How much does it cost to make a foreign transfer GLOBAL TRANSFER?

The transfer times shown in the table above apply to transfers ordered before 13:30 which is the limit time for currency transfers. The times of currency transfers ordered after 13:30 extend the transfer time by one day. All times are given for business days. The above transfer times refer to the west and the Middle East. Transfers to Asia due to the time shift reach at least one day later than indicated in the table above. The EUR express transfer reaches the beneficiary within 15 minutes to 2 hours, depending on whether the beneficiary's bank participates in the quick EUR transfers system. Most banks in Europe participate in this system.

SHA and OUR

SHA (share) option - in this option the cost of the transfer is divided between the sender and the beneficiary of the transfer. The topFX user as the sender of the transfer bears the cost indicated in the table above. The transfer beneficiary (mainly for the USD currency) may receive a transfer reduced by bank transfer fees. There may also be fees for accepting the currency on the beneficiary's side, depending on the type of bank account.

OUR option - in this option all costs are carried by the sender of the transfer. The beneficiary of the transfer will receive a full amount sent - there are no costs of intermediary banks. There may only be charges for accepting the currency on the beneficiary's side, depending on the type of his bank account.

EUR transfers

EUR transfers in the SHA option addressed to the Single Euro Payments Area are made in the SEPA standard, which means that the intermediary banks will not collect any fees from the transferred amount and the beneficiary will receive the full amount of the transfer. However, the beneficiary may be charged for accepting a currency transfer to a bank account - this cost depends on the parameters of the bank account.

EUR transfers in the SHA option sent outside of the SEPA may be charged with the costs of intermediary banks. This cost can range from several to several dozen EUR. The beneficiary's bank may also charge a fee for accepting a currency transfer to a bank account.

USD, GBP, CHF, SEK, NOK, DKK, CAD, JPY and CZK transfers

USD, GBP, CHF, SEK, NOK, DKK, CAD, JPY and CZK transfers are made based on the SWIFT standard. These transfers in the SHA option addressed to Single Euro Payments Area countries may be charged with the costs of intermediary banks, although this is extremely rare and depends on the banks that will make the transfer. Intermediate fees, if they occur, are not high (several units of currency).

USD, GBP, CHF, SEK, NOK, DKK, CAD, JPY and CZK transfers in the SHA option sent outside the Single Euro Payments Area, ie USA, Asia, South America, are usually charged with the costs of intermediary banks. Intermediate fees range from a few to several dozen USD. The beneficiary of the transfer will receive the amount reduced by the costs of intermediary banks. The recipient of the transfer may be additionally charged by his bank for accepting the currency - depending on account's parameters.

Additional information

In general, we recommend transferring EUR to Single Euro Payments Area (SEPA) countries in the SHA option. This option is also recommended for USD, GBP, CHF, SEK, NOK, DKK, CAD, JPY and CZK sent within SEPA. The intermediary costs in the SEPA are extremely rare, and if they occur they are usually much lower than the cost difference between the OUR and SHA options.

Transferring currencies outside the Single Euro Payments Area, ie to the US, Asian countries and South America in each currency (EUR, USD, GBP, CHF, SEK, NOK, DKK, CAD, JPY or CZK) is recommended in the OUR cost option. Currency transfers outside the SEPA are usually charged with the costs of intermediary banks. These costs can range from several to several dozen USD.

It is very important that the transfer title is clear. If it is an invoice or order number, such information should be included. Placing only numbers in the title should be avoided to prevent the wire from being blocked by intermediary banks for explanations.