{"id":26119,"date":"2026-02-26T13:24:29","date_gmt":"2026-02-26T07:54:29","guid":{"rendered":"https:\/\/blog.razorpay.in\/blog\/?p=26119"},"modified":"2026-04-14T15:19:45","modified_gmt":"2026-04-14T09:49:45","slug":"telex-swift-charges-guide","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/telex-swift-charges-guide\/","title":{"rendered":"What are Telex-SWIFT Charges? A Guide to Transfer Fees"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Banks still print &#8220;telex charges&#8221; on statements, confusing businesses that expect modern terminology for their international payments. These charges represent the cumulative fees for sending money through the global SWIFT network, though the actual telex machines disappeared decades ago. The real challenge lies in predicting total costs when intermediary banks deduct hidden fees en route.<\/span><\/p>\n<p>Businesses sending telex payment, telegraphic transfer, and telex copy instructions face unpredictable deductions ranging from \u20b9500 to \u20b915,000 per transaction. Multiple banks touch each payment, each potentially claiming its share. This guide demystifies these fee structures, helping you calculate true transfer costs before initiating payments.<\/p>\n<div style=\"border-left: 4px solid #0073aa; background: #f0f8ff; padding: 15px; margin: 20px 0; border-radius: 5px;\">\n<h2 style=\"color: #0073aa; font-size: 18px; margin: 0 0 8px 0; display: inline-block;\">Key takeaways<\/h2>\n<ul style=\"display: inline-block; margin: 0 0 0 10px; padding-left: 18px; vertical-align: top;\">\n<li><strong>Telex Transfer:<\/strong> &#8220;Telex Transfer&#8221; is simply outdated terminology for modern <a href=\"https:\/\/razorpay.com\/learn\/what-is-swift\/\">SWIFT<\/a> network payments, which are the secure messaging instructions used to move funds globally.<\/li>\n<li><strong>Total Cost:<\/strong> The total cost of a transfer is rarely just the upfront fee; it typically includes hidden intermediary deductions (\u20b9500-\u20b93,000) and exchange rate markups (1-3.5%).<\/li>\n<li><strong>Fee Code Choice:<\/strong> Selecting the correct fee code\u2014OUR (Sender pays), SHA (Shared), or BEN (Beneficiary pays)\u2014is critical for ensuring vendors receive the exact invoice amount.<\/li>\n<li><strong>Modern Alternative:<\/strong> Modern fintech solutions like Razorpay can often bypass the expensive SWIFT network entirely using local rails, offering transparent pricing and automated compliance tools.<\/li>\n<\/ul>\n<\/div>\n<h2><b>What is the Relationship Between Telex and SWIFT?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">&#8220;Telex Transfer&#8221; persists as banking terminology despite the technology becoming obsolete when SWIFT launched in the 1970s. Banks replaced physical telex machines with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, enabling secure digital messaging between financial institutions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today&#8217;s <\/span><b>telegraphic transfer<\/b><span style=\"font-weight: 400;\"> uses SWIFT&#8217;s encrypted messaging infrastructure to send payment instructions globally. While the underlying technology changed completely, bank contracts and fee schedules retain the legacy &#8220;telex&#8221; terminology.<\/span><\/p>\n<p><b>Key terminology differences:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Telex<\/b><span style=\"font-weight: 400;\">: The original electromechanical system using telegraph lines (defunct)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>SWIFT<\/b><span style=\"font-weight: 400;\">: Current secure messaging network processing 150+ million messages daily<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Telegraphic Transfer (TT)<\/b><span style=\"font-weight: 400;\">: The service name banks use for wire transfers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>MT103<\/b><span style=\"font-weight: 400;\">: The actual SWIFT message format containing payment details<\/span><\/li>\n<\/ul>\n<h2><b>What are the Different Types of Telex-SWIFT Charges?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Understanding SWIFT&#8217;s four-layer fee structure prevents payment surprises. Each international wire transfer attracts multiple charges beyond your bank&#8217;s quoted outward remittance fee.