lifting charge
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- How to read in Japanese: lifting charge
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A lifting charge is a type of international remittance fee that is charged when conducting a foreign exchange transaction in the same currency. In the case of remittance, it is charged when funds are paid in the same foreign currency as the foreign currency to which they are remitted.
For example, you may wish to transfer US dollars to another account in US dollars without any exchange of currency.
In the case of receiving, it is charged when funds are received in the same foreign currency. For example, when you deposit the US dollars sent to you into your own account in US dollars.
If the transfer or receipt of funds does not involve the exchange of money from one foreign currency to a different foreign currency, no exchange fee is charged. However, if no fees are charged, there would be no profit for the bank. Therefore, the lifting charge is collected by the bank on international transfers without currency exchange.