What does exchange mean? What does bank exchange mean

Remittance is a settlement method in which the remitter entrusts the bank to pay its money to the payee. There are two types of remittance: telegraphic transfer and mail transfer, which are chosen by the sender. Units and individuals can use the method of exchange settlement for the settlement of various payments.

This method is convenient for the remitter to take the initiative to pay the beneficiary in another place, and the scope of application is very wide. In a nutshell, exchange is the entrustment of a bank as the payer to make the payment.

According to the different methods of transfer and the different transmission methods, the exchange can be divided into two types: mail transfer and telegraphic transfer, which can be chosen by the remitter.

Of the two types of exchange settlements, the cost of the transfer is lower but the speed is relatively slow, while the transfer has the advantage of being fast, but the sender bears the higher cost of telex and is usually only used in emergency situations or when the amount is larger. In addition, in order to ensure the authenticity of the telegram, the remitting bank will add the password agreed upon by both parties on the telegram; On the other hand, you don't need to add a password for the letter transfer, you can sign it.

Extended Materials. The simple exchange process goes like this:

Select a remittance method:

Remittance to the beneficiary's address is called address remittance. This method of remittance requires the sender to write down the specific address of the recipient, the name of the recipient, the amount of money to be sent and the zip code of the recipient's location. The payee's name must match the name on his ID card, otherwise, the payment will not be made.

This method of remittance is the slowest of the four, but it will take you to the local post office where the recipient is located. Slow mainly means that the payee's local post office is slow to transmit, and the printed withdrawal notice can be delivered to the payee within a week at the latest. The remittance fee is charged at 1,100 yuan of the remittance amount, with a minimum of $2 and a maximum of $50.

Remittances of more than 10,000 yuan must be handled with your ID card.

Remittance according to the beneficiary's account opened at the Postal Savings Bank is called inward remittance. This method of remittance requires the sender to write down the beneficiary, name and amount of remittance. It must be opened by the Postal Savings Bank, and the name must be the same as the name on the account, and it cannot be remitted if it is inconsistent, so there is no need to worry about the wrong remittance.

Moreover, it arrives in real time. The remittance fee is relatively cheap, charged at 5,1000 yuan of the remittance amount, with a minimum of $2 and a maximum of $50. Remittances of more than 10,000 yuan must be handled with your ID card.

Exchange settlement refers to a settlement method in which the paying unit entrusts the bank to remit the money to the receiving unit or individual in other places. Bank exchange is a settlement method in which the remitter entrusts the bank to pay the money to the recipient. There are two types of remittance: telegraphic transfer and mail transfer, which are chosen by the sender.

Units and individuals can use the method of exchange settlement for the settlement of various payments.

Exchange is a settlement method in which the remitter entrusts the bank to pay the money to the payee.

In the vernacular, exchange means giving the money you want to call the other party to the bank, and letting the bank call the other party (the enterprise).

Remittance, out. Redeem, give. Note: Not necessarily.