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Fee Type<\/b><\/td>\n<td><b>Typical Cost (INR)<\/b><\/td>\n<td><b>Typical Cost (USD)<\/b><\/td>\n<td><b>Who Charges<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Sending Bank Fee<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b9500-\u20b915,000[2]<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$10-$50<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Your AD bank<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">SWIFT Message Fee<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b9200-\u20b91,000[3]<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$5-$15<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Sending bank<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Intermediary Fees<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b9500-\u20b93,000[3]<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$10-$50<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Correspondent banks<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Recipient Bank Fee<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Variable<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$0-$30<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Beneficiary&#8217;s bank<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><b>How Does Sending Bank Fees Work?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Indian Authorised Dealer (AD) banks charge outward remittance commissions ranging from \u20b9500 for small transfers to \u20b915,000 for larger corporate payments. These fees cover processing, compliance checks, and SWIFT message transmission.<\/span><\/p>\n<p><b>Typical sending bank charges:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">HDFC Bank: \u20b9500-\u20b91,000 plus GST for retail transfers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Central Bank of India: 0.10% (min \u20b9500, max \u20b915,000) plus SWIFT charges<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Corporate accounts: Negotiated rates, often percentage-based<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Additional GST: 18% on all commission portions<\/span><\/li>\n<\/ul>\n<h3><b>Why Do Intermediary Bank Fees Occur?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Banks lacking direct relationships route payments through correspondent banks, creating a chain where each intermediary deducts fees. A payment from India to a small US bank might pass through 2-3 intermediaries, each claiming \u20b9500-\u20b93,000.<\/span><\/p>\n<p><b>Common intermediary scenarios:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Major corridor (India-US via large banks): 1 intermediary typical<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Exotic routes (India-Africa): Up to 3 intermediaries possible<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Each intermediary: Deducts $10-$50 unless sender chooses OUR option<\/span><\/li>\n<\/ul>\n<h3><b>What are Recipient Bank Charges?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Beneficiary banks may charge inward remittance fees, particularly in countries with complex banking regulations. These charges vary significantly by institution and country, making vendor communication essential.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">US banks typically charge $0-$15 for incoming wires, while European banks might charge \u20ac10-\u20ac30. Indian banks receiving foreign currency often charge \u20b9200-\u20b91,000 for processing and conversion.<\/span><\/p>\n<h3><b>How do Exchange Rate Markups Impact the Total Cost?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Banks apply forex spreads ranging from 1% to 3.5% above mid-market rates. On a $10,000 transfer at \u20b983 per dollar, a 2% markup costs \u20b916,600 extra, often exceeding all other fees combined.<\/span><\/p>\n<div style=\"border-left: 4px solid #0073aa; background: #f0f8ff; padding: 15px; margin: 20px 0; border-radius: 5px;\">\n<h2 style=\"color: #0073aa; font-size: 18px; margin: 0;\">Did You Know?<\/h2>\n<p style=\"margin-top: 10px;\"><i><span style=\"font-weight: 400;\">Banks&#8217; forex markups often represent 60-70% of total transfer costs, yet they&#8217;re rarely disclosed transparently in fee schedules.<\/span><\/i><\/p>\n<\/div>\n<h2><b>How Do OUR, SHA, and BEN Codes affect Transfer Costs?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Fee allocation codes determine who bears the <\/span><b>telegraphic transfer<\/b><span style=\"font-weight: 400;\"> charges throughout the payment journey. Selecting the wrong code causes vendor short-payments and reconciliation headaches.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Fee Code<\/b><\/td>\n<td><b>Sender Pays<\/b><\/td>\n<td><b>Recipient Receives<\/b><\/td>\n<td><b>Best Use Case<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">OUR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">All fees<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Full invoice amount<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Vendor payments<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">SHA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Only sending fees<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Amount minus intermediary fees<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Internal transfers<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">BEN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Initial amount only<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Amount minus all fees<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Recipient-agreed<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><b>When Should You Use the OUR Code?