When Iraqi remits USD 1 000 to China, how much handling fee will the intermediary banks deduct, and which intermediary banks will deduct it?

1. Cross-system foreign exchange collection abroad will generate transit fees.

2. USD passes through new york USD Settlement Center and EUR passes through Frankfurt Center.

3. The cost of job-hopping is related to the distance between the receiving bank and the paying bank.

4. Deduction fee for remittance from European and American countries to China: USD 40-50. Deduction fee for remittance from Asian countries: 20-30 USD. Therefore, when the remittance does not attach the actual collection amount, it is actually a deduction for the transfer.

It is estimated that $47 will be deducted from the 1000 remitted from Iraq to China.

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