$60 wire payment fees?
 

I just got a monthly wire from a sponsor and noticed that the fee they took out was $60 to send me my money (additional $7 to receive) . Are banks really charging that much? :mad:

that is a high wire toll

If they are using an offshore bank with multiple correspondent banks it can cost that much. We had a Caribbean bank account where sending any wires cost $30 but when received on the other end an additional $50 was taken from the wire amount by someone in between.

I was paying $50 to send from South Africa to Bulgaria, the receiver had to pay about $8 too

Often the sender pays $30, then your bank charges another $30... so losing $60 in wire fees is not that uncommon...

Hmm... Maybe I'm just spoiled by the $15-30 wire fees from my sponsors and credit card processors.

Yeah you should check how much your bank takes for incoming wires

Sender charges $30 and bank charges $10 for my wires.

At the time the exchange rate was good my bank charged $AUD15 to send a wire, which was less than $USD7.50