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A person in China wire transferred X US Dollars (after fees & charges of the sending bank) to my Capital One 360 checking account in the US, and the amount I received was X-15 USD. When I contact Capital One customer service they insist that there is no charge for incoming international wire and that X-15 USD was the amount they receive. Since the transaction was in USD so there should be no difference caused by any exchange rate. Is there any other source anywhere in the wire transfer process that could potentially charge a fee, and how could I find out about it?

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    Are you sure the source bank didn't take the $15? – quid Apr 26 '18 at 18:13
  • @quid The source bank charged a transaction fee in CNY, and on their receipt for the wire transfer the wired amount indicated was X USD. So that the source bank took the $15 was unlikely. – sl1129 Apr 26 '18 at 18:34
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    They might. I could not find anything about Capital One's incoming wire transfer fees, but for incoming foreign checks their policy states "we will not charge a fee, but the paying bank may deduct a fee from the proceeds." so... maybe? – CactusCake Apr 26 '18 at 20:42
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    It was some intermediary bank, most likely whatever bank converted the CNY to USD. – David Schwartz Apr 26 '18 at 21:57
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Chances are that the bank used in China and the bank used in the US do not have direct interactions - there are just too many banks in the world to have each one work with each one.
Therefore, they both connect with a more global working third-party bank. This third bank will take a fee too, for simply making the connection (what else would it live from). $15 or $20 seems to be the usual fixed price for such a 'connection-making' and passing through of the wire-transfer.

If you look at the deposit in detail, there is often a writeup (although in short codes) of all banks participating in the transfer, and what fee they took.

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  1. "Capital One customer service they insist that there is no charge for incoming international wire" simple plain lie. (instead of a "fee" they will have a "charge", "processing activity!" or something)

  2. "Is there any other source anywhere in the wire transfer process that could potentially charge a fee" For sure: intermediary banks. they take a fee along the way. Just another banking scam - indeed this is one of the basic banking scams (of many). {Because being an "intermediary bank" is so lucrative, banks just set up their own "intermediary banks" so that they can charge more fees there (but of course, then they can say "oh, 'we' don't charge you a fee!"}

  3. "after fees & charges of the sending bank.." Chinese banks (but then indeed >all banks<) notoriously just charge more fees even after charging a fee. It would be completely normal that "the branch" charged your friend say $22, thus sending $1234 "net", BUT, another depertment of the bank just deducts another $5 or $15 (why not? - wouldn't you?)

  4. on their receipt for the wire transfer the wired amount indicated was X USD. So that the source bank took the $15 was "unlikely" on the contrary it is RARE that they actually send what it says on the receipt. Unfortunately your "unlikely" is just incorrect.

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