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Use OUR for exact invoice settlements where vendors must receive specific amounts. This ensures your $5,000 invoice payment arrives as exactly $5,000, with you bearing all intermediary charges upfront.<\/span><\/p>\n<p style=\"text-align: center;\"><a style=\"background-color: #1a73e8; color: #ffffff; font-weight: 800; padding: 7px 15px; border-radius: 7px; font-size: 16px; text-decoration: none; display: inline-block; white-space: nowrap;\" href=\"https:\/\/razorpay.com\/international-payment-gateway-india\/?utm_source=blog&amp;utm_medium=referral&amp;utm_campaign=internationalpayments\">Explore Razorpay&#8217;s Global Payment Solutions<\/a><\/p>\n<h3><b>What are the Implications of the SHA Code?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">SHA remains the default for most transfers, splitting costs between sender and recipient. While economical, it often leads to short-payments when intermediary banks deduct unexpected fees from the principal amount.<\/span><\/p>\n<h3><b>When is the BEN Code Appropriate?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Select BEN when recipients explicitly agree to bear all charges, such as investment redemptions or certain refund scenarios. The recipient receives the original amount minus all accumulated fees.<\/span><\/p>\n<h2><b>What Factors Determine the Total Cost of Telegraphic Transfers?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Beyond fee codes, multiple variables influence your total <\/span><b>telex payment, telegraphic transfer, telex copy<\/b><span style=\"font-weight: 400;\"> costs. Understanding these factors helps optimise payment strategies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cost-determining factors include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Currency Corridor Complexity<\/b><span style=\"font-weight: 400;\">: USD\/EUR routes cost less than exotic currency pairs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Transfer Urgency<\/b><span style=\"font-weight: 400;\">: Express processing adds \u20b9500-\u20b92,000 to standard fees.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Banking Relationship Tier<\/b><span style=\"font-weight: 400;\">: Premium accounts have access to reduced fees and better forex rates.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Compliance Requirements<\/b><span style=\"font-weight: 400;\">: Enhanced due diligence triggers additional processing charges.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Transfer Amount<\/b><span style=\"font-weight: 400;\">: Higher values attract percentage-based fees versus flat rates.<\/span><\/li>\n<\/ul>\n<h2><b>When Should You Request a Telex Copy of Your Payment?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">A telex copy provides the MT103 SWIFT message proving your payment instructions reached the banking network. This document becomes crucial when vendors claim non-receipt or when tracking delayed payments through correspondent banks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Banks generate MT103 documents containing unique transaction references (UETR), sender\/receiver bank codes (BIC), value dates, and fee details. Request this through your relationship manager or online banking portal, typically for \u20b9200-\u20b9500[3].<\/span><\/p>\n<p><b>Essential MT103 fields to verify:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">UETR reference: Unique tracking number for SWIFT investigations<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Field 71A: Fee code (OUR\/SHA\/BEN) confirmation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Field 32A: Value date and currency amount<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Field 52-59: Intermediary bank routing details<\/span><\/li>\n<\/ul>\n<div style=\"border-left: 4px solid #0073aa; background: #f0f8ff; padding: 15px; margin: 20px 0; border-radius: 5px;\">\n<p style=\"color: #0073aa; font-size: 18px; margin: 0;\"><strong><span style=\"color: #0073aa;\"><span style=\"font-size: 18px;\">Pro Tip: <\/span><\/span><\/strong><span style=\"color: rgba(0,0,0,0.74); font-size: 19px; font-weight: 400;\">Always request MT103 copies for payments above \u20b95,00,000. Screenshot the document immediately as some banks remove access after 30 days.<\/span><\/p>\n<\/div>\n<h2><b>How Can Businesses Minimise International Transfer Costs?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Reducing transfer costs requires strategic planning beyond simply comparing bank fees. Smart businesses combine multiple optimisation techniques to save 30-50% on international payments.