When sending international payments, you may encounter fees from intermediary banks that handle the SWIFT transfer on its way to your payee. These fees can vary depending on the transfer route and the amount being sent, see below for the common SWIFT fee options:
Shared Fees (SHA):
This is the only fee option we currently offer.
- You and the payee share the intermediary bank fees
- The payee may receive less than the amount you initially sent, as their share of the intermediary bank fees will be deducted from the amount being sent to the payee
- Zing fees are displayed in full in the app, so you know exactly how much you’re paying when you make the transfer
- Before making the payment, we will let you know that intermediary bank fees may apply. However, we are not able to confirm the amount of the fee
- If your payment is rejected, your money is refunded. You may pay intermediary bank fees for processing the refund (the latest exchange rate still applies), this is deducted from the amount being returned
Our Fees (OUR):
We do not currently offer this option.
- This is another fee model where you would cover all transfer fees upfront, including those charged by intermediary banks.
- The payee would receive the full amount you send.