Lifting fee

A lifting fee is the transaction fee charged to the recipient of cash transferred through a wire transfer, which the recipient's bank or an intermediary bank imposes for handling the transaction. The term also applies to foreign bank processing fees, which may be applied to a variety of other financial transactions besides a wire transfer. Some banks charge lifting fees to recipients that are clearly excessive, in comparison to the service performed.

Since it is difficult to determine in advance the amount of a lifting fee that will be charged, the agreed amount of a transfer may cause confusion between the payer and payee, since the payee is clearly not receiving the expected amount.

Related Courses

Corporate Cash Management 
Treasurer's Guidebook