<\/span><\/p>\n<h3><b>What are the Advantages of Negotiating Bank Spreads?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Banks maintain significant flexibility on forex markups for corporate clients. Benchmarking your bank&#8217;s offered rate against xe.com or Reuters before confirming transfers reveals potential savings. Volume commitments unlock preferential rates.<\/span><\/p>\n<p><b>Negotiation Strategies:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Request rate cards showing tiered forex pricing by volume<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Compare live mid-market rates before accepting bank quotes<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consider forward contracts to lock favourable rates for 3-6 months<\/span><\/li>\n<\/ul>\n<h3><b>How Does Razorpay International Payments Make the Process Easier?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Razorpay International Payments eliminates traditional SWIFT complexity through transparent pricing and automated compliance. The platform provides real-time exchange rates without hidden markups, while handling FIRC generation automatically.<\/span><\/p>\n<p><b>Key benefits:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Local payment rails bypass SWIFT fees for supported corridors<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Digital FIRC generation replaces manual bank follow-ups<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Dashboard visibility eliminates the need for telex copy requests<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Zero forex markup policy saves 2-3% versus bank rates<\/span><\/li>\n<\/ul>\n<h2><b>How Razorpay Simplifies International Collections &amp; Reduces SWIFT Costs<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Razorpay&#8217;s MoneySaver Export Account uses local payment rails like <a href=\"https:\/\/razorpay.com\/blog\/business-banking\/ach-transfers\/\">ACH<\/a> (US) and <a href=\"https:\/\/razorpay.com\/blog\/sepa-payments-explained\/\">SEPA<\/a> (Europe) to bypass expensive SWIFT networks. This eliminates recipient bank charges and intermediary deductions that typically reduce earnings by \u20b91,000-\u20b95,000 per transaction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Instead of chasing banks for telex copies or physical <a href=\"https:\/\/razorpay.com\/blog\/firc-certificate\/\">FIRC<\/a> documents, Razorpay provides automated digital FIRC generation for every incoming payment. This ensures RBI compliance while saving 3-5 days of documentation delays.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unlike traditional banks hiding costs in exchange rate markups, Razorpay offers transparent pricing. Businesses typically save 50% on transaction costs compared to standard bank wire transfers through eliminated intermediary fees and transparent forex rates.<\/span><\/p>\n<div style=\"background: #f5faff; border-radius: 14px; padding: 30px; text-align: center; margin: 42px 0; box-shadow: 0 8px 20px rgba(26,115,232,0.08);\">\n<h2 style=\"color: #1a73e8; font-size: 24px; font-weight: bold; margin-bottom: 12px;\"><strong>Simplify International Collections with Razorpay<\/strong><\/h2>\n<p style=\"color: #444; font-size: 16px; max-width: 720px; margin: 0 auto 18px; line-height: 1.6;\"><strong>Get paid via ACH\/SEPA, avoid SWIFT deductions, and receive instant<br \/>\ndigital FIRC for faster, compliant export receipts.<\/strong><\/p>\n<p><a style=\"display: inline-block; background: #1a73e8; color: #ffffff; padding: 14px 26px; font-size: 16px; font-weight: bold; border-radius: 10px; text-decoration: none;\" href=\"https:\/\/razorpay.com\/accept-international-payments\/bank-transfers\/?utm_source=blog&amp;amp;utm_medium=referral&amp;amp;utm_campaign=internationalpayments%22%3E%3Cem%3E%3Cstrong%3ERazorpay%E2%80%99s&quot;\">Explore Razorpay\u2019s MoneySaver Export Account<\/a><span style=\"font-size: 19px; background-color: #ffffff;\">\u00a0<\/span><\/p>\n<\/div>\n<h2><b>Conclusion<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Regular audits of bank statements reveal hidden intermediary deductions affecting your bottom line. Modern platforms like<\/span><a href=\"https:\/\/razorpay.com\/blog\/telex-swift-charges-guide\"> <span style=\"font-weight: 400;\">Razorpay<\/span><\/a><span style=\"font-weight: 400;\"> provide transparency and automation that traditional telex payment, telegraphic transfer, and telex copy methods lack, reducing both costs and compliance burden for Indian exporters.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Digital payment gateways offer real-time tracking, automated reconciliation, and detailed reporting dashboards that empower finance teams to identify discrepancies quickly. Exporters benefit from faster settlement cycles, reduced manual intervention, and improved compliance with RBI guidelines.