In the majority of cases, your beneficiary will receive the exact amount you have sent to him from your Qonto account. However, in very rare cases of SWIFT transfers, the amount received may differ from the amount sent.
In fact, SWIFT transfers are sent to your beneficiary via our partner in SHA mode ("shared costs" - the market standard). The receiving bank or/and intermediary bank(s) may choose to charge a transfer fee. These will then be either:
Charged separately, to the beneficiary's account
Imputed directly on the amount of the transfer
For example, if I send $1,000 to the United States, and the receiving bank or/and intermediary bank(s) charges a $15 international transfer fee, then the transfer recipient:
Can be charged $15 of reception fees, or
May receive only $985 of the $1,000 sent
This second case is again quite rare, but possible in some less common banks. In these cases, it is sometimes wise to inquire about these fees from your supplier, before making your SWIFT transfer.
👉 Good to know: All transfers that go through the USA, even if it is only an intermediary bank, have a fee of 20$.