What are the international remittance methods?

There are wire transfers, drafts, and credit cards.

Telegraphic transfer is also an electronic remittance. International wire transfer charges are higher, but the arrival speed is fast, so it is suitable for urgent remittance business; draft remittance is to take bills abroad by mailing or carrying them with you. , used as a voucher to handle foreign exchange payments or withdrawals, which is safe but slow; dual-currency credit card withdrawals, credit cards cooperated by UnionPay and VISA, [PLUS] or MasterCard, can withdraw money at any time abroad, which is convenient and fast.

Extended information:

Bill remittance refers to a bank demand draft (Banker's draft) issued by the remitter's branch or agency on behalf of the remitter at the remitter's request. 'sDemandDraft), a remittance method that pays a certain amount to the payee.

When a bank accepts draft business, it needs to issue a draft to the remitter and send a draft advice to the remitting bank. When the payee holds a bill of exchange to withdraw money from the remittance bank, the remittance bank will pay the payee after verifying that the bill of exchange and the invoice are correct. Apart from this, other procedures for draft remittance are basically the same as wire transfer and letter remittance.

When a bill of exchange is refunded, the remitter should submit a written application and return the original bill of exchange (which should be endorsed). After the remittance bank has verified that it is correct, a "cancellation" stamp will be stamped on the bill and the refund will be processed. Remittance procedures. The returned bill will be attached as an attachment to the refund summons, and the remittance bank will be notified to cancel the return bill.

Bank sight draft is used as the settlement tool for bill exchange. Its sending direction is the same as the direction of fund flow, so it is also a kind of smooth remittance. The difference between drafts and wire transfers and mail transfers is that drafts are not transmitted through banks. The bank of remittance does not need to notify the payee, but the payee comes to withdraw the money with the draft; except for those with restrictions on transfer and circulation, drafts must be collected by the payee. If endorsed by a person, it can be transferred and circulated, but a power of attorney for letter money cannot. China's money order is one of them.

Bill remittance has two characteristics: first, the remitting bank does not need to notify the payee to withdraw the money, and the payee comes to collect it; second, the payee can transfer the bill through endorsement, so he can collect it at the bank. The person remitting the money may not be the payee listed on the money order, but someone else. In this way, draft transfer may involve more parties than wire transfer and letter transfer.

In international trade practice, importers and exporters are often paid by draft for commissions, rebates, consignment payments, small samples and prototypes, exhibit sales and claims.

In addition to payment orders and bank drafts, spot foreign exchange vouchers also include commercial drafts, checks, traveler's checks, etc.

It is very convenient to transfer money directly to the ICBC visa credit card.

With ICBC’s visa card, you can use ICBC’s debit card to transfer money. If the cards are all issued locally, the transfer is free. You can also use ICBC's debit card to transfer funds using other banks' visa cards, but there are fees.

Transfer money abroad.

1. To use the MoneyGram business, ICBC cooperates with American Express, and the ICBC account number, account name, account bank name and SWIFTCODE are enough. But you should go to the American Express processing point.

2. To use wire transfer business, larger banks such as Bank of New York, Chase, Citigroup, HSBC, etc. also require his ICBC account number, account name, account bank name and SWIFTCODE, as mentioned above. You should be able to make remittances at the bank's counter.

3. Find an ICBC in the United States and use ICBC’s express remittance service. Ask for his ICBC account number, account name, and account opening bank name. This should be the fastest.

4. Or use Western Union to remit money. You can remit money by opening an account at the post office or the Agricultural Bank of China in China

Can I use wire transfer for credit card repayment?

Yes, absolutely No problem. After filling in the account name, amount, and full name of the credit card bank, you can make a wire transfer.

How to make a wire transfer using a credit card

Wire transfer using a credit card is a cash withdrawal, and you will need to pay a cash withdrawal fee and daily interest. If you are not in this city or province, you will also need to pay a remittance fee

The method of wire transfer is the same as that of an ordinary bank card. All you need is the name of the other party.

Can I use a credit card to purchase foreign exchange?

Yes.

One of the great advantages of applying for a foreign currency credit card is that you do not need to transfer large amounts of funds to a bank account in the United States. If you do so, you will be charged a large wire transfer fee.

You can even return it on your behalf. And since it is just a credit card repayment, it does not occupy the annual foreign exchange purchase limit of US$50,000, which is also an additional benefit.

CITIC Credit Card Dual Currency Card supports wire transfer

Yes. CITIC Credit Card dual-currency cards all support wire transfers. Credit cards refer to credit payment tools provided by banks and other financial institutions to their customers with functions such as consumer credit, transfer settlement, and cash deposits and withdrawals.

This concludes the introduction to credit card wire transfers and credit card wire transfer fees. Have you found the information you need?