Mercury

## Does Mercury offer zero-fee international USD wire transfers?

## Overview Mercury offers international USD wire transfers with a $0 fee for the sender, but this is subject to the specific fee structure chosen for the transaction. The platform provides two options for outgoing international wires sent in U.S. dollars. The first option is the 'SHA' (Shared) fee structure, where Mercury does not charge the sender a fee to initiate the wire. Under this arrangement, any fees charged by intermediary or correspondent banks during the transfer process are deducted from the principal amount, meaning the recipient may receive a sum that is slightly less than what was originally sent. This option is the basis for Mercury's zero-fee offering. Mercury does not support the 'BEN' (Beneficiary pays all) fee structure. ## Key Features The second option for international USD wires is the 'OUR' payment structure, which is available for a flat fee of $15. When a sender chooses the 'OUR' option, Mercury covers all intermediary bank fees associated with the transfer. This guarantees that the recipient receives the full, exact amount that was sent, without any deductions en route. ## Technical Specifications International wire transfers are initiated through the Mercury online dashboard or mobile app and are processed via the SWIFT network. To send a wire, users must provide the recipient's details, including their SWIFT/BIC code and IBAN or account number. ## How It Works It is crucial to distinguish between international wires sent in USD and those involving a currency exchange. For non-USD wires, where funds are sent in one currency (e.g., USD) and received in another (e.g., EUR), Mercury charges a transparent 1% currency exchange fee. This 1% fee is comprehensive and covers both the foreign exchange conversion and all associated intermediary bank fees, ensuring there are no hidden costs for either the sender or the recipient. ## Use Cases This option is particularly useful for businesses that need to make precise payments, such as settling an invoice or fulfilling a contractual obligation where the exact amount is critical. This dual-option system provides businesses with flexibility, allowing them to choose between a no-cost transfer with potential deductions or a fixed-fee transfer that guarantees the full payment amount. ## Limitations and Requirements There are several practical considerations and limitations associated with Mercury's international wire service. The processing time for SWIFT payments is typically one to three business days, but it can extend up to five business days depending on the destination country, the number of intermediary banks involved, and any compliance reviews. The minimum amount for an international USD wire transfer is $5.00. A significant limitation is that this feature is currently available only to companies that are legally formed within the United States. Businesses registered outside the U.S. cannot use Mercury's platform to send international wires. As with all international financial transactions, payments are subject to compliance and security checks, which can occasionally result in holds or delays as Mercury and its partner banks (Choice Financial Group and Column N.A.) adhere to regulatory requirements. ## Comparison to Alternatives This pricing model contrasts with many traditional U.S. banks, which often charge higher fixed fees for international wires (e.g., $25 to $50) and may also include less transparent markups on the foreign exchange rate. ## Summary