Brex | How do I guarantee my outgoing wire transfer’s principal amount?
Open an account

How do I guarantee my outgoing wire transfer’s principal amount?

International Wire Fees

When you send an international wire, intermediary banks facilitate the transaction between Brex and the beneficiary's bank These intermediaries allow you to send money to banks in small territories or local banks that may not have a direct connection to our partner banks.

Sometimes these intermediary banks or the beneficiary’s bank take a fee as the wire passes through them. They frequently take their fees directly out of the wire payment, unless specifically instructed otherwise.

Note: Brex does not charge any fees for your wire payments.

Fee Protection

Through JP Morgan, Brex offers select customers the option to purchase protection against intermediary bank fees for international wires. If an intermediary must be used, that bank will charge the fee to JP Morgan so the wire amount is unaffected.

Note: While this protection works in most scenarios, it can’t guarantee 100% protection against fees because certain beneficiary banks may not honor JP Morgan’s instructions and still take their fee out of the wire itself. If this happens, the beneficiary will need to work with their bank to resolve the issue, as it is outside of Brex’s control.

Protection Costs

JP Morgan charges $20 per wire for this optional fee protection service. We offer this service directly to you for $20 without any markup.

In some cases, the vendor you are paying may have already accounted for possible fees when determining the amount that you should pay them. In other cases, the intermediary or beneficiary bank may take a fee of less than $20. Neither Brex nor JP Morgan knows in advance how much the intermediary or beneficiary bank fee might be, or if a fee will be taken out at all.

To opt in to this protection service when sending an international wire, select the box next to Cover non-Brex bank fees to ensure the recipient receives the full amount.

You will have this choice each time you send a wire.


Was this article helpful?

|

Still can't find what you're looking for?

Chat with us->
Open an account

How do I guarantee my outgoing wire transfer’s principal amount?

International Wire Fees

When you send an international wire, intermediary banks facilitate the transaction between Brex and the beneficiary's bank These intermediaries allow you to send money to banks in small territories or local banks that may not have a direct connection to our partner banks.

Sometimes these intermediary banks or the beneficiary’s bank take a fee as the wire passes through them. They frequently take their fees directly out of the wire payment, unless specifically instructed otherwise.

Note: Brex does not charge any fees for your wire payments.

Fee Protection

Through JP Morgan, Brex offers select customers the option to purchase protection against intermediary bank fees for international wires. If an intermediary must be used, that bank will charge the fee to JP Morgan so the wire amount is unaffected.

Note: While this protection works in most scenarios, it can’t guarantee 100% protection against fees because certain beneficiary banks may not honor JP Morgan’s instructions and still take their fee out of the wire itself. If this happens, the beneficiary will need to work with their bank to resolve the issue, as it is outside of Brex’s control.

Protection Costs

JP Morgan charges $20 per wire for this optional fee protection service. We offer this service directly to you for $20 without any markup.

In some cases, the vendor you are paying may have already accounted for possible fees when determining the amount that you should pay them. In other cases, the intermediary or beneficiary bank may take a fee of less than $20. Neither Brex nor JP Morgan knows in advance how much the intermediary or beneficiary bank fee might be, or if a fee will be taken out at all.

To opt in to this protection service when sending an international wire, select the box next to Cover non-Brex bank fees to ensure the recipient receives the full amount.

You will have this choice each time you send a wire.


Was this article helpful?

|

Still can't find what you're looking for?

Chat with us->
Open an account

How do I guarantee my outgoing wire transfer’s principal amount?

International Wire Fees

When you send an international wire, intermediary banks facilitate the transaction between Brex and the beneficiary's bank These intermediaries allow you to send money to banks in small territories or local banks that may not have a direct connection to our partner banks.

Sometimes these intermediary banks or the beneficiary’s bank take a fee as the wire passes through them. They frequently take their fees directly out of the wire payment, unless specifically instructed otherwise.

Note: Brex does not charge any fees for your wire payments.

Fee Protection

Through JP Morgan, Brex offers select customers the option to purchase protection against intermediary bank fees for international wires. If an intermediary must be used, that bank will charge the fee to JP Morgan so the wire amount is unaffected.

Note: While this protection works in most scenarios, it can’t guarantee 100% protection against fees because certain beneficiary banks may not honor JP Morgan’s instructions and still take their fee out of the wire itself. If this happens, the beneficiary will need to work with their bank to resolve the issue, as it is outside of Brex’s control.

Protection Costs

JP Morgan charges $20 per wire for this optional fee protection service. We offer this service directly to you for $20 without any markup.

In some cases, the vendor you are paying may have already accounted for possible fees when determining the amount that you should pay them. In other cases, the intermediary or beneficiary bank may take a fee of less than $20. Neither Brex nor JP Morgan knows in advance how much the intermediary or beneficiary bank fee might be, or if a fee will be taken out at all.

To opt in to this protection service when sending an international wire, select the box next to Cover non-Brex bank fees to ensure the recipient receives the full amount.

You will have this choice each time you send a wire.


Was this article helpful?

|

Still can't find what you're looking for?

Chat with us->