What do SHA, OUR and BEN mean?
SHA, OUR and BEN are the charge codes on an international wire that decide who pays the banks' fees: with OUR the sender pays all charges, with SHA (shared) the sender pays its own bank and the beneficiary bears the rest, and with BEN the beneficiary pays everything. They decide whether the invoice amount arrives in full. Example (invented, for illustration only): a US importer pays a $20,000 invoice with OUR, pays its bank's OUR fee, and the supplier receives $20,000; sent with SHA, an intermediary deducts $25 on the way and the supplier receives $19,975 before its own bank's fee.
- With OUR the sender pays all charges, with SHA the sender pays its own bank and the beneficiary pays the rest, and with BEN the beneficiary pays all charges.
- In Ohmyfin's October 2026 sample, 68 of 72 US dollar payments sent with SHA arrived short, against 7 of 151 sent with OUR.
- PSD2 Article 62(2) requires each party to pay its own provider's charges for payments within the EU, so UK and EEA banks offer only shared charges there.
- In ISO 20022 messages OUR is DEBT, SHA is SHAR and BEN is CRED, while SLEV is used for SEPA and is not allowed in cross-border flows.
How the charge codes work
Every SWIFT payment carries a charge code in field 71A of the MT103, or in the Charge Bearer element of an ISO 20022 message. It tells each bank along the way who pays its fee.
| Code | ISO 20022 | Sender's bank fee | Intermediary fees | What usually arrives |
|---|---|---|---|---|
| OUR | DEBT | Sender | Sender | The full amount |
| SHA | SHAR | Sender | Beneficiary, deducted in transit | The amount less intermediary deductions and the receiving bank's fee |
| BEN | CRED | Beneficiary, deducted from the amount | Beneficiary, deducted in transit | The amount less all charges |
| No equivalent | SLEV | Following the service level | Not applicable | Used for SEPA; not allowed in cross-border flows |
Sources: BNY, ISO 20022 pacs.008 training module; Swift MT103 Message Reference Guide (copy published by BNZ); Helm Editorial Team. As published on 29 October 2026.
Banks apply the codes under their own terms. Some add a fixed surcharge for OUR; others charge the sender afterwards for whatever the other banks claim. Many banks default to shared charges when no code is sent: Nordea's file guidance, for example, sets SHAR as its default.
Where a business meets the charge codes
The choice appears on every international payment screen, usually as "charges: shared / ours / beneficiary". It matters most when an invoice must be paid in full. Ohmyfin's analysis of US dollar payments sent in 2025 and 2026 found that 68 of 72 payments sent with SHA arrived short, with a median shortfall of $50, while 7 of 151 sent with OUR arrived short, with a median of $10. A short payment usually means a second payment to cover the gap, with a second sending fee.
Within Europe the choice is made for you. Article 62(2) of PSD2 requires payer and payee to each pay their own provider's charges for payments within the EU, and banks offer only shared charges for SEPA payments. OUR and BEN are only an option for payments leaving or entering the UK and EEA. Our guide to OUR, SHA and BEN fees compares what banks publish for each.
Common mistakes with charge codes
- Leaving the default. If your template defaults to SHA, an invoice that must arrive in full will often arrive short. Check the setting.
- Assuming OUR is a guarantee. It moves the cost to the sender in most cases, but a bank that does not honor it can still deduct.
- Not writing the terms into the contract. A line such as "payment by SWIFT in USD, all bank charges for the buyer's account (OUR)" settles the question before the first payment.
- Using BEN by mistake. BEN deducts even the sending bank's fee from the amount. It is rarely the right choice.
Related terms and how Helm handles it
The codes decide who pays the intermediary bank. Within SEPA only shared charges apply.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
What does OUR mean on a wire transfer?
OUR means the sender pays all charges, including its own bank's fee and the fees of intermediary banks, so the beneficiary should receive the full amount.
What does SHA mean?
SHA means shared charges. The sender pays its own bank's fee, and intermediary and receiving bank fees come out of the amount, so the beneficiary bears them.
What does BEN mean?
BEN means the beneficiary bears all charges, including the sending bank's fee, which is deducted from the amount before it is sent.
Which charge code should I use to pay an invoice in full?
OUR. In Ohmyfin's October 2026 sample, 7 of 151 US dollar payments sent with OUR arrived short, against 68 of 72 sent with SHA.
Can I choose OUR for a payment within Europe?
Not for payments within the UK and EEA. PSD2 requires each side to pay its own provider's charges, and banks offer only shared charges for those payments.
References
- Ohmyfin: Intermediary bank fees: who takes the cut, and how much (25 October 2026)
- Directive (EU) 2015/2366 (PSD2), Article 62: Charges applicable
- BNY: ISO 20022 Module 4, pacs.008.001.08
- Nordea (via XMLdation): Charge bearer guidance
- Swift: MT 103 Single Customer Credit Transfer, Message Reference Guide, Standards MT November 2021 (copy published by BNZ)
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.