Thats true Chip, total rippoff! Traditionally the sender pays a fee, it can be from $5 to $50 depending on how greedy the bank is. However, this system is a bit complicated and some smaller banks that do not have direct relations with the intermediary bank charge a handling fee.

If I get money from Bank X in Latvia and it has a USD Swift relationship with American Express Bank in New York, but my bank Bank Y in Iceland, has USD Swift relationship with Chase Manhattan then that means that AMEX bank has to transfer the funds to Chase before it can reach Bank Y's account, and eventually mine. In these cases, most banks charge incoming fee. (BANK X to AMEX to CHASE to BANK Y to ME)

However, if Bank X and Bank Y both have accounts and do business with the same intermediary bank (AMEX bank in this example) then there would not be a fee. (normally - depends on banks)

Does this make any sense? :boring:

PS. Chip, I added you to my ICQ... hit me up!