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The short answer
On a SWIFT transfer from a Spanish bank, OUR means you pay all charges, including those of intermediary and receiving banks; SHA means you pay your bank's fee and the recipient bears the rest; BEN means the recipient bears all charges. If the full amount must arrive, for school fees or a fixed invoice, OUR is the option designed for that, though your bank's tariff decides the cost and some receiving-side charges can still apply.
Spanish banks ask the question in different words: "gastos a cargo del ordenante", "gastos compartidos", "gastos a cargo del beneficiario", or just OUR, SHA and BEN. Pick the wrong one and a ₦ school fee arrives short, or you pay charges you did not need to. The choice only applies to bank-to-bank SWIFT payments; remittance apps do not ask it.
What each option means
The codes come from the SWIFT payment message itself. BNZ's MT103 specification defines the charges field (71A) as mandatory, with three values:
- OUR (gastos a cargo del ordenante)
- The ordering customer, you, bears all transaction charges.
- SHA (gastos compartidos)
- The beneficiary bears all charges except those of the ordering customer's own bank. You pay your Spanish bank; the rest is deducted along the way.
- BEN (gastos a cargo del beneficiario)
- The beneficiary bears all charges, including your bank's, which are deducted from the amount sent.
The same specification shows fields for sender's charges (71F) taken by banks in the chain and receiver's charges (71G). That is how an intermediary can take a cut on its way through. According to a support note from the payments firm eco, cross-border SWIFT payments moved to the ISO 20022 format from 22 November 2025, and bank confirmations under it still show a "charge bearer".
Who are the intermediaries?
Euros from Spain to a Nigerian bank often pass through a correspondent bank where the Nigerian bank holds a euro account. GTBank's FX inflow page, for example, asks remitters for GTBank's account number with its correspondent bank and the correspondent's name or SWIFT code. Each bank in the chain may charge. Under SHA or BEN, those charges come out of the amount; under OUR your bank either charges you a fixed amount up front or passes the charges on afterwards, according to its tariff.
Which to choose
| Payment | Usually suits | Why |
|---|---|---|
| School fees, a fixed invoice, a property instalment | OUR | The payee expects an exact amount and will chase a shortfall |
| Money to family where a small deduction is acceptable | SHA | You pay your own bank; no OUR surcharge |
| Refunding or paying on the recipient's instruction to deduct costs | BEN | Rare for personal transfers |
Worked example (illustrative figures only)
Suppose a school asks for €2,000. Say your bank charges €30 to send, an intermediary takes €20 and the receiving bank €10 (example figures, not any bank's tariff). Under SHA you pay €2,030 and the school receives €1,970. Under BEN, the school receives €1,940. Under OUR, if your bank charges, say, a further €40 to cover the chain, you pay €2,070 and the school receives €2,000, unless the receiving bank deducts its own fee anyway. Your bank's actual charges are in its fee list (folleto de tarifas or información precontractual) and on the order screen.
When the amount arrives short anyway
If you chose OUR and the payee still reports a shortfall, ask the Nigerian bank for a breakdown of the credit: the amount received from the correspondent, and any charge it applied itself. Then ask your Spanish bank for the payment confirmation showing the charge option and the amount sent. With both, your bank can query a deduction made in the chain. Under SHA or BEN, a shortfall is expected; the question is only whether the payee can accept it or you top it up with a second, smaller payment.
Before you submit the order
- Get the recipient's full name as held by the Nigerian bank, the account number, the bank's SWIFT/BIC and, for euro accounts, its correspondent details.
- Check the currency: send euros only to a euro domiciliary account; for a naira account, your bank converts first.
- Check the charges and exchange rate your bank shows for each option before confirming.
- Keep the SWIFT confirmation; it is your proof if the amount arrives short.
More detail on the bank route: SWIFT transfers from a Spanish bank, and on intermediary bank fees.
Where Pryme fits
If what you need is naira in a Nigerian account rather than euros through SWIFT, a Pryme account can hold your euros, convert with Swap and send naira locally; the app shows the rate and the fee before you approve.
Questions people ask
What does SHA mean on a bank transfer?
Shared: you pay your own bank's charge and the beneficiary bears the other banks' charges, which are deducted from the amount.
Does OUR guarantee the full amount arrives in Nigeria?
It is designed for that, but some receiving banks still charge for inward credits. Ask the payee's bank.
What is gastos compartidos?
The Spanish term for SHA, shared charges.
Do Remitly or Western Union ask OUR or SHA?
No. Those options belong to SWIFT bank transfers. Money transfer apps show their own fee and rate instead.
Sources
- BNZ: SWIFT MT103 message specification · accessed Oct 2026
- GTBank: Foreign currency inward transfer (FX inflow) · accessed Oct 2026
- eco.com support: What is an MT103, and the move to pacs.008 · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.