T/t remittance bank will notify the local remittance bank of the payee by telex after accepting the entrustment of the remitter, and entrust it to remit a certain amount of money to the designated payee. T/T is the most widely used of the three remittance methods, because it is quick to pay. However, the cost of telegraphic transfer is higher than that of the following remittance due to the short time for banks to use funds in transit.

Mail transfer Remittance means that the remitter delivers the local currency to the local bank, which issues the payment authorization and sends it to the foreign branch or correspondent bank by airmail to handle the foreign exchange payment business. Through telegraphic transfer, banks have the opportunity to use funds because it takes longer than telegraphic transfer, so the exchange rate of telegraphic transfer is lower than that of telegraphic transfer, and the difference is equivalent to Yu Xinhui's interest.

The difference between remittance by letter and telegraphic transfer is that the remittance bank sends the payment commission to the remittance bank by air, so the remittance speed is slower than that of telegraphic transfer. At present, European banks no longer handle transfer business because there are many manual procedures for transfer.

Ticket remittance:

Sight draft (bank sight draft presentation).

A way to exchange remittance voucher for cash in China today. That is, the unit that accepts the bill (bank or post office) sends the remittance slip filled out by the remitter to the payment unit, and the payment unit then notifies the payee to collect the money.