Service Summary

Remittance is a settlement means by which the bank (the remitting bank) pays at the remitter's commission to the nominated remittee. It may be categorized into telegraphic remittance and mail remittance.

Telegraphic remittance refers to that the remitting bank, at the request of the remitter, delivers a payment instruction by telegraph or telex to the paying bank, directing the paying bank to make payment to the remitee according to the payment instructions.

Mail remittance, on the other hand, means that the remitting bank, at the request of the remitter, delivers the M/T advice by mail through the post agencies to the paying bank.

Features

•  Simple handling procedure to facilitate especially non-local settlements.

•  No threshold in amount.

•  Real-time arrival for remittance between accounts within CIB system.

•  Greatly shorten the remitting time for inter-bank remittance by way of the modern receipt and payment system of the PBOC or the nationwide electronic inter-bank system.

Business Processing

Please fill in the remittance certificates correctly and clearly, including name and address of the beneficiary, name and address of the remitter, amount of the remittance, etc..