I sent material to Australia under terms:Payment 100% in advance by telegraphic transfer.And All telegraphic transfer charges on buyers account.
I received $ 25 short payment.My client says he paid transfer charges to his bank .And the intermediary bank cut $ 25.
So,as per my terms is he not liable to pay the $ 25 deducted by the intermediary bank.
And if not who is liable to pay the amount.
Thanks and Regards
From what i know of T.T transfers, banks usually have a fee when you send money but they may have a fee which is duducted from the receiver (i.e. you). Not sure if this is the same case with your bank. You probably need to ask if your bank has a handling charge for receiving money into your account.
That is one of many ways banks make money. When you remit money, you need to pay them a T.T. fee. When you receive money, your bank and the intermediary bank takes a cut from the money sent to you. As far as I know, the cut is pretty much fixed and is not commensurate to the amount you are receiving. If your whole transaction is worth less than USD 500, I can understand your point about the USD 25 but if the amount concerned is at least USD 10,000 better not make a big fuss of USD 25. Just think of it as you treating your client to a modest lunch.
I sent material to Australia under terms:Payment 100% in advance by telegraphic transfer.And All telegraphic transfer charges on buyers account.
I received $ 25 short payment.My client says he paid transfer charges to his bank .And the intermediary bank cut $ 25.
So,as per my terms is he not liable to pay the $ 25 deducted by the intermediary bank.
And if not who is liable to pay the amount.
Thanks and Regards
we also have the same problems.
one of our customer have trasfering the payment to us . the bank have been deducted U$50 of each time. we have asking our customer.they told us that they also should be paying at charge U$50 when they trasfering payment to us.
I think that 100% customer are choosing they will paying the local bank charges at their side.
but outside the country of the bank charge will deducting at receiver's account.
there's why we are receiving less money on this.
It seems fair at this things. but it's not so fair when the amount are less .......
with good quality, competitive price,fast delivery of the goods.
I sent material to Australia under terms:Payment 100% in advance by telegraphic transfer.And All telegraphic transfer charges on buyers account.
I received $ 25 short payment.My client says he paid transfer charges to his bank .And the intermediary bank cut $ 25.
So,as per my terms is he not liable to pay the $ 25 deducted by the intermediary bank.
And if not who is liable to pay the amount.
Thanks and Regards
There are charges from both ends. The seller is charged as well as the buyer by each other's bank. That is the service fee every time a transaction is done. Each bank will charge their own client.
I sent material to Australia under terms:Payment 100% in advance by telegraphic transfer.And All telegraphic transfer charges on buyers account.
I received $ 25 short payment.My client says he paid transfer charges to his bank .And the intermediary bank cut $ 25.
So,as per my terms is he not liable to pay the $ 25 deducted by the intermediary bank.
And if not who is liable to pay the amount.
Thanks and Regards
There are charges from both ends. The seller is charged as well as the buyer by each other's bank. That is the service fee every time a transaction is done. Each bank will charge their own client.
i don't think so, our bank (Bank of China) tells us they do not charge when they receive the amount from others countries, less money is possibly charged by the inmediate bank.
I sent material to Australia under terms:Payment 100% in advance by telegraphic transfer.And All telegraphic transfer charges on buyers account.
I received $ 25 short payment.My client says he paid transfer charges to his bank .And the intermediary bank cut $ 25.
So,as per my terms is he not liable to pay the $ 25 deducted by the intermediary bank.
And if not who is liable to pay the amount.
Thanks and Regards
Your buyer is 100% correct. he has not done any thing wrong
It is standard international banking practise, when ever a shipper receive a payments from his buyer, a standard deduction of paymnet is done by shipper bank. the deduction may vary from bank to bank and country to country from USD 20 - USD 150 per transaction.
Yes that's correct, each bank charges their client fees, we deal with aus and s.a, at each end transfer fees are taken out, some countries is $80Us bank fee and that's a flat fee regardless of the amount transferred. It might be possible to negotiate with the bank for a lower fee but $20-25 is about the going rate.
It is verified by the client faxing a sending copy of the TT he made, it will show the amount he transferred, excluding his fee for the TT. If you didn't ask for this upfront, not really good to ask for it retrospectively, factor it in as a cost of doing business in the future.
Quoting from [KZAR]:
Sir,
I sent material to Australia under terms:Payment 100% in advance by telegraphic transfer.And All telegraphic transfer charges on buyers account.
I received $ 25 short payment.My client says he paid transfer charges to his bank .And the intermediary bank cut $ 25.
So,as per my terms is he not liable to pay the $ 25 deducted by the intermediary bank.
WHEN YOUR BUYER FILLS OUT THE TT APPLICATION FORM , THERE IS USUALLY A BOX WHICH SAYS "PAY IN FULL" OR "OVERSEAS BANK CHARGES ON ACCOUNT OF BENEFICIARY / REMITTER" .
TRY TO REMIND YOUR BUYER TO TICK (CHECK MARK) THE BOX "PAY IN FULL" OR LIKEWISE.
IN MY 15 YEARS AS AN EXPORTER I HAVE COME ACROSS VERY FEW BUYERS WHO ARE WILLING TO PAY THE OVERSEAS BANK CHARGES.
THESE CHARGES ARE BEST TREATED AS AN EXPENSE OR IF YOUR AMOUNT IS SMALL YOU CAN ADD IT TO YOUR PRICE .
HAPPY EXPORTING !
Quoting from [KZAR]:
Sir,
I sent material to Australia under terms:Payment 100% in advance by telegraphic transfer.And All telegraphic transfer charges on buyers account.
I received $ 25 short payment.My client says he paid transfer charges to his bank .And the intermediary bank cut $ 25.
So,as per my terms is he not liable to pay the $ 25 deducted by the intermediary bank.
