1. telegraphic transfer application: the remitter applies for telegraphic transfer from his own bank or other financial institution, and fills in relevant transfer information, including the remitter's name, account number, payee's name, account number, remittance amount, remittance purpose, etc.
In a word, telegraphic transfer is a convenient, safe and fast payment method, which is suitable for large remittance, cross-border remittance and other scenarios. Understanding the definition and operation process of telegraphic transfer can help us to use this payment method better and improve the efficiency and security of payment.
2. Bank confirmation: After receiving the wire transfer application, banks or other financial institutions will verify the identity information and account balance of the remitter to confirm the authenticity and legality of the remittance application.
3. Fund transfer: It usually takes several working days for a bank or other financial institution to transfer the remitter's funds from its account to the payee's account.