# PayoutDelta - Cross-Border Remittance & Intermediary Fee Benchmark

> This is an llms-full.txt file. It is a standardized way to present information about a website to LLMs. Read more at https://llmstxt.org

> PayoutDelta is a cross-border remittance and intermediary-fee benchmarking engine for independent contractors: it models the settlement delta between direct local clearing (Raast, IMPS/NEFT/RTGS, SPEI, PIX, SEPA...) and a traditional SWIFT MT103 routed through JPMorgan Chase (CHASUS33), Citibank (CITIUS33), BNY Mellon (IRVTUS3N) or Standard Chartered (SCBLUS33). This full manifest enumerates every corridor in the dataset (72 corridors across USD, EUR and GBP origins as of 2026-09-24) with its benchmark intermediary deduction, correspondent BIC pool, statutory tax purpose code and recommended rail. Figures are informational benchmarks, not offers, and must be verified against the beneficiary bank's credit advice before invoicing.

## PayoutDelta Guides

- [Rate Leaderboard](https://ahmadbilaldsa.github.io/payout-delta/leaderboard): ranks all 72 corridors by the local-currency shortfall a USD 1,000 payout incurs across intermediary, invoice and direct rails.
- [Payout Calculator](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-pkr): models intermediary cuts, FX spreads and statutory withholding per corridor, with platform presets (Upwork, Fiverr, Deel) across 87 long-tail routes.
- [Invoice Studio](https://ahmadbilaldsa.github.io/payout-delta/invoice): contract-grade compliant invoices carrying the statutory purpose code and withholding for the selected corridor.
- [Regulatory / Tax Ledger](https://ahmadbilaldsa.github.io/payout-delta/tax-ledger): per-corridor statutory purpose codes, tolerances and withholding rationale.
- [SWIFT Auditor](https://ahmadbilaldsa.github.io/payout-delta/swift-auditor): reverse-engineers the correspondent route (direct vs SHA) for any destination BIC.
- [Embeddable Payout Widget](https://ahmadbilaldsa.github.io/payout-delta/embed/usd-to-pkr): a static backlink card for any publisher — active mid-market rate, SWIFT intermediary cut and the real net take-home on a $1,000 invoice in a single iframe (all 72 corridors live at /embed/<slug>/).

## PayoutDelta References

- [Machine-readable corridor + rate feed (JSON)](https://ahmadbilaldsa.github.io/payout-delta/api/fees.json): the full 72-corridor dataset with per-platform fees and FX spreads, refreshed daily.
- [API access & webhook contract](https://ahmadbilaldsa.github.io/payout-delta/api-access): integration reference for the static feed and derived endpoints.
- [Full 72-corridor manifest](https://ahmadbilaldsa.github.io/payout-delta/llms-full.txt): the complete table of intermediary cuts, correspondent BICs, purpose codes and recommended rails below.

## Corridor Database

Dataset snapshot: 2026-09-24T00:00:00Z — 72 corridors.

