OUR, BEN and SHA are the three SWIFT charge options that decide who pays the intermediary and receiving-bank fees on an international transfer. Under OUR, the sender pays all charges and the beneficiary receives the full amount. Under BEN, the beneficiary pays, so the fees are taken out of the money in transit. Under SHA, the charges are shared.
The option you choose is the difference between a beneficiary receiving exactly what you sent and a payment arriving short. On a routine payment that rarely matters. On a property completion, a supplier invoice or any transfer where an exact figure is expected, a small deduction en route can hold up the whole transaction.
What do OUR, BEN and SHA mean on an international transfer?
On a SWIFT payment, the charge option is carried in a field of the payment message (field 71A, “Details of Charges”). It tells every bank in the chain who is responsible for their fees. There are three codes, and each one shares the cost differently.
OUR means the sender bears every charge, including the fees of any intermediary (correspondent) bank and the beneficiary’s own bank. The beneficiary is credited the full amount you instructed. Your provider may bill the correspondent charges back to you separately, sometimes after the payment has settled.
SHA (shared) means you pay your own provider’s outgoing charge, and the beneficiary pays everything on the receiving side — including any correspondent-bank deductions taken from the money as it passes through the network. This is the default on most cross-border payments.
BEN means the beneficiary bears all charges. Every fee is taken out of the transfer amount, so the recipient receives the least of the three options. It is the least common choice for large or exact payments.
| Charge option | Who pays the fees | What the beneficiary receives | Typically used for |
|---|---|---|---|
| OUR | Sender pays all charges, including correspondent and receiving-bank fees | The full instructed amount | Property completions, supplier invoices, any payment that must arrive in full |
| SHA | Each side pays its own provider; correspondent fees fall to the beneficiary | The amount sent, less any deductions taken in transit | Everyday cross-border payments where a small shortfall does not matter |
| BEN | Beneficiary pays all charges | The least — every fee is deducted from the amount | Rare for large transfers; sometimes used for low-value payments |
Why does less money sometimes arrive than you sent?
A cross-border SWIFT payment often does not travel directly from your bank to the beneficiary’s bank. It passes through one or more intermediary (correspondent) banks that hold the relationship between the two institutions and the currency involved.
Under SHA or BEN, each correspondent bank can take a handling charge from the payment as it passes through. Those deductions are not always visible before the payment leaves, and they are the usual reason a beneficiary reports receiving less than the figure you sent. The shortfall is separate from the exchange-rate margin built into the conversion and from your own provider’s transfer fee. If you want the full picture of the three cost layers on a transfer, see our guide to what you actually pay when sending money abroad, and how a SWIFT transfer works from end to end.
Modern payment tracking has improved transparency. Under SWIFT gpi, banks attach a unique reference to each payment and can report the charges deducted and the amount credited along the way. It does not remove correspondent fees, but it makes them easier to see and trace.
Which charge option means the beneficiary receives the full amount?
OUR is the option that credits the beneficiary the full instructed amount, because the sender agrees to cover the correspondent and receiving-bank charges rather than letting them be deducted in transit. Where an exact figure has to land — a completion balance, a deposit tied to a contract, an invoice paid to the penny — OUR is the option that protects it.
Worked example: a €50,000 completion balance
Suppose you need to pay a notary exactly €50,000 to complete a purchase. At an illustrative rate of 1.17, that costs about £42,735 to buy.
Sent under SHA, the payment routes through two correspondent banks, each deducting an illustrative €20. The notary’s account is credited €49,960 — €40 short of the required €50,000. The shortfall is flagged as an underpayment, and completion cannot proceed until you send a top-up, which takes more time and another fee.
Sent under OUR, your provider covers the correspondent charges, the notary receives the full €50,000, and the transaction clears on the figure the contract requires. The numbers here are illustrative — the point is the mechanism: on an exact-figure payment, the charge option decides whether the money arrives complete.
Can you always choose OUR, BEN or SHA?
