When you send money abroad, banks along the route can take a fee. The charge option decides who pays.
Your money usually passes through three banks: the sending bank in India, one or more correspondent (intermediary) banks that hold the currency, and the receiver's own bank (beneficiary bank).
| Option | You pay | Deducted on the way / by the receiver's bank | Good for |
|---|---|---|---|
| OUR | Sending and correspondent bank charges, upfront | The beneficiary bank's own incoming fee, if it charges one | University fees, GIC, invoices |
| BEN | Nothing upfront for overseas charges | All overseas charges | Family support where a small deduction is fine |
GoRemit offers OUR and BEN. (A third option, SHA — shared — is rarely used by banks for these transfers.)
Why it matters for fees
Universities expect the exact invoice amount. With BEN, a correspondent bank may deduct USD 15–40 on the way, and the university records a shortfall. Choose OUR so the correspondent banks do not reduce the fee — and check whether the university's bank charges an incoming fee.
What it costs
The OUR charge is shown in your GoRemit quote before you pay, along with the bank's transfer charge, GST and any TCS.
Even with OUR…
OUR covers the sending and correspondent banks — not the receiver's own bank. The beneficiary bank may still deduct its incoming / receiving fee, an extra intermediary bank may occasionally deduct a charge, and if the receiving account is in a different currency the receiving bank converts it at its own rate. No one in India can guarantee the exact amount credited abroad, and overseas deductions cannot be refunded. For fees, ask the receiver (or university) to confirm their bank's incoming charges in advance.
