How do the transaction fees work for outgoing payments?
When it comes to outgoing payments, you have two options for managing transaction fees:
1. Shared Charges: By selecting this option, you will cover the transaction fees charged by Statrys and DBS Bank. This includes all charges from our side, excluding the fees imposed by intermediary banks and the beneficiary's bank. The amount that reaches your recipient's account will be the funds transferred minus the transfer fees from intermediary banks and the remitter’s bank.
2. Pay for all Charges: If you choose to pay for all charges, this option covers not only the fees charged by Statrys and DBS Bank but also includes the fees imposed by intermediary banks and the beneficiary's bank. The funds that will reach your beneficiary's account will be the exact same amount that was sent from your Statrys account.
By selecting the appropriate fee payment option, you can determine whether you prefer to cover only Statrys charges or if you want to include intermediary and beneficiary bank charges as well. It's important to consider these options and decide based on your specific preferences and requirements for each outgoing payment.