What is the SWIFT processing fee?
Capitec charges a fee for sending funds via the SWIFT network. There are two fee types which allow you to choose whether the fees are charged on the sender and/or receiver side:
- OUR – The fee is paid on the sender side of the transaction (i.e. all in ZAR).
- SHA/BEN – The fee is “shared” between the sender and receiver side (i.e. in ZAR and foreign currency). As a result, your recipient receives less foreign currency than sent.
We recommend OUR, as it is more predictable and typically lower cost overall.
| Send | Receive | |
|---|---|---|
| OUR | R500 | R250 |
| SHA/BEN | R250 + Foreign Currency* | R350 |
*SHA/BEN fees are shared with your recipient. As a result, your recipient receives less foreign currency than sent.