If you are in a situation when your making hundreads of transcations each year and sending/receiving money via a bank the charges inevitably stack up. Our bank generally charges USD20 every time we make a T.T transcation and more so for each LC.


TIPS

What you can do is to take this cost into account these costs whenever you make a deal. Coming from a seller point of view i would encourage people to talk about the money transfer charges for any contracts that they draw up with the buyer. You will probably save a lot of hassle in the long run. Much like you negotiate who pays for sample shipping, consider the cost of bank charges when drawing up contracts. For example, tell them that your bank will charge x/y/z amounts to wire the money and agree on who should pay for these fees.

Right , this should be put into consideration.I think when you receive the money , you can guarantee to get your money without any charges by receiving through WU or money gram but alot of people don't prefer them.