Freemarket have introduced the capability to allow OUR fees along with SHA to be applied to Withdrawals.
- SHA (Shared): Payer will pay the Freemarket fee for the withdrawal and the beneficiary will incur charges raised by other banks handling the payment.
- OUR: Payer will pay the Freemarket fee plus a fee covering charges raised by other banks handling the payment.
When making a Withdrawal, the different transaction charge types will be displayed so they could be selected. Depending on the type selected, a different fee will be applied to the transaction.
End-to-end journey
Steps to be followed are outlined below:
Step one
Log into FMFX portal:

Step two
Once logged in, go to Balances, select an account and click on ‘Withdraw funds’.

Step three
Beneficiary selection step will follow:
a. Depending on the payment destination country, Transaction Charges option will or will not be displayed: i. Payment outside the European Economic Area (EEA)1 region: SHA/OUR option will be available:

An explanation of the different charges available will be shown when hovering over the (i) tooltip

ii. Payment within EEA region: SHA/OUR option will not be displayed as all payments within the EEA region will be defaulted to SHA
Step four
4. After selecting the desired Transaction charges, the payment will need to be confirmed and the details will be displayed. A breakdown of the Service fee will be available and the Transaction charges selected.

(1) EEA countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
- Knowledge Base Articles
- How to make a transfer
- Where do I transfer funds?
- Have you received my funds?
- How to cancel a transaction
- How do I know if my exchange has been completed?
- Creating a new exchange instruction
- What is a scheduled exchange?
- How long does it take to get my currency?
- Is there a minimum or maximum amount that I can exchange?
- Why hasn’t my exchange happened yet?
- Withdrawal approval function
- Why was my withdrawal cancelled?
- Do you make payments to third parties?
- How to make a withdrawal
- Why hasn’t the beneficiary received the funds?
- I have received a notification that I should withdraw my remaining balance but I can’t click on ‘Withdraw Balance’
- How long does it take to register?
- How to register: Personal Account
- How to register: Business Account
- Is it free to register?
- Why was my account rejected?
- What kind of documents should I submit for review with Compliance?
- When will my account be approved/rejected/reviewed?
- How to change your name and password
- How does it work?
- Freemarket & vIBANs
- How much do you charge?
- Unsupported jurisdictions
- How safe is my money?
- Risk appetite
- Customer complaints procedure
- Batch withdrawal function