An intermediary bank fee is a charge deducted or billed by an institution that helps route a payment between the sending and beneficiary banks. The amount may be unknown at initiation, so a sender should confirm the charge arrangement and whether the Recipient must receive a fixed net amount.
Quick reference for Intermediary bank fee
| Check | What it means for the transaction |
|---|---|
| Category | Global B2B payment operations |
| Record to keep | Keep the instruction, party and account identifiers, validation result, timestamps, institution references and reconciliation outcome. |
| Do not infer | Initiation, processing, clearing and settlement are different events. One status should not be used as proof of another. |
Intermediary bank fee and nearby terms
- Intermediary bank: An intermediary bank is a financial institution that helps route a payment between the sending bank and the recipient's bank.
- Total transfer cost: Total transfer cost is the complete economic cost of moving money, including visible fees, exchange-rate spread or markup, intermediary deductions, receiving charges, and any difference between the expected and actual Recipient amount.