| Corridor | Base → Target | Export Rate (per 1 base unit) | Intermediary Cut (USD) | Correspondent Clearing BICs | Statutory Tax Purpose Code | Recommended Rail |
|---|---|---|---|---|---|---|
| [usd-to-pkr](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-pkr) | USD → PKR | 277.4259 | $15 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | SBP 9111 | Direct local clearing |
| [usd-to-inr](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-inr) | USD → INR | 95.8734 | $14 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | RBI P0802 | Direct local clearing |
| [usd-to-php](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-php) | USD → PHP | 62.8236 | $5 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | BIR 8% Freelance Gross Income Tax | Direct local clearing |
| [usd-to-brl](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-brl) | USD → BRL | 5.1311 | $18 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Benchmark (not statutory) | Traditional SWIFT (fallback) |
| [usd-to-gbp](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-gbp) | USD → GBP | 0.7477 | $18 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | Benchmark (not statutory) | Traditional SWIFT (fallback) |
| [usd-to-eur](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-eur) | USD → EUR | 0.8718 | $18 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | Benchmark (not statutory) | Traditional SWIFT (fallback) |
| [usd-to-ngn](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-ngn) | USD → NGN | 1330.691 | $18 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Benchmark (not statutory) | Traditional SWIFT (fallback) |
| [usd-to-bdt](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-bdt) | USD → BDT | 122.7592 | $18 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Benchmark (not statutory) | Traditional SWIFT (fallback) |
| [usd-to-egp](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-egp) | USD → EGP | 51.9283 | $18 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Benchmark (not statutory) | Traditional SWIFT (fallback) |
| [usd-to-zar](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-zar) | USD → ZAR | 16.2477 | $18 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Benchmark (not statutory) | Traditional SWIFT (fallback) |
| [usd-to-vnd](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-vnd) | USD → VND | 25450 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | SW / IT services | Direct local clearing |
| [usd-to-kes](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-kes) | USD → KES | 129.5 | $15 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | SWIFT service remittance | Direct local clearing |
| [usd-to-idr](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-idr) | USD → IDR | 15800 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | IT service export | Direct local clearing |
| [usd-to-cop](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-cop) | USD → COP | 4180 | $14 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | DIAN Retención — Export Services Art. 392 | Direct local clearing |
| [usd-to-try](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-try) | USD → TRY | 34.2 | $15 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Software Earnings Exemption Art. 89/13 | Direct local clearing |
| [usd-to-mxn](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-mxn) | USD → MXN | 19.8 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | RESICO Art. 113-E | Direct local clearing |
| [usd-to-ars](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-ars) | USD → ARS | 1020 | $18 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Exportación de servicios | Traditional SWIFT (SHA) |
| [usd-to-pln](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-pln) | USD → PLN | 3.95 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Ryczałt od przychodów ewidencjonowanych Art. 12 | Direct local clearing |
| [usd-to-ron](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-ron) | USD → RON | 4.58 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Microenterprise IT Regime Art. 47 | Traditional SWIFT (SHA) |
| [usd-to-czk](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-czk) | USD → CZK | 23.2 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Paušální režim | Traditional SWIFT (SHA) |
| [usd-to-thb](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-thb) | USD → THB | 33.5 | $15 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | 40(8) foreign-source income | Traditional SWIFT (SHA) |
| [usd-to-myr](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-myr) | USD → MYR | 4.35 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Foreign source | Traditional SWIFT (SHA) |
| [usd-to-ghs](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-ghs) | USD → GHS | 15.8 | $16 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Export services | Direct local clearing |
| [usd-to-aed](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-aed) | USD → AED | 3.6725 | $15 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Freelance Visa / Individual Natural Person Art. 3 | Traditional SWIFT (SHA) |
| [usd-to-sar](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-sar) | USD → SAR | 3.75 | $14 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Freelance Document Art. 68 | Traditional SWIFT (SHA) |
| [usd-to-uah](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-uah) | USD → UAH | 40.2 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | ФОП Group 3 (IT) | Traditional SWIFT (SHA) |
| [usd-to-iqd](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-iqd) | USD → IQD | 1310 | $18 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Cross-border services | Direct local clearing |
| [usd-to-mad](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-mad) | USD → MAD | 9.9 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Régime Auto-Entrepreneur Art. 82 | Direct local clearing |
| [usd-to-clp](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-clp) | USD → CLP | 936 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Boleta de Honorarios — Retención 10% Art. 74 No. 6 | Traditional SWIFT (SHA) |
| [usd-to-pen](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-pen) | USD → PEN | 3.72 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Renta 4ta Categoría — Retención 8% Art. 34-A | Traditional SWIFT (SHA) |
| [usd-to-huf](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-huf) | USD → HUF | 356 | $10 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Szja declaration | Direct local clearing |
| [usd-to-bgn](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-bgn) | USD → BGN | 1.72 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | ФЛДД | Direct local clearing |
| [usd-to-rsd](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-rsd) | USD → RSD | 107.5 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Freelance income | Direct local clearing |
| [usd-to-sgd](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-sgd) | USD → SGD | 1.3 | $10 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Self-employment income | Direct local clearing |
| [usd-to-hkd](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-hkd) | USD → HKD | 7.79 | $10 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Salaries tax | Direct local clearing |
