1. SHA (Shared) — The Most Common Mistake

• How it works: You pay your local bank’s outgoing fee, and the university pays the receiving bank’s fee.
• The Problem: Any “Intermediary” or “Middleman” banks involved in the transfer will deduct their fees from the principal amount while the money is in transit.
• The Result: If you send $10,000, the university might receive $9,970. Your student portal will show a “Balance Due” of $30, which can prevent you from registering for classes.

2. BEN (Beneficiary) — Never Use for Tuition

• How it works: You pay nothing upfront. The university (the beneficiary) pays all the fees—the sending fee, the intermediary fees, and the receiving fees.
• The Result: All costs are deducted from your tuition money. The university will receive significantly less than what you sent, leading to a large debt on your student account.

3. OUR (Sender Pays All) — The Gold Standard

• How it works: You pay all the fees at your local bank. This includes the sending fee and a “guaranteed delivery” fee that covers any intermediary bank charges.
• The Result: The university receives the exact amount you sent. This is the only way to ensure your tuition is marked as “Paid in Full” the moment it arrives.

2026 Comparison Table: Who Pays What?

4. 2026 Update: ISO 2022 Codes

Many modern banks in 2026 have moved to the ISO 2022 standard. You might see different terms on your banking app that mean the same thing:

• DEBT (equivalent to OUR): You take on the full debt of the fees.
• SHAR (equivalent to SHA): Fees are shared.
• CRED (equivalent to BEN): The receiver (creditor) pays.

5. Summary: The “Student Rule”

Always select OUR (or DEBT). While your bank might charge you an extra $20 to $40 upfront for the OUR code, it is much cheaper than the administrative headache and potential “Late Payment Fees” your university might charge if your payment arrives short by even $1.