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Originally Posted by CashGordon
You are forgetting the US intermediary bank which is between source and destination bank for USD wire transfers. They get a piece from the wire as well.
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An intermediary bank is only needed for USD transfers from banks outside US, not from banks in US.
And even if a bank is outside US an intermediary bank is not needed, maybe you jumped the gun and didn't read all of the OP...
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wire transfer costs can be reduced by sending the amount in the receivers own currency
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This can be done from any bank anywhere in the world to any bank anywhere in the world very easily online. All you need is a name, account number and IBAN or SWIFT (BIC).
If your bank can't do this you need a new bank thats not stuck in the 90's.
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Originally Posted by BJ
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Why did you only paste part of the sentence?
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If the remitter wishes to pay all charges, Nordea charges DKK 100 for payments up to DKK 100,000 or equivalent.
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The fee is 15DKK to an EU bank and 40DKK to any other bank anywhere in the world.
Thats 2.5USD and 6.8USD
And even if the sender pays all charges, his bank and the receiving banks charges is only 17USD