Relevant knowledge of wire transfer business process
1. The concept and characteristics of telegraphic transfer: telegraphic transfer is a remittance method in which the remitter sends a charge telegram, telex or SWIFT message to its branches or correspondent banks abroad at the request of the remitter, instructing them to remit a certain amount to the payee.
Second, the wire transfer business process
(1) The remitter fills in the wire transfer application and submits it to the remittance bank to pay the remittance.
(2) The remittance bank accepts the application and gives the remittance receipt to the remitter;
(3) The remitting bank sends the remittance power of attorney to the foreign correspondent bank by telex or SWIFT according to the instruction of the telegraphic transfer applicant;
(4) The remitting bank receives the remittance power of attorney sent by telex or SWIFT from abroad, and after verifying that the password is correct, it prepares a wire transfer notice to inform the payee to withdraw money.
(5) The payee draws money with the notice and other valid vouchers, and signs the receipt of the payee;
(6) The remitting bank borrows the remitting bank account, takes out the position and remits the remittance to the payee;
(7) The remittance bank sends the paid deduction notice to the remittance bank;
(8) If there is no direct account relationship between the remitting bank and the collecting bank, it is necessary to clear the position (see the position clearing section for remittance payment).
Three, wire transfer two remittance methods
(1) telegraphic or telex remittance (please refer to another page for input questions).
(b) use express wire transfer.
1, Introduction to SWIFT
SWIFT, also known as "Global Banking Financial Telecommunication Association", is an international cooperation organization among international banks, which was established in 1973. At present, most banks in most countries around the world have used the SWIFT system. By using SWIFT, bank settlement provides safe, reliable, fast, standardized and automated communication services, thus greatly improving the settlement speed of banks.
2.SWIFT function
(1)SWIFT requires membership. Most professional banks in China are its members. (Check the identification code of China Bank that has joined the SWIFT organization)
(2) The cost of 2)SWIFT is very low. For the same content, the cost of SWIFT is only about 18% of that of telex and only about 2.5% of that of telegram.
(3)SWIFT has high security. SWIFT encryption is more reliable, more confidential and more automated than telex encryption.
(4) The format of 4)SWIFT is standardized. For SWIFT messages, SWIFT organizations have uniform requirements and formats. (Check the applicable SWIFT remittance format)
3.SWIFT message indicates.
(1) project representation
SWIFT consists of a field, such as: 59 beneficiary is the project, and 59 is the code of the project, which can be represented by two digits or two digits plus letters, such as 5 1a applicant. Different code names mean different things. The project also stipulates a certain format, and all kinds of SWIFT messages must be expressed in this format.
In the SWIFT message, some items are required fields and some are optional fields. Required items, such as: 59 Beneficiary customers. Optional items are additional items, which may not be available in every SWIFT, such as 7 1A charge details.
(2) Date expression
The date of the SWIFT message is expressed as YYMMDD (year, month and day), such as 1999 May 12, which is expressed as: 990512; March 2000 15, expressed as: 000315; 200165438+February 9th, expressed as: 0 1 1209.
(3) digital representation
In SWIFT messages, numbers do not use frame numbers, and decimal points are represented by commas, such as: 5,152,286.36: 5152286,36; 4/5 is expressed as: 0,8; 5% means: five percent.
(4) Monetary expression
Australian dollar: Australian dollar; ; Austrian dollar: ATS；; Belgian franc: BEF；; Canadian dollar: Canadian dollar; ; Rmb: CNY；; ; Danish krone: DKK；; ; Deutschmark: Deutschmark; ; Dutch guilder: NLG；; ; Finnish mark: FIM；; French franc: France; Hk: Hong；; Italian lira: ITL；; ; Japanese yen: JPY；; Norwegian krone: NOK；; Pound: Pound; ; Swedish krona: SEK；; ; Dollar: USD
4. Position clearing (commonly known as position allocation or remittance settlement):
When handling remittance business, the remitting bank should transfer the remittance amount to the remitting bank in time, which is called remittance reserve reimbursement, or commonly known as position allocation. Position allocation is an important link in remittance settlement. The remittance bank will only handle the understanding payment after receiving the declaration of foreign remittance position or the notice that the foreign remittance bank account can be deducted immediately. Therefore, when remitting money, the remittance notice receipt must indicate the repayment instruction and specify the method of allocating the position in remittance. According to the account opening situation of the remitting bank and the collecting bank, there are the following methods to adjust positions.
1. When the contemporary collecting bank has an account with the collecting bank, the collecting bank authorizes the collecting bank to debit its account in the payment power of attorney. After receiving the power of attorney, the remitting bank debits the account of the remitting bank with the authorization, allocates the position and pays it to the payee, and sends a debit declaration form to inform the remitting bank.
2. When the remitting bank has an account with the remitting bank, the remitting bank must first credit the corresponding position to the remitting bank account, and then issue a remittance power of attorney and a credit statement; After receiving the power of attorney, the remittance bank will use the position to remit the remittance to the payee.
3. If there is no direct account relationship between the remitting bank and the receiving bank, but there are * * * same account lines, click the pop-up tool.
(1) The remitting bank sends a power transmission to the remitting bank, sends a remittance power of attorney, and approves the warehouse transfer instruction: t.t/incover. We have authorized Bank X to debit our account and credit it to your account.
(2) The remitting bank sends a telex to the same bank as the remitting bank, sends a payment instruction, instructs to debit its bank, and credits the account of the remitting bank.
(3) *** Debit the remitting bank account of the same bank and issue a debit notice at the same time.
(4) *** The same bank shall credit the remittance bank account and issue a credit notice at the same time.
4. When there is no account line between remittance banks, but there is an account relationship between their respective account lines, the specific remittance reimbursement process is as follows:
(1) The remitting bank sends a power transmission to the remitting bank, sends a remittance power of attorney, and approves the instruction to transfer positions: t.t/incover, and we have instructed X (X is the remitting bank's bank) to remit money to you; ;
(2) The remitting bank sends a payment instruction to its bank, instructing the bank to debit its account and remit the money to the remitting bank;
(3) The remitting bank's account is debited by the remitting bank's account, credited by the remitting bank's account, issued with a credit declaration and a debit declaration to the remitting bank;
(4) The account bank of the remitting bank credits the account of the remitting bank and sends the credit declaration to the remitting bank.
(5) The remittance bank receives the remittance and pays it to the payee by using the remittance position.
5. If there is no account relationship between the remitting bank and the account line of the remitting bank, reimbursement will be made through the * * * of the account line.
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Mail transfer The difference between remittance by letter and telegraphic transfer is that the remittance bank sends the payment commission to the remittance bank by air, so the remittance speed is slower than that of telegraphic transfer. At present, European banks no longer handle transfer business because there are many manual procedures for transfer.
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Other information:
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I. The concept of remittance
Two. Remittance party
Three. method of remittance
Four. Remittance business process
Verb (abbreviation of verb) preventive measures
Cases of intransitive verbs
I. The concept of remittance
Remittance refers to the importer remitting money to the exporter through the bank. Remittance is mainly used to pay for goods, advance payment, commission, etc. in trade, and it is the easiest way to pay for goods.
Two. Remittance party
1. Remitter
The remitter is usually the importer.
2. Payee or beneficiary
The person who receives the money, also known as the beneficiary, is usually the exporter.
Step 3 send a single order
The bank that handles the remittance.
4. Remittance bank (paying bank)
Remittance bank The bank entrusted to pay remittance is generally the payee's bank.
Three. method of remittance
There are usually three remittance methods: telegraphic transfer, sight draft and letter transfer. Due to the rapid development of electronicization, remittance is mainly carried out by telegraphic transfer.
Telegraphic transfer, commonly known as "T/T", means that the importer entrusts the bank to pay the money to the payee by attaching a telegram or telex, which is quick and simple. The remittance business in the future generally refers to telegraphic transfer.
Four. Remittance business process
Verb (abbreviation of verb) preventive measures
As a domestic payee, if you want to receive the money faster, you should prompt the overseas remitter to fill in the remittance application form according to the following requirements:
1. Fill in the payee's full name, account number (the remittance line number of the payee's bank must be indicated) and the full name of the bank in English.
2. If an enterprise handles remittance at an overseas bank, it shall fill in the name of the overseas bank corresponding to the bank in the INST column in the middle of the remittance application receiving bank. Bank account information can be inquired from the bank.
3. The payee's bank name should be accurate, and it is best to have the bank SWIFT number.
4. The name of the payee is called the bank name.
5. Payee's account number: account number: XXXX (fill in the relevant account number of the overseas bank with the corresponding currency).
6. The actual payee's name and account number should be indicated in the remarks or postscript (payee's account number must be line number+payee's account number, account number: XXX-XXXXXXXXX).
Cases of intransitive verbs
1. When a customer remits money in Hong Kong, the overseas bank in Hong Kong acts as an overseas agent to remit Hong Kong dollars, and the domestic commercial bank in Shanghai acts as a payee. The filling method is as follows:
Name of payee's bank agent: * * Bank, Hong Kong BR
(intermediary INST. ) (Chat number * *)
Payee's bank name: * * Bank, Shanghai Branch. (swift added: * * *).
Name of payee: * * Bank, Shanghai
Payee account number: (HKD account number. ): * * *
Remarks or postscript: the actual payee's name and account number should be indicated (payee's account number must be line number+payee's account number, account number: * * * *-* *).
2. If the remitter remits US dollars in Hong Kong or outside Hong Kong with Bank of America new york as an overseas agent account, the filling method is as follows:
Name of correspondent bank of beneficiary bank: Bank of America new york Branch.
Payee's bank name: * * Bank, Shanghai Branch. (swift added: * * *).
Name of payee: * * Bank, Shanghai
Payee account number: (USDA/CNo. ): * * *
Remarks or postscript: the actual payee's name and account number should be indicated (payee's account number must be line number+payee's account number, account number: * * * *-* *).