Receiving Bank Fee Schedule


#1

Hi

From my Swiss bank account, I’ve sent two test deposits to my US Bitwage Account,

  1. USD 50 on 10/26
  2. USD 200 on 12/03

Both deposits were done in exactly the same manner, i.e. with SHA payment instructions, which resulted in 2 x $3 additional fees at my end. For deposit 1) USD 50 were credited to my account. For deposit 2) USD 191 were credited to my account, so the receiving bank charged an additional fee of USD 9.

Why is there a fee for deposit 2 but not for 1? What is the fee schedule for international deposits?

Thanks!


#2

Hi Andreas,

The fee difference is a feature of your own bank or a correspondent bank in between your bank and the US bank that you sent to. We fulfill exactly the amount that is received to our bank in your name.

Your bank may apply less fees to your transfer if you apply for a bitwage EU bank account rather than a US if you are sending from CH. Also we are not an exchange so we do not facilitate any payment other than wage payments from employer or payroll provider to employee/contractor.

If you wish to see the transaction description we received it is visible in the Worker Payrolls Section if you click on the timestamp of the relevant payroll order to get to the Individual Payroll Details view.

John