The most common methods are these three:

Remittance:

"Remittance" is also called "remittance" - the payee (importer) passes A settlement method in which the bank uses a certain payment instrument to deliver the payment to the payee (exporter). The payer transfers the money to the payer through the bank. There are four parties: the remitter, the payee, the remitting bank, and the remitting bank.

There are three ways to remit money: wire transfer, letter transfer and draft transfer.

Collection:

Collection (entrusted collection) - a method in which the exporter entrusts the bank of the importing place to collect payment on its behalf through the local bank.

Collection belongs to commercial credit. When banks handle collection business, they neither have the obligation to check whether the shipping documents are correct or complete, nor do they assume the responsibility of the payer to pay. Collection involves four main parties, namely the principal, the payer, the collecting bank and the collecting bank.

Similarly, collection can be divided into two methods: clean collection and documentary collection.

Letter of credit:

A letter of credit is a written document issued by a bank with a conditional commitment to pay. A written document that requires and instructs or makes payment on its own initiative to a third party (beneficiary) or its designated party based on specified documents and subject to the terms of the letter of credit.

In nature, letter of credit settlement is first of all a kind of bank credit, and the issuing bank uses its own credit as a payment guarantee. The issuing bank guarantees that payment obligations will be fulfilled when the beneficiary submits documents that comply with the terms of the letter of credit within the time limit specified in the letter of credit. This is different from the commercial credit nature of remittance and collection settlement methods, so it is more secure than remittance, collection settlement and collection.

At present, global information is becoming more and more convenient. The most popular ones are to directly open multi-currency accounts and handle remittances, exchanges, and transfers by themselves, such as CBi Bank of the United States, Shenzhou Pay, etc.