Credit card is not a collection business, but the name of the credit card.
Extended data:
T/T was first established by Western Union at 1872. In the initial telegraph transmission, information was transmitted through the telegraph network. The payer should pay the money to the local telegraph office, and the staff will send the encrypted information to the telegraph office where the payee is located by telegram, so that the payee can withdraw the cash. Because it was sent by telegram, it was named telegraphic transfer, which is still in use today.
T/T, as its name implies, is an electronic payment method. There is no cash flow of the entity in the transaction, and the remitter pays the remittance amount and payee information to the institution. After receiving the transaction information, the payee directly deposits it into the payee's bank account or notifies the payee to withdraw cash. T/T is mainly applicable to domestic large-sum remittances and overseas remittances, with high timeliness. Both banks and non-bank institutions can initiate wire transfers, such as Western Union, Xoom, Transferwise, MoneyGram, OFX, etc.
Basic knowledge of wire transfer
Routing number
The routing number, also known as AB number and Swift number of the United States, consists of 9 digits (8 digits content+1 digit check code). Routing numbers are only used in the United States. It was proposed by the American Banking Association and supervised by the Federal Reserve. Identification codes used to identify different financial institutions. For wire transfer in the United States, if it needs to be remitted to the payee's bank, it needs to provide the routing number information of the payee's bank.
fast
The full name of SWIFT is the Society for Worldwide Internet Bank Financial Telecommunications, which is a network for financial institutions to transmit transaction information, replacing the aforementioned telegraph information transmission network and widely used in international transfers. SWIFT assigns an identification code to each financial institution, which is called business identification code (BIC), and generally consists of 8 digits or 1 1 digit. For example, Chase's SWIFT BIC is CHASUS33, and China Industrial and Commercial Bank's SWIFT BIC is ICBKCNBJBJM. The specific representatives of SWIFT BIC have the following meanings:
The first four digits are financial institution prefixes (CHAS stands for Chase, ICBK stands for Industrial and Commercial Bank of China Commemorative BNAK).
The last two digits are the country code (US stands for the United States and CN stands for China).
The next two are suffixes of financial institutions, which generally represent locations/cities, with exceptions.
The last three digits are optional codes used to identify different branches of the same financial institution.