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Wire fees calculation is essentially done by the banks and in some manner also regulated by the Financial Regulator.

In its basic form, there is the fees charged by the transaction network (e.g. SWIFT) to the banks. The banks are then free to add their operational margins on top of these charges and present the same to the customer.

In some markets, as directed by the financial regulator, there is a cap on how much fees can be charged.

With the recent changes in the US, for example the Dodd-Frank Act, Section 1072 mandates that for cross-border wire-transfers (or remittances) the customer is informed of the full charges that he/she would be paying and what the beneficiary would be receiving (including any foreign exchange conversion). In short, no hidden charges can be setup, as well as dubious or non-committal FX conversion rates.

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Q: How are wire transfer fees calculated?
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