Note: Please call your local 95588 directly to check the name, address and swift code of the payee's bank. SwiftCode is "SWIFT CODE of SWIFT". As the payee, our bank does not charge any formalities fees to the payee.
Remittance belongs to forward remittance, which is a settlement method in which the debtor or payer deposits the money into the bank on his own initiative and entrusts the bank to pay a certain amount to the foreign creditor or payee by using a certain payment instrument. Money sent back between banks or across regions. Remittance includes three types: letter transfer, wire transfer and draft.
Extended data
operation flow
1. The main parties of remittance business are the remitter, the payee, the remittance bank and the collecting bank. Its business process is: the remitter submits a remittance application form to the remitter, and the remitter informs the remitter in some way (such as SWIlVr, telex, draft, etc.) according to the instructions of the application form, and the remitter will distribute the remittance to the payee.
The specific procedures of telegraphic transfer and money order remittance are different. The process of telegraphic transfer and remittance is as follows: the remitter fills in the remittance application form and pays the remittance to the remittance bank; The remitting bank will remit the money to the remitting bank by additional telex or SWIFT; The remittance bank remits the remittance to the payee.
3. The remittance process of bill remittance is as follows: the remitter fills in the "remittance application form" and pays the remittance to the remittance bank; The bank issues a bank draft to the remitter; The remitter gives the bank draft to the payee; The payee submits the bank draft to the remittance bank (remittance bank) and remits the remittance to the payee.
risk control
1. Banks should meet the qualification requirements for handling foreign exchange remittance business?
(1) is qualified to engage in foreign exchange business. As foreign exchange remittance business belongs to the category of foreign exchange business, banks must have access to foreign exchange remittance business. Article 3 of the Administrative Regulations on Access and Exit of Bank Bill Business compiled by the Foreign Exchange Business Consulting Department stipulates the access conditions that banks applying for issuing bank remittances should have.
2. Improvement and review of legal documents
(1) The legal documents involved in foreign exchange remittance mainly include remittance application, payment notice, draft, etc. When banks handle foreign exchange remittance business, the legal documents provided are generally made by banks and belong to standard contracts.
(2) Therefore, for banks, it is an important aspect for banks to guard against legal risks by improving relevant legal documents, ensuring that the relevant provisions comply with the provisions of laws and regulations, and ensuring that the provisions on the rights and obligations of both parties are comprehensive and equal. This kind of legal risk should be controlled mainly by improving the terms of legal documents, strengthening the examination of legal documents and doing a good job in internal legal review.
(3) On the basis of standardizing legal texts, banks should strengthen the review of remittance instructions. The contents of remittance instructions must be clear, accurate and standardized. At the same time, banks should keep abreast of international sanctions information to prevent the risk of violating the economic sanctions orders of relevant international organizations or countries. In addition, banks should actively guard against the transmission risk of remittance instructions and ensure that remittance instructions are accurately delivered to remittance banks.
(4) To handle foreign exchange remittance by draft, the remitting bank needs to issue a bank draft to the remitter. Due to the formal and literal characteristics of a bill of exchange, the production of a bill of exchange must have legal elements. The occurrence and existence of the rights of a bill of exchange depend on the legal matters recorded in the bill of exchange, and the rights and obligations on the bill of exchange are only determined by the literal meaning recorded in the bill of exchange. No participant in a bill of exchange may change or supplement its literal meaning in any way other than the bill of exchange, so as to change the rights and obligations expressed by the literal meaning.
References:
Baidu encyclopedia-foreign exchange remittance