This article covers:
Why the full Top-Up amount is not reflected?
How to ensure the full Top-Up amount gets reflected?
The full Top-Up amount that you requested is likely not reflected due to bank fees.
Sending funds via the SWIFT network (International Bank Transfer) is subject to correspondent banking fees, which will be deducted from the bank before being credited to your CargoWALLET (Prepaid Balance).
Local Bank Fees may also charge a transaction fee. We advise reviewing the transaction details to check for any applicable fees that may have been deducted.
In that case, how do I ensure the full Top-Up amount reflects in my CargoWALLET?
When instructing your bank to send payment to CargoAi, you need to choose to bear all bank fees = Select “OUR” charges when initiating the transfer.
IF you select “SHA” charges when initiating the transfer, this means CargoAi will be partially charged for fees. Therefore we will only credit the remaining amount to your CargoWALLET (Prepaid Balance).
For your info:
“OUR” = bank charges to be borne by remitter (you the sender)
“SHA” = bank charges to be shared by remitter and receiver
If you need any help, please contact us at : SUPPORT+WALLET@CARGOAI.CO
We hope you find this article useful!