1. Real-time transfer: the other party can receive the payment after the submission is successful, and it cannot be cancelled without time difference.
2. Ordinary transfer: after submission, the payee will not receive the money immediately, but will generally receive it within 2-3 working days, and it is impossible to withdraw cash.
Extended information (1) The name of the payee of foreign exchange remittance must be the same as the name of the remitter, or be the immediate family member of the remitter. If the payee's name is different from the remitter's name, the proof that the payee and the remitter are immediate family members must be produced. "Immediate family members" include "spouse, father (mother) and son (daughter)". The certificate is as follows:
If the payee and the remitter are in the same household register, they shall show their household register; If the payee and the remitter are not in the same household registration book, they shall present the notarization or authentication documents issued by the notary department or the police station and other authorized institutions to prove that the payee and the remitter are indeed immediate family members.
(2) The nature of foreign exchange remittance collection account and payment account in the same city must be the same, that is, "bank to bank, remittance to remittance", that is, "the nature of banknotes and remittances before and after the transfer of funds remains unchanged".
Baidu Encyclopedia-Inter-bank transfer and remittance