Intermediate Banks - Can't leave with them, Can't leave without them?


This week I’ve made an international transfer (SWIFT) to a EUR account in a country outside EU. To my surprise, the amount received was exactly 15 EUR less.
Revolut says they don’t charge a fee for outgoing payments. The receiving bank says they don’t charge a fee for incoming payments. So, the only party remaining is the Intermediate Bank, but I could’t find much information any further.

Now that I’ve lost 15 EUR, I wonder how can I avoid it in future? There is still no transparancy with the Intermediate Banks, so we still have no guarantee that the money transfers will be free.

I have mixed feelings about using Revolut for future SWIFT transfers…:thinking:
Does anybody have a similar experience?


In no world would SWIFT transfers be free, they’re very expensive in terms of intermediary bank charges.

The cheapest fee I’ve ever had for SWIFT is $25 so, I’d be extremely happy with 15 euro.

Revolut has no power to monitor or affect the charges made by banks and it shouldn’t be expected to. Fair warning is given and also a general outline of usual charges is provided in multiple currencies.

35 AUD
20 CAD
50 AED
16-32 EUR (outside of SEPA)
7500 JPY
35 NZD
20-40 USD


Did you make this transfer in a currency that is different than the one in your recipient bank?

I always thought intermediary bank is only if the bank cannot process itself the transfer because of unsupported currency.

My banks (1 sepa and 1 none sepa) never charge me intermediary fee both for inbound and outbound transfers as long as I do it in the right currency.


No, international transfers like SWIFT often use intermediary banks.

Technically, even a SEPA transfer uses a couple of intermediary banks for the actual settlement. They just can’t charge you for it.


No, both the sending and receiving bank accounts were in EUR.
I’m thinking that such fees depend on the amount sent: charge certain percentage above certain amounts.


Could be a percentage. Could be a fixed handling fee. Hard to tell.


Well, what bothers me is that I can’t see what that handling fee structure is that the intermediary bank is using.


I know. And you should write intermediary banks. Can be more than one. It depends on business relations and infrastructure of the banks involved. It is worse than you thought. :confused: