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The short answer
When a US wire lands in Nigeria for less than you sent, the gap is usually a charge taken by a correspondent bank on the way, a receiving charge at the Nigerian bank, or a currency conversion nobody expected. Ask your bank for the SWIFT confirmation of the wire, often called the MT103 copy: it shows the amount sent, the charge option chosen and the reference to trace it.
Three places money comes off
| Where | What it looks like | Who can tell you |
|---|---|---|
| A correspondent or intermediary bank in the US | A round deduction such as $10 to $30, taken before the money reaches Nigeria | Your bank, by tracing the wire |
| The Nigerian bank's receiving charge | A line on the receiver's statement | The receiver's bank, from its tariff |
| An unplanned conversion | Dollars credited as naira, at a rate you did not choose | The receiving bank |
The figures in the first row are illustrative. Neither your bank nor the correspondent publishes the deduction on your form, which is why it surprises people.
OUR, SHA and BEN: the charge option
Banks give each international wire a charge option. Barclays, which publishes the three choices plainly, describes them as:
- OUR
- The sender pays all charges, including the overseas ones. The receiver should get the full amount, though the sender pays more up front.
- SHA
- Shared: the sender pays their own bank's fee, and other banks' charges are taken from the amount.
- BEN
- All charges are taken from the amount; the receiver bears them.
Many US banks do not show the choice on their consumer screens and send wires on a shared basis. Ask yours which option it uses, and whether it offers OUR for Nigeria. Bank of America's page notes that inbound wires may incur a $15 fee at its end, a reminder that receiving banks charge too.
Reading the SWIFT confirmation
Ask your bank for the confirmation of the outgoing payment. It is the record of the instruction your bank sent, and it lets you separate your bank's part from what happened later. Look for:
- The amount and currency sent, after your own bank's fee.
- The charge option (OUR, SHA or BEN).
- The beneficiary details, including the name and account number; Fidelity's 2025 SWIFT sheet shows these in field 59.
- The UETR, a 36-character reference in field 121. Swift says every bank in the chain must pass it on, and any of them can use it to locate the payment, so your bank can trace exactly where a deduction was made.
If the confirmation shows the full amount left your bank, the deduction happened later. If it shows less, your bank took more than you expected; ask why.
What the rules say about disclosure
A consumer wire abroad is generally a remittance transfer, and the CFPB says the provider must disclose fees, taxes, the exchange rate and the amount to be delivered before you pay. The rule's receipt requirements, in 12 CFR 1005.31, also allow a statement that the recipient may receive less because of fees charged by the recipient's bank and foreign taxes. So a correspondent fee should be reflected in the disclosed amount, but a Nigerian bank's own receiving charge may sit outside it. If the amount delivered is less than the disclosure promised, that can be an error you can report within 180 days of the availability date.
Worked example
Example only. Funke's disclosure says $2,000 will be delivered, after her bank's $40 fee. Her mother's statement shows $1,975. The SWIFT confirmation shows $2,000 left in US dollars on SHA. Her bank traces the UETR and finds a $15 deduction by a correspondent and a $10 receiving charge in Nigeria. Funke can ask her bank about the $15, because the disclosure promised $2,000 delivered; the $10 is the Nigerian bank's own charge, which the receiver can query with that bank.
Questions for the receiver to ask their bank
- What did you charge on this incoming wire, and where is it on my statement?
- Did the wire arrive in dollars, or did you convert it?
- What is the full amount you received from your correspondent?
- What is your standard charge on incoming dollar transfers?
The answer to the third question settles the matter: if the Nigerian bank received less than your bank sent, the deduction happened in the US leg and your bank can trace it.
How to avoid the next shortfall
- Ask your bank whether it can send OUR to Nigeria and what that costs.
- Use the Nigerian bank's current correspondent from its own sheet; an outdated route can add a hop.
- Send US dollars to a domiciliary account, not a naira account, so no bank converts unexpectedly.
- Ask the receiver's bank what it charges on incoming dollar wires.
- For small sums, compare the total cost with a provider that pays naira and shows the amount delivered up front; see what sending $5,000 costs.
For the full route and where each fee sits, read how a US wire to Nigeria travels.
Where Pryme fits
A Pryme account opened from the US holds dollars and naira. When you Swap and pay a Nigerian account, the app shows the rate and the fee before you approve, so you see the naira amount first.
Questions people ask
Why did my wire to Nigeria arrive short?
Usually a correspondent bank took a fee on the way, the Nigerian bank charged on receipt, or the dollars were converted to naira. Your bank can trace the wire to see which.
What is an MT103?
The SWIFT payment message for a customer transfer. Banks call the copy they give you the MT103 or SWIFT confirmation; it shows the amount sent, the charge option and the UETR.
Can I make sure the full amount arrives?
Ask your bank whether it can send with the OUR charge option, where you pay all charges up front.
Can I get the missing money back?
If less arrived than your disclosure promised, report it to your bank as an error within 180 days of the availability date.
Sources
- Barclays: International payments (OUR, SHA and BEN charge options) · accessed Oct 2026
- Swift: What is a UETR? · accessed Oct 2026
- Fidelity Bank Plc: Details for SWIFT transfers 2025 · accessed Oct 2026
- CFPB: What is a remittance transfer and what are my rights? (reviewed 3 Oct 2024) · accessed Oct 2026
- eCFR: 12 CFR Part 1005 Subpart B, Requirements for remittance transfers · accessed Oct 2026
- Bank of America: Wire transfers in Online Banking and the Mobile app · 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.