This article answers some of the most frequently asked questions (FAQ) about global payments in Payhawk.
Does the 0.3% FX margin on the average rate also apply to currencies outside the top 10?
No. Payhawk's FX rates start at 0.3% markup for the top 10 most traded currencies. For currencies outside the top 10, the FX markup can range up to 0.95%, depending on the specific currency.
Is the transfer fee always EUR 1 for payments via ACH and other local network?
Transfer fees vary depending on the destination currency and payment rails used. The fee for payments via ACH or local networks is not fixed at EUR 1 for all destinations. Fees for SWIFT transfers depend on the specific SWIFT mode selected (SHA or OUR). It's best to review the pricing details in the Payhawk Web Portal under your specific currency and destination.
Which SWIFT mode is applied by default (SHA, OUR)? Can the type of instruction be chosen?
Yes, you can choose the SWIFT mode when submitting vendor bank details:
SWIFT SHA (Shared): Fees are split between the sender and recipient.
SWIFT OUR (Sender pays all fees): The sender covers all associated fees, including those from intermediary and recipient banks.
Are there any additional charges when making global payments with Payhawk, for example, from intermediary banks in certain destinations or networks?
Yes, intermediary bank fees may apply and vary based on the country and destination. Payhawk cannot predict or guarantee these fees as they depend on the specific banks involved in the transaction route.
If you want to ensure the beneficiary receives the exact amount without deductions, it's advisable to choose the SWIFT OUR payment method, where the sender covers all fees.
Are there differences in costs or conditions depending on the country or currency of destination?
Yes, fees and conditions vary depending on the destination currency and payment rails used, for example, SWIFT, ACH, or local networks. Specific pricing details are available in the Payhawk Web Portal based on your selected destination.