T/T refers to the remittance method that the bank instructs the correspondent bank to pay the money to the designated payee by telegram, telex or SWIFT. Wire transfer is a kind of wire transfer, which is widely used in practical business because of its fast remittance speed, and its bank handling fee is higher than that of bill transfer. In addition to the remittance fee, you also need to charge the corresponding telecommunications fee.

medium

Bill remittance: Bill remittance is a remittance method in which the remitting bank issues a spot bank draft on behalf of the remitter at the request of the remitter, and the d/d agent of the bank pays a certain amount to the payee. Remittance by draft is a way for importers to buy bank drafts from banks in the place of import and send them to exporters, so that exporters can withdraw money from banks designated by the drafts. The remitting bank issues the bank draft, sends a "payment notice" to the remitting bank, and the remitting bank reviews the draft before making payment.

slow

Mail transfer: the customer entrusts the money to the bank, and the bank remits the money to the local bank of the payee designated by the customer and forwards it to the payee. This method of remittance is very slow, and now customers demand less.