general wire transfer question
 

hi, i just returend from my bank asking a question about wire transfers and they looked at my with a face like 'i dunno'

so here goes:

i live in belgium, and i am expecting a wire transfer from company X
how much shall i have to pay to receive the wire transfer?

i look at the site of my bank and it says:
1/OR all costs are for the sender
2/OR all costs for the receiver
3/OR split costs

But i pay company X 50$ for the international wire, so is those 50$ to cover nr 2 or nr 3
or is it still possible i will have to pay all costs
(the bank coudnt tell me what they were going to be: thay said: you will see how much is left after deduction of the costs (!) VERY helpfull lol :) )

thanx for your help!

The guy who sends the wire can choose what expenses he wants to pay.
When I send out wires I always pay all expenses, but I think I just may be too nice.

The sender's bank charges the sender (usually $35). Then, your bank could charge you a comission (some %) for processing the incoming transfer and depositing the money in your account.

ok thanx for the help people!

$50 is alot for a standard wire transfer, but if they say 50 then it must be per transfer and it should cover all costs. Maybe a fee is set, in my bank its usually about $5 no matter how much and where it came from.

Transfers within EU countries does not cost that much, usually around 15-20. Even cheaper if banks with international departments are used.

..and the sender can choose to pay ALL costs.

No matter what the sender chooses. You will get probably get fucked both ways. You will have to pay like $30 for the transfer from the USA and about 30 euro for receiving it in Belgium.

This is a shame but not much we can do. That is why I still go for cheques or epassporte

You'll likely get stuck with a fee. If the money is coming from a sponsor I doubt the sender tacked on extra dollars for your fees at your end. The sponsor probably has the thinking that this is how you chose to receive payment therefore the expenses on your end are yours. $50.00 is high though but there may also be a currency conversion fee as well too. Oh, and if your bank has no idea what there fees are you might want to find a new bank. :)

Even as I pay CCBill a wiretransfer fee I am charged a incoming fee also :Oh crap

Yup, since you want them to wire they are making you pay their banks fees and then your bank is charging you to receive it. Banks make money every which way they can.