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By leveraging technology-driven solutions, businesses can minimise operational risks, enhance cash flow predictability, and strengthen trust with overseas partners. Ultimately, shifting from legacy telex systems to modern fintech platforms ensures efficiency, cost savings, and long-term sustainability in global trade operations.<\/span><\/p>\n<h2><b>FAQs<\/b><\/h2>\n<h3><b>Q1. What is the difference between a Telex transfer and a SWIFT transfer?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">&#8220;Telex transfer&#8221; is a legacy term often still used in banking contracts to refer to what is now a digital SWIFT transfer. While the terminology persists, the actual technology has been replaced by the secure SWIFT messaging network.<\/span><\/p>\n<h3><b>Q2. Who is responsible for paying intermediary bank fees?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Responsibility depends on the instruction code used: &#8216;OUR&#8217; charges the sender, &#8216;BEN&#8217; charges the recipient, and &#8216;SHA&#8217; splits the costs, meaning intermediary fees are often deducted from the final amount received.<\/span><\/p>\n<h3><b>Q3. How much does a telegraphic transfer typically cost?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Total costs vary by bank but generally include a sending fee (\u20b9500\u2013\u20b915,000), intermediary fees (\u20b9500\u2013\u20b93,000 per bank), and a hidden exchange rate markup that can range from 1% to 3.5%.<\/span><\/p>\n<h3><b>Q4. What is a telex copy, and why do I need it?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">A telex copy (often an MT103 document) is the official proof that payment instructions were sent. It is essential for tracking missing funds or proving to a vendor that a payment has been initiated.<\/span><\/p>\n<h3><b>Q5. Is it possible to avoid SWIFT charges on international transfers?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Yes, using modern fintech platforms like Razorpay often allows you to bypass the traditional SWIFT network by utilising local payment rails (like ACH or SEPA), significantly lowering or eliminating intermediary fees.<\/span><\/p>\n<h3><b>Q6. Which fee code should I use for vendor payments?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The &#8216;OUR&#8217; code is generally recommended for vendor payments because the sender covers all fees, ensuring the vendor receives the exact invoice amount without deductions.<\/span><br \/>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What is the difference between a Telex transfer and a SWIFT transfer?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Telex transfer is a legacy banking term that now refers to a digital SWIFT transfer. 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It is essential for tracking delayed or missing funds and for proving to a vendor that a payment has been initiated.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Is it possible to avoid SWIFT charges on international transfers?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Yes, modern fintech platforms can bypass the traditional SWIFT network by using local payment rails such as ACH or SEPA. This significantly reduces or eliminates intermediary banking fees.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Which fee code should I use for vendor payments?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"The OUR fee code is generally recommended for vendor payments because the sender covers all charges, ensuring the vendor receives the full invoice amount without deductions.\"\n      }\n    }\n  ]\n}\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banks still print &#8220;telex charges&#8221; on statements, confusing businesses that expect modern terminology for their international payments. These charges represent the cumulative fees for sending money through the global SWIFT network, though the actual telex machines disappeared decades ago. The real challenge lies in predicting total costs when intermediary banks deduct hidden fees en route.<\/p>\n","protected":false},"author":103,"featured_media":26661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1067],"tags":[],"class_list":{"0":"post-26119","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cross-border"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/26119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=26119"}],"version-history":[{"count":3,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/26119\/revisions"}],"predecessor-version":[{"id":26122,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/26119\/revisions\/26122"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/26661"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=26119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=26119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=26119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}