SWIFT fees and correspondent banks: OUR, SHA, BEN, delays and how to trace a transfer to or from Türkiye

A SWIFT transfer rarely goes straight from one bank to another. It may pass through one or more correspondent banks, each able to deduct a fee or ask a question. This guide explains the charge codes, the usual reasons for a short amount or a delay, and how to ask your bank for a trace, as of 6 November 2026. It is descriptive only and quotes no bank tariffs.

OUR, SHA and BEN: who pays the fees

Every SWIFT payment carries a charge instruction (field 71A of the MT103 message). OUR means the sender pays all fees, so the beneficiary should receive the full amount. SHA (shared) means the sender pays its own bank and the beneficiary bears the receiving side. BEN means the beneficiary bears all charges.

In practice an intermediary can still claim its fee separately, and banks describe this differently. Read your bank’s published fee information form for foreign-currency transfers rather than relying on a general rule.

The code you choose is only an instruction. The sending bank decides how the payment is routed, and a beneficiary may still see a deduction. If the exact net amount matters, for example for an invoice, agree the charge code with the other side before sending.

Why less money arrived

A shortfall usually has an ordinary explanation. Compare three numbers: the amount you instructed, the amount on the MT103, and the amount credited. The gap normally falls into one of the groups below. SWIFT describes gpi tracking as showing the amount sent, the amount confirmed and any deduction made along the chain.

• Deduction by an intermediary bank (common with SHA and BEN)
• Incoming-transfer fee of the beneficiary’s bank
• Currency conversion at the receiving bank’s own rate
• An OUR fee billed after the payment, or a different amount instructed

Ask the sending bank for a copy of the MT103 with the charge code and any charge fields, and ask the receiving bank for the credit advice. Matching these two documents usually shows where the difference arose.

A conversion can happen at either end. If the payment is in a currency other than the account’s, ask which bank converted it and at what rate, because a different rate can look like a hidden fee when it is not.

Why a transfer stalls

A transfer is “stuck” when one bank in the chain stops it for a check or cannot process it. The causes below are the most common, and none of them means the money is lost. Each bank applies its own compliance rules, and no one outside the bank can speed them up.

• Compliance screening or a request for documents about purpose
• Wrong or incomplete details: IBAN, name, BIC, address
• A correspondent that does not handle the currency or route
• Cut-off times and public holidays in the currency’s country

According to press reports in December 2022, the Central Bank asked Turkish banks to report the payment category of outgoing transfers and to hold supporting documents. That is one reason a Turkish bank may ask for a contract or invoice, even for a routine payment.

Tracing: MT103, UETR and gpi

The UETR is the unique end-to-end reference that follows a payment through the chain. The gpi Tracker shows whether a payment was debited, passed on, credited, pending or rejected; SWIFT states statuses are updated within about 30 minutes of an event. Customers normally cannot open the tracker themselves: the bank does it.

1. Ask the sending bank for the MT103 copy and the UETR.
2. Ask whether its channel supports gpi and for the current status.
3. If the payment reached the beneficiary’s bank, send that bank the UETR and ask for the credit date.
4. If it sits at an intermediary, ask your bank to open an investigation and note the reference.

Banks answer investigations on their own timelines, so keep every reference and date in one note.

Documents when the bank asks questions

When a bank queries a payment, quick and consistent paperwork matters more than volume. Names, amounts and dates should match on every page. If a spelling differs between passport, invoice and instruction, add a short explanatory note rather than leaving the bank to guess.

• Copy of the payment instruction or receipt (dekont)
• MT103 copy and UETR
• Contract, invoice or proforma stating the purpose
• Company registry extract and signatory identity
• Beneficiary details exactly as in the bank’s system

Foreign-language documents may need a translation, and some banks ask for an apostille. Requirements differ by bank, so ask for the list in writing. The bank alone decides whether to release or return a payment.

Answer in one message where possible. A reply that attaches every requested item and states the payment reference is easier for a compliance officer to process than several partial emails sent over days.

Sources

• swift.com — SWIFT gpi for Corporates: UETR, gpi Tracker statuses and fee transparency
• tcmb.gov.tr — Central Bank of the Republic of Türkiye: payment systems, fee communiqués for banks, foreign exchange reporting
• tbb.org.tr — Banks Association of Türkiye: banking customer information
• garantibbva.com.tr — example of a bank’s published fee information form for foreign-currency transfers (every bank publishes its own; figures not reproduced here)
• mevzuat.gov.tr — legislation database: Law No. 6493 on payment services and Law No. 5549 on prevention of laundering of crime revenues

Questions