Are There Deductions on Incoming SEPA Transfers?

One of the most common questions for those receiving euros from abroad is whether a deduction will be made from the incoming transfer. The answer varies depending on where it comes from and the recipient's situation. In this guide we explain which deductions can arise on incoming SEPA (or SWIFT) transfers and how you can prevent them.

Intra-EU: usually no deduction

On a euro→euro SEPA transfer where both parties are within the EU/EEA, there is usually no deduction from the recipient. The EU's equal-charges principle on cross-border euro payments and SEPA's structure without an intermediary bank support this. So someone receiving euros from Germany to France usually receives nearly the whole amount.

Non-EU/EEA SEPA countries: a deduction is possible

In non-EU/EEA SEPA countries such as Switzerland and the United Kingdom, the situation is different. The EU's equal-charges protection may not apply automatically, and the recipient bank can charge a fee for the incoming transfer. Users in these countries should be cautious of the assumption "I am within SEPA scope, so there is no deduction". For the full picture, see the SEPA member but the bank doesn't support it page.

Turkey: SWIFT + exchange-rate margin

Because Turkey is outside SEPA, incoming euros usually arrive via SWIFT. In this case three deduction items are possible: the intermediary (correspondent) bank charge, the Turkish recipient bank's incoming transfer fee, and (if your account is in TRY) the exchange-rate margin in converting the euro to TRY. That is why it is normal for there to be a difference between the "amount sent" and the "amount credited to my account". To estimate the incoming amount in advance, use the Incoming EUR transfer calculator.

Ways to prevent the deduction

1. Learn the recipient bank's fee. Ask your bank whether a fee is charged for an incoming transfer.
2. Use a euro account. If the incoming euros are deposited as euros, there is no exchange-rate margin at that step.
3. Discuss the charge sharing. Consider the OUR option with the sender; it can let the recipient receive more.
4. Estimate the incoming amount. Calculate in advance to avoid a surprise.

Summary

Whether there is a deduction from an incoming euro transfer depends on the source of the transaction and the recipient's situation. On intra-EU euro→euro SEPA there is usually no deduction; outside the EU/EEA, on transactions that fall back to SWIFT and on a non-euro account, a deduction is possible. On euros incoming to Turkey, the intermediary/recipient bank and the exchange-rate margin are the most likely items.