Bank Fees

Affiliate disclosure

Bank fees are the fees you or a beneficiary could pay to a bank as the result of transferring, exchanging, or otherwise paying for or receiving an international money transfer.

Bank fees, also known as "bank charges" or "processing fees", are just one type of fee you may be charged when transferring money, with other potential fees including exchange rate margins, fixed fees and commission fees.

What makes bank fees different from other fees associated with money transfers is that bank fees tend to be outside the control of your bank or currency exchange provider. As such, you'll only be charged a bank fee if it's necessary to complete the transfer.

When Are Bank Fees Charged?

Circumstances in which banks may be required to charge a bank fee in addition to other fees might include:

  • Wire transfers into or out of sender or beneficiary accounts;
  • Transfers that are sent via SWIFT or other banking protocols;
  • Beneficiary banks charging a fee to receive a transfer;
  • Intermediary banks charging fees to process money in transit.

Bank fees sometimes mean that either you or your beneficiary (or both) could lose more in fees than had been initially indicated due to circumstances beyond your bank's control.

If you'd like to understand what these extra fees are likely to be with your own bank, we'd advise you contact your bank directly, as the circumstances behind bank fees can vary significantly.

info icon

The Monito Glossary

When it comes to moving money, don't let yourself be bogged down by all the jargon. Explore The Monito Glossary to get up to speed with everything you need to know about money transfers.

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Learn More About Monito
  • Monito is trusted by 15+ million users across the globe.

  • Monito's experts spend hours researching and testing services so that you don't have to.

  • Our recommendations are always unbiased and independent.

Global Impact Finance Ltd
Avenue de Montchoisi 35
1006 Lausanne

Affiliate Disclosure
Instead of banner ads and paywalls, Monito makes money through affiliate links to the various payment service providers featured on our website. While we work hard to scout the market for the best deals, we're unable to consider every possible product available to you. Our extensive range of trusted affiliate partners enables us to make detailed, unbiased, and solution-driven recommendations for all types of consumer questions and problems. This allows us to match our users with the right providers to suit their needs and, in doing so, match our providers with new customers, creating a win-win for everybody involved. However, while some links on Monito may indeed earn us a commission, this fact never impacts the independence and integrity of our opinions, recommendations, and evaluations.