| [usd-to-sek](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-sek) | USD → SEK | 10.4 | $9 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Riksbank INK1 | Direct local clearing |
| [usd-to-nok](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-nok) | USD → NOK | 10.75 | $9 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Skatt M-2 | Traditional SWIFT (SHA) |
| [usd-to-dkk](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-dkk) | USD → DKK | 6.85 | $9 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Ligning | Traditional SWIFT (SHA) |
| [usd-to-bam](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-bam) | USD → BAM | 1.8 | $12 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | Neto dohodak | Direct local clearing |
| [usd-to-gel](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-gel) | USD → GEL | 2.72 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Personal Income Tax 20% Art. 96 | Direct local clearing |
| [usd-to-uyu](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-uyu) | USD → UYU | 40.2 | $14 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | IRPF cuota profesional | Direct local clearing |
| [usd-to-crc](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-crc) | USD → CRC | 515 | $14 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Impuesto sobre la Renta Art. 3 | Traditional SWIFT (SHA) |
| [usd-to-hrk](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-hrk) | USD → EUR | 0.92 | $10 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | Porez na dohodak Art. 15 | Direct local clearing |
| [usd-to-tzs](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-tzs) | USD → TZS | 2640 | $15 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | e-services export | Traditional SWIFT (SHA) |
| [usd-to-ugx](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-ugx) | USD → UGX | 3710 | $15 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | services export | Traditional SWIFT (SHA) |
| [usd-to-rwf](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-rwf) | USD → RWF | 1385 | $14 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | ICT export | Traditional SWIFT (SHA) |
| [usd-to-zmw](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-zmw) | USD → ZMW | 26.5 | $15 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | services export | Traditional SWIFT (SHA) |
| [usd-to-npr](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-npr) | USD → NPR | 134.5 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | inward IT remittance | Direct local clearing |
| [usd-to-lkr](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-lkr) | USD → LKR | 298 | $12 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | foreign currency services | Traditional SWIFT (SHA) |
| [usd-to-kzt](https://ahmadbilaldsa.github.io/payout-delta/calculator/usd-to-kzt) | USD → KZT | 480 | $10 | CHASUS33, CITIUS33, IRVTUS3N, SCBLUS33 | Astana Hub IT Exemption Art. 293 & 394 | Direct local clearing |
| [eur-to-pkr](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-pkr) | EUR → PKR | 300 | $16 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | SBP 9111 | Direct local clearing |
| [eur-to-inr](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-inr) | EUR → INR | 91 | $14 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | RBI P0802 | Direct local clearing |
| [eur-to-php](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-php) | EUR → PHP | 61 | $17 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | BIR 8% Freelance Gross Income Tax | Direct local clearing |
| [eur-to-bdt](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-bdt) | EUR → BDT | 131 | $15 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | BB EXP | Direct local clearing |
| [eur-to-ngn](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-ngn) | EUR → NGN | 1750 | $22 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | CBN AUT | Direct local clearing |
| [eur-to-egp](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-egp) | EUR → EGP | 52.5 | $18 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | CBE EXP | Direct local clearing |
| [eur-to-brl](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-brl) | EUR → BRL | 6 | $20 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | BCB BACEN | Direct local clearing |
| [eur-to-vnd](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-vnd) | EUR → VND | 27000 | $12 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | SW / IT services | Direct local clearing |
| [eur-to-idr](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-idr) | EUR → IDR | 17200 | $13 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | IT service export | Direct local clearing |
| [eur-to-mxn](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-mxn) | EUR → MXN | 21.5 | $19 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | RESICO Art. 113-E | Direct local clearing |
| [eur-to-try](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-try) | EUR → TRY | 37.5 | $21 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | Software Earnings Exemption Art. 89/13 | Direct local clearing |
| [eur-to-kes](https://ahmadbilaldsa.github.io/payout-delta/calculator/eur-to-kes) | EUR → KES | 141 | $23 | DEUTDEFF, BNPAFRPA, COMMDEFF, SANBDEFF, BBVADEFF | SWIFT service remittance | Direct local clearing |
| [gbp-to-pkr](https://ahmadbilaldsa.github.io/payout-delta/calculator/gbp-to-pkr) | GBP → PKR | 355 | $24 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | SBP 9111 | Direct local clearing |
| [gbp-to-inr](https://ahmadbilaldsa.github.io/payout-delta/calculator/gbp-to-inr) | GBP → INR | 108 | $11 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | RBI P0802 | Direct local clearing |
| [gbp-to-php](https://ahmadbilaldsa.github.io/payout-delta/calculator/gbp-to-php) | GBP → PHP | 72 | $25 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | BIR 8% Freelance Gross Income Tax | Direct local clearing |
| [gbp-to-bdt](https://ahmadbilaldsa.github.io/payout-delta/calculator/gbp-to-bdt) | GBP → BDT | 155 | $26 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | BB EXP | Direct local clearing |
| [gbp-to-ngn](https://ahmadbilaldsa.github.io/payout-delta/calculator/gbp-to-ngn) | GBP → NGN | 2070 | $28 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | CBN AUT | Direct local clearing |
| [gbp-to-egp](https://ahmadbilaldsa.github.io/payout-delta/calculator/gbp-to-egp) | GBP → EGP | 62 | $27 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | CBE EXP | Direct local clearing |
| [gbp-to-kes](https://ahmadbilaldsa.github.io/payout-delta/calculator/gbp-to-kes) | GBP → KES | 167 | $29 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | SWIFT service remittance | Direct local clearing |
| [gbp-to-zar](https://ahmadbilaldsa.github.io/payout-delta/calculator/gbp-to-zar) | GBP → ZAR | 23.5 | $30 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | Repat | Direct local clearing |
| [gbp-to-ghs](https://ahmadbilaldsa.github.io/payout-delta/calculator/gbp-to-ghs) | GBP → GHS | 20.5 | $31 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | Export services | Direct local clearing |
| [gbp-to-pln](https://ahmadbilaldsa.github.io/payout-delta/calculator/gbp-to-pln) | GBP → PLN | 5.1 | $9 | BARCGB22, MIDLGB22, SCBLGB2L, HSBCGB2L | Ryczałt od przychodów ewidencjonowanych Art. 12 | Direct local clearing |

