What does CBC mean in TRANSPORTATION

Cross Border Charges may be incurred with a variety of transactions, including credit or debit card payments, wire transfers, and direct deposits. The type of financial transaction conducted will dictate whether or not these charges apply.

Generally, the sender is responsible for paying any applicable Cross Border Charges when executing an international transfer. These fees are typically added to the total cost before being deducted from the funds sent with payment.

The amount charged depends on the type of transaction being conducted as well as a variety of other factors, such as exchange rates and applicable bank fees. As such, CBCs may range from negligible charges (such as a nominal percentage fee) up to more substantial amounts — particularly in cases where multiple currencies must be converted in order to complete the transaction.

In many circumstances, it is possible to reduce your CBC cost by choosing providers who offer lower fees or more favourable exchange rates. Researching different banks and processing companies prior to making a payment may help you save on these costs.

Not all CBCs are regulated — while some jurisdictions may have legislation in place regarding certain types of international payments, this is not always the case. It is important to familiarize yourself with applicable laws before conducting cross-border transfers.