Venn only charges the upfront wire payment fee you see when initiating the transaction (typically between $6 to $10 CAD, depending on your plan). Any additional deductions are made by intermediary or receiving banks, not by Venn or our partner.
Traditional banks typically charge a higher upfront fee (often starting at $45 CAD or more) to preemptively cover any potential intermediary deductions. At Venn, we take a different approach by keeping your costs low and transparent. While intermediary fees are not common, they can occasionally apply and may vary, generally ranging up to $35 CAD, but they are usually still less than what traditional banks preemptively charge.
If you’re sending funds to the same recipient again, and a fee was previously deducted, it’s reasonable to expect a similar fee may apply. You can optionally increase your payment amount to ensure the recipient receives the full intended value. Rest assured, Venn remains committed to providing competitive, low-cost wire payment options with transparent pricing.
Why was less money received from my Wire (SWIFT) payment than I sent?
Written by Taylor Morgan