Foreign Exchange Rates (FX Rates) are important in international banking, and the terms OUR, BEN, and SHA are synonymous with international business transactions. 

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What exactly do these acronyms mean? What are the OUR, BEN, and SHA charges? 

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Let us dive in! 

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OUR, BEN, & SHA Charges

• OUR (We pay): If you choose OUR, you pay all fees for sending money internationally. This includes exchange rate fees and any charges from middle banks.
• BEN (You pay): With BEN, the person receiving the money pays all fees. This includes exchange rate fees and charges from middle banks, which means they get less money in the end.
• SHA (Shared): SHA splits costs. Both the sender and receiver pay their own bank fees. Exchange rate fees and middle bank charges are divided between them.

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#1 Foreign Exchange Rates

Here we can explain with an example:- 

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OUR (We pay):

• You send $1,000 internationally using OUR.
• Exchange rate fee: 2% ($20).
• Intermediary bank fee: $15.
• Total deducted from your account: $1,035 ($1,000 + $20 + $15).

BEN (You pay):

• Someone sends you $1,000 internationally using BEN.
• Exchange rate fee: 2% ($20).
• Intermediary bank fee: $15.
• You receive $965 ($1,000 - $20 - $15).

SHA (Shared):

• You send $1,000 internationally using SHA.
• Your bank fee: $10.
• Recipient's bank fee: $5.
• Exchange rate fee (shared): 1% ($10).
• Intermediary bank fee (shared): $10.
• Total deducted from your account: $1,035 ($1,000 + $10 + $10).
• Recipient receives: $985 ($1,000 - $10 - $10).

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#2 Process Differences in OUR, BEN & SHA charges

#3 Hidden Costs for business outward remittance 

#4 OUR, BEN & SHA charges for different Payment Methods