General
Charges and fees explained
A plain guide to every fee you might see — payment charges, correspondent deductions, FX margin and returns.
The kinds of fee
- Payment charge — your bank's fee for executing a payment, by rail. Faster Payments and SEPA are usually free or low; CHAPS, Fedwire and SWIFT carry a per-payment fee.
- Correspondent deduction — a fee an intermediary bank takes on a cross-border payment (under SHA or BEN). Visible on the gpi trace.
- FX margin — the spread between the mid-market rate and the rate you are quoted when converting currency. Booked into the rate, not billed separately.
- Return / recall fee — a charge that can apply when a payment is returned or you request a recall.
Where to see them
Payment charges and returns appear on your statement as separate entries with a bank transaction code. Correspondent deductions appear on the payment's gpi trace. FX margin is reflected in the booked rate versus the market mid. If a fee is not clear, open the transaction and the charge detail is shown alongside it.
Good to know
Your agreed tariff sets the rates you are charged. If a fee does not match your tariff, raise it in the Fees category (see "Dispute a charge") with the transaction reference and the desk will reconcile it.
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About this guide
- Topic
- Cut-off times & charges
- Reading time
- 3 min
- Views
- 2,881
- Found helpful
- 95% (134/141)
- Updated
- 16 Jun 2026
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