I’ve been researching this topic for a few weeks now. Unfortunately, there is not a single bank that does not charge a commission for money transfer or conversion.
Not actually true in the slightest.
SWIFT has different ways of making payments, it just depends on what your bank supports. You’re more than able to (SWIFT supports this) make an ‘up-front’ payment; banks between then would be unable to levy extra fees and the original amount transferred would reach Revolut.
The annoying thing is, Revolut doesn’t support sending these. Only receiving them.
Different payment system regulated in a different way. SEPA must be treated as local transfers by any other SEPA IBAN.
Wise is as close as you will get to free for conversion and transfer as they work on local schemes and keep profit to build up a currency pool.
As for money transfer, if you mean like Western Union physical wires of cash, yeah of course not lol
If you mean no commission for bank-bank transfers, its simply not true for local transfers at least. Very unlikely for SWIFT as multiple banks are involved in the process.
No, sorry, your explanation about BEN, SHA, OUR is not contradictory to what I wrote. But that’s fine.
Who bills you depends on the method of sending it, which is contradictory. Probably doesn’t make a difference to most though, I cede
With OUR, no intermediary bank fees are applied. And the sender pays the fees his bank might charge for SWIFT transfers. Revolut doesn’t offer this, like you stated. If they would, they would charge extra for it.
When intermediary bank fees occur, they are deducted from the money in transit. With SHA, the sender pays the fees from his bank, the recipient pays intermediary bank fees.
With BEN, the recipient pays intermediary bank fees + additional fees of the sender’s bank.
(Since I was referring to intermediary bank fees only and in direct response to the question if you can determine them beforehand, my statement only applies to cases where they occur, hence no contradiction.)