Name
Remittance
Introduction
It is a kind of settlement that the remitter entrusts Bank of China to make payment to domestic remittees. There are three kinds of remittance: general remittance, real-time remittance and general credit.
Electronic remittance is currently adopted by Bank of China.
Features
1. Remittance within the system is carried out via Bank of China's electronic transfer system, which is safe and timely. The cross-system remittance is carried out via electronic transfer system of People's Bank of China;
2. General remittance and real-time remittance can meet the requirements on capital arrival time of various customers.
Scope of Application
It is applicable to corporate customers or individual customers for domestic cross-city or inter-city settlement of various kinds.
Process
1. The Remitter should fill the summary document. When the document is verified and approved by the remitting bank, the remittance will be transferred to the receiving bank;
2. The receiving bank transfers the fund into the remittee's account.
Kind Reminder
The business documents should be distinctly filled and there should be adequate balance on the account.
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