Introduction

It refers to the service that Bank of China authorize, entrusted by the remitter, an overseas affiliated bank or a correspondent bank to pay a certain amount of money to the specified remittee in the agreed method of remittance. The service is used for international settlement of fund transfer & remittance. Methods of remittance include telegraphic transfer, mail transfer and demand draft, among which telegraphic transfer and demand draft are frequently used.

Features

1.Low cost. Compared with L/C and collection, remittance is characterized by simple procedures and low cost.

2.Fast processing. Telegraphic transfer is faster and enables exporters to collect payments timely and accelerate capital turnover.

3.Simple operation. Remittance features simple operation and wide scope of application.