Please keep in mind that if you choose to receive payouts using the “International wire transfer” method, Smartcat will deduct $5 per payout under $250. No fee applies to payouts exceeding $250.
Additionally, intermediary banks that process the transaction may also charge a fee which can be between $5 and $40.
Why are intermediary banks involved in the process?
If the two banks that process the payment from Smartcat to the recipient don’t have a direct relationship, one or more intermediary banks must be found to facilitate the transfer. This is done automatically without Smartcat’s involvement. Since there are more operations happening behind the scenes, this kind of transfer is more expensive and may take a bit longer to complete.
Unfortunately, we do not have an impact on intermediary banks’ policies nor are we able to provide accurate information on the amount of fees applicable.
Please consider this information and, if this doesn’t suit your needs and expectations, use a different available option for receiving payouts.