For cross-border e-commerce, electronic remittance is very important. Sometimes it will be very troublesome if some small details are not handled well, such as when writing the details of the remitter and payee. It must be written according to the format, otherwise the payment will not be received. Today we will learn how to write the name of the payee of cross-border wire transfer and the relevant precautions for cross-border wire transfer.
How to write the name of the payee for cross-border wire transfer?
The payee’s full English name and payment account number must be completely filled in in the Payee Name column. If you are remitting money to the EU, you must provide the IBAN number as the payee’s account number. In addition, customers cannot fill in some illegal characters on the application form, such as @ # $ % & * ” etc. If there are characters like &, they can be replaced by AND. Payee’s account number There are no unnecessary characters such as slashes, spaces or dashes.
Notes on cross-border wire transfer operations
There are many common problems during the remittance process. Do you need to write the payee’s address? According to the regulations, the payee’s address is required for remittances in British pounds and Canadian dollars. If the payee requires it, then you can leave it blank.
Second, is the IBM number the payee’s account number? The first two digits of the IBAN number are the country code of the account, the next two digits are the check number, the middle is the beneficiary bank code, and the last part is the basic number. Account number. The use of IBAN can completely improve the pass-through rate of cross-border payments. All payments of EUR to EU countries must use an international bank account number. In Euro payments, the payee’s old account number is usually used. It will be fully included.
Thirdly, how to fill in the remittance postscript? This column needs to be filled in English, indicating the purpose of the remittance, etc., which will also make it easier for the recipient to verify. English and Arabic numerals must be used when filling in. Anything else will be deemed invalid.
For cross-border e-commerce, every column is very important when filling out the electronic remittance application form. Yes, if you are not sure, you can also read the rules online and fill them out to be more secure.