|
| Wire + lifting fees | $25 to $50 per payment | Your bank on send, the beneficiary's on arrival |
| Correspondent deductions | taken in transit | Each bank the wire hops through |
| FX markup | ~3.5% at a typical bank | Hidden in the exchange rate |
You wire $10,000 to a supplier. Wire and lifting fees take up to $50 between your bank and theirs. The rate carries a typical 3.5% markup, which is $350 you never see itemized. The invoice cost you $10,400, and the visible fee line said $50 at most.
Why the wire arrives short
Correspondent deductions come out of the principal in transit. Unless the sender pays “OUR” charges upfront, the beneficiary receives the invoice amount minus every hop. That is why a $10,000 invoice lands as $9,960 and your reconciliation never balances to the cent.
The alternative is not a cheaper wire. It is no wire.
A USD account in your name means clients pay domestically. One fee, on the quote: 0.49% plus fixed.
See USD accounts