### Correspondent clearing nodes

Public SWIFT/BIC identifiers a traditional MT103 may clear through before the recipient bank. The pool listed per corridor matches its clearing currency (USD, EUR or GBP).

- USD · JPMorgan Chase New York (CHASUS33), Citibank New York (CITIUS33), BNY Mellon New York (IRVTUS3N), Standard Chartered New York (SCBLUS33)
- EUR · Deutsche Bank Frankfurt (DEUTDEFF), BNP Paribas Paris (BNPAFRPA), Commerzbank Frankfurt (COMMDEFF), Santander Frankfurt (SANBDEFF), BBVA Frankfurt (BBVADEFF)
- GBP · Barclays London (BARCGB22), HSBC UK (MIDLGB22), Standard Chartered London (SCBLGB2L), HSBC Bank London (HSBCGB2L)

### Notes on the numbers

- Intermediary Cut is the median SHA deduction benchmarked from each corridor's audited bank records; the actual deduction appears on the beneficiary bank's credit advice (CRF).
- Export Rate is quoted per one unit of the corridor's Base currency (USD, EUR or GBP given in the "Base → Target" column); it is the local-currency equivalent of one unit delivered through the modern rail.
- Recommended Rail is derived from the corridor's published clearing network: local RTGS / instant / ACH rails (Raast, BEFTN, IMPS, NEFT, RTGS, SPEI, PIX, BI-FAST, InstaPay, SEPA, CHAPS) are classified direct; anything else is classified as a traditional SWIFT MT103.
- Statutory Tax Purpose Code lists the first statutory tier's purpose code plus an article reference where the regime is statute-specific (e.g. "RESICO Art. 113-E" for Mexico's LISR regime).
- Nothing on this site is legal or financial advice.