T/T is the most common way of remittance. Direct remittance of money to the other party's account, the bank will charge a certain fee. It takes 3-5 days to arrive at the account, and the remittance will be directly remitted to the other bank account.
Advantages: How many service outlets are there in major banks? Disadvantages: The procedure is relatively complicated. To fill in the purchase order and remittance order, both parties need to open a bank account in a bank with telegraphic transfer business, and the amount exceeding US$ 2,000 needs to be approved by the foreign exchange supervision department.
In addition to RMB remittance fee, the remitter has to bear higher telex fee and overseas agent transfer fee.
Remittance by draft is a common traditional remittance method. Banks draw drafts at home, and overseas recipients withdraw money or transfer money at designated banks abroad with their passports and drafts.
Advantages: the payee can endorse the negotiable instrument; Charges are cheaper than telegraphic transfer: banks usually charge RMB handling fee of 65438+ 0‰ of remittance amount.
Disadvantages: mailing, late collection time (which will affect the speed of fund withdrawal), easy to lose, damage or forge, low security and troublesome procedures. If you can't handle the draft abroad for various reasons, it's easy to delay things.
Extended data:
Other remittance methods from the United States to China:
1. Send a personal check-the most economical way, but it takes a long time. You can use any bank check. On the check, the payee should write Pinyin, and the Chinese name should be written on the memo, or the payee's ID number can be written. ?
The payee shall handle the collection at any foreign exchange bank in China with his ID card. The handling fee is about 20-40 yuan RMB. It will take about 1 month, and the bank will call to inform the collection. After the account is received, it is foreign exchange, and the payee can withdraw RMB or US dollars. ?
2. In the United States, the deposits of China Bank go into the domestic China Bank account. Usually, telegraphic transfer can arrive within 24 hours. After the account is received, it is foreign exchange, and the payee can withdraw RMB or US dollars. Up to $2999, expenses: T/T $20, postal remittance $ 10.
Write a check, fill in the form, fill in the China bank account number accepted by China and the name and address of the other party, and provide the relevant certificates required in the form. The handling fee will be deducted directly from the total amount of your check.
In American local banks, telegraphic transfer can usually be received within 24 hours. After the account is received, it is foreign exchange, and the payee can withdraw RMB or US dollars. Take a photo ID card and provide the following information to the local bank in the United States:
Payee's name, SWIFT code, bank name: bank of China xxxx branch account number, bank of China new york branch chip code: 0326.
The payee can obtain the SWIFT code, bank name and account number. This method is suitable for large remittance. The bank handling fee in the United States is generally $65,438+$05-30, and China Bank new york Branch is $65,438+$00. ?
4. Use Citibank's ATM card to withdraw money from Citibank ATMs in Beijing, Shanghai and other places for free. ?
5. Use a debit card to withdraw money from ATMs (with Visa or MasterCard logo) of banks such as Bank of China, Bank of Communications and ICBC. ?
The handling fee of BOC is 3%, and other banks need to be verified. There is no charge for all online banks to use ATMs from other banks, but other banks may. Some online banks will refund ATM fees (up to $6 per month), such as FirstIB and Netbank, which means that ATMs of other banks can be used for free.
References:
Baidu encyclopedia-western union remittance