Intermediary bank fees are typically flat fees, not based on the amount sent. So whether you’re sending $1,000 or $100,000, the intermediary charges are usually the same. These fees are set by the banks involved in routing your payment through the SWIFT network and can vary depending on the path your payment takes.
At Venn, we keep things transparent and cost-effective:
With Venn: You pay a low, flat fee of $6 to $10, depending on your plan (Essentials, Plus, or Pro), plus any intermediary bank fees. These additional fees aren’t always known upfront, as they depend on how the recipient’s bank is connected to SWIFT.
With traditional banks: You might pay $50 or more for a single wire. That fee often includes a buffer to cover intermediary charges, which can be around $20, allowing the bank to retain the remainder.
💡 Tip: Whenever possible, we recommend using local payment methods (EFT, ACH, Fedwire, UK Faster Payments, SEPA) to avoid these unpredictable fees. And when SWIFT is the only option, Venn keeps your costs as low and fair as possible.