When sending international or domestic payments, it’s not always clear how fees are applied. In many cases, the recipient ends up receiving less than expected, or the sender covers more than intended. This creates confusion for finance teams and vendors, especially when dealing with cross-border payments or large transactions.

To give you more clarity and control, we’ve introduced a new feature that allows you to choose how fees are applied for every payment.

Introducing fee options on Finofo payments

You can now select the fee type for each transaction directly within the payment flow. There are three options:

• Shared (SHA): You and the recipient split the fees.
• You Pay (OUR): You cover all the fees so the recipient receives the full amount.
• Recipient Pays (BEN): The recipient pays all fees, and the final amount received will be reduced.

This lets you manage payments according to internal policies or vendor preferences without having to explain unexpected fee deductions after the fact.

For example:

• If you're sending an international wire transfer with a fee and choose OUR, Finofo will ensure the full payment reaches your vendor. The fee will be absorbed on your side.
  

• If you're paying a US-based vendor via ACH and choose BEN, the vendor will receive the payment amount minus the fee. This is useful when you want to pass the fee along.

You decide who covers the fees per transaction, with full visibility. Whether it’s local or international, you stay in control.

Book a demo to see how it fits into your payment workflows.