When does "paid_amount" differ from "amount"?

The "paid_amount" differs from "amount" when intermediary charges, fees, or currency conversion costs are applied during the transfer process.

Paid_amount

The paid_amount is the total amount sent by the sender when making a transfer. This is the full amount that leaves the sender’s account. It includes the amount meant for the recipient, as well as any possible fees charged during the transfer process.

Amount

The amount is the net amount received by the beneficiary in their account. This is after all intermediary deductions and charges have been applied during the transfer. These deductions can include:

1. Intermediary bank charges
2. Correspondent bank fees
3. Processing or conversion fees (in case of currency conversion)

During SWIFT transfers, intermediary bank charges may apply, which can result in a difference between the paid_amount and the amount received by the beneficiary. These charges are not imposed by Finmo, but by intermediary banks involved in processing the transaction.