Today, I performed an international transaction to Nepal’s bank where I was charged with around NPR650 (for COR BNK CHG). I have never seen/heard receiver getting charged for an transfer as I already had paid the transfer charge from another bank. However, the transfer currency selected was USD and it was later converted to NPR at the rate \*132.45 by bank. Does bank charge for money conversion too(I don’t think they should because they are already providing money as their conversion rate which is lower than standard conversion rate)?? I am going to visit bank anyway but just wanted to know if anyone has faced it and have info about it.
https://preview.redd.it/upw7ofmqqp0c1.jpg?width=1016&format=pjpg&auto=webp&s=4e9d0d3aa2b5b532e17e0c4ae21e77f44358cf63
View on r/Nepal by Suspicious-Click5869
Is it 5%? If so, that could be tax.
Update: After doing some online research, I figured out that it is correspondent bank charges (COR BNK CHG) which is usually paid by the sender side and is included in charges(so that its not generally noticed during transactions) but some banks (Senders side) let the receiver pay it.