What do code words SHA/OUR/BEN mean when choosing a fee type?

If you are making an external transfer, you have to choose a fee type. It means that you have to decide on how you want any transaction fees to be managed. Here is the explanation of the different methods. Select one of the option when making your transfer.

 BEN (BENeficiary)

  • The Payee (recipient of the transfer) will incur all of the payment transaction fees.
  • The recipient will receive the payment minus the transfer charges.
  • You, as a Payer (sender of the transfer), will not pay any transaction fees.

OUR

  • The Payer (sender of the transfer) will bear all of the transaction fees.
  • The beneficiary will receive the full amount of the payment.

SHA (SHAred)

  • The Payer (sender of the transfer) will pay all fees charged by EWUB.
  • The Payee (recipient of the transfer) will pay all fees charged by a correspondent / intermediary bank or receiving bank (if any).
  • The recipient will receive the payment amount minus any correspondent /intermediary fees.

You will be able to see the amount of transaction fees paid by you before your confirm the transaction.