No. For payments within the UK, the Payment Services Regulations 2017 require each party to pay only their own provider’s charges — the shared (SHA) model — so OUR and BEN are not offered on a domestic payment. The same principle applies to payments in EEA currencies involving providers in the European Economic Area under Article 62 of the revised Payment Services Directive. The Financial Conduct Authority sets out how these charging rules apply to UK payment firms in its payment services guidance.
The charge-bearer choice therefore matters most on cross-border SWIFT payments to a bank abroad, where correspondent banks sit in the chain. That is exactly the situation for an overseas property purchase, a foreign supplier payment or a transfer to a family member in another country. For euro payments inside the SEPA zone, the picture is different again — our guide to SEPA or SWIFT explains when each network applies, and how BIC, SWIFT and IBAN codes route a payment.
How a specialist currency broker handles charges on a large transfer
A specialist currency broker sets up the payment so the beneficiary receives the amount that was agreed. For many currencies and destinations, that means using local payment rails or the right charge instruction so the recipient is not left chasing a shortfall — the settlement certainty that matters when a completion date or a contract sum is fixed.
At Cambridge Currencies, every transfer is arranged by phone with a dedicated specialist, who confirms the beneficiary details, the charge treatment and the value date before the payment is sent. Client funds are safeguarded by FCA-authorised payment partners Currencycloud and ScioPay. You can read more about how client funds are safeguarded, and how a currency broker compares with a bank for a transfer of this size.
Common mistakes when choosing a SWIFT charge option
- Assuming SHA means “no extra fees.” SHA simply moves the correspondent charges to the beneficiary — they are still taken, just from the money in transit.
- Sending an exact contract sum under SHA or BEN. If a notary or supplier expects a precise figure, a deduction en route creates an underpayment that stalls the transaction.
- Confusing the charge deduction with the exchange-rate margin. They are separate costs. Checking the live mid-market rate shows the margin; the charge option governs the correspondent fees.
- Not re-confirming beneficiary details. A wrong IBAN or a last-minute change of account is a far bigger risk than a charge — always verify the beneficiary before you pay.
- Panicking when a payment looks short or slow. A missing amount or a delay is often a correspondent deduction or a compliance check rather than a lost payment — here is what to do when a transfer is delayed or on hold.
Frequently asked questions
What is the difference between OUR and SHA?
Under OUR, the sender pays all charges and the beneficiary receives the full amount. Under SHA, the sender pays only their own provider’s charge and the beneficiary bears any correspondent and receiving-bank fees, which are deducted from the amount in transit. OUR protects the exact figure; SHA can leave the recipient short.
Which charge option should I use for an overseas property purchase?
Where a completion balance must arrive as an exact figure, OUR is the option that credits the full amount, because the sender covers the correspondent charges instead of letting them be deducted. A specialist can confirm the right treatment for the country and currency before the payment is sent. See our currency guide to buying a property in Spain for how completion payments are structured.
Why did my beneficiary receive less than I sent?
The most common reason is a correspondent-bank deduction taken in transit under a SHA or BEN instruction. Each intermediary bank in the chain can take a handling charge from the payment. A separate cost is the exchange-rate margin applied at conversion, which is set before the money leaves.
Is SHA always the default?
SHA is the required model for payments within the UK and for many payments in EEA currencies involving EEA providers, so OUR and BEN are not offered there. On cross-border SWIFT payments to a bank abroad, the charge option is usually a choice.
Do currency brokers use OUR, BEN or SHA?
A specialist broker sets the charge treatment appropriate to the destination and, for many currencies, delivers the funds over local payment networks so the beneficiary receives the agreed amount. The aim is settlement certainty — the recipient is credited what was contracted, and you know the sterling cost in advance from the live GBP/EUR rate.
Does the charge option affect how long a transfer takes?
Not directly. Timing depends more on the route, the currencies, cut-off times and any compliance checks than on the charge code. An OUR payment can, however, avoid the extra delay of arranging a top-up when a SHA payment lands short of a required figure.
Sending a large sum where the exact amount has to arrive? Speak to a Cambridge Currencies specialist about the right charge treatment for your transfer — request a live quote and arrange the payment by phone with a dedicated specialist. Every transfer is completed over the phone, with the beneficiary details and charges confirmed before a penny moves.
