Personal foreign exchange settlement in advance is a special remittance case of "wire transfer", which means that the remitter can convert the remitted foreign currency funds into RMB and remit them to the payee at the designated exchange rate of ICBC's foreign exchange settlement in advance on that day.
Features and advantages:
The money remitted by the remitter himself is in foreign currency, and the payee borrows RMB. The payee of this business has an account at a domestic bank outlet and can receive overseas RMB remittance at the first time. It not only locks the exchange rate risk of the payee, but also avoids the trouble of the payee going to the bank counter to handle the settlement procedures.