It refers to the service that our branch authorize, entrusted by the remitter, an overseas affiliated bank or a correspondent bank to pay a certain amount of money to the specified beneficiary in the agreed method of remittance. The service is used for international settlement of fund transfer & remittance. Methods of remittance include telegraphic transfer, mail transfer and draft transfer, among which telegraphic transfer and draft transfer are more frequently used now.

Advantages:

1. Low cost. Compared with L/C and collection, remittance is characterized by simple procedures and low cost.

2. Fast processing. Telegraphic transfer is fast and enables exporters to collect payments timely and accelerate capital turnover.

3. Simple operation. It is simple to process and widely used.