Overview of International Credit Cards International credit cards are cards issued by members (banks) of international payment organizations. The cards can be used to sign accounts at the organization’s designated merchants. As we all know, the three major international payment organizations are VISA, MasterCard, and JCB. Among them, VISA has the highest market share, followed…
International credit cards are actually the credit cards that can be used on international lines such as VISA and MasterCard, which are well known to cardholders. With this kind of credit card, you can pay for purchases or shop online in places around the world that support the VISA and MasterCard networks. If you need…
Time required for international wire transfer Only banks that are connected to the national network can transfer money in real time when making a remittance. The handling fee charged by each bank for handling remittance is different. The Industrial and Commercial Bank of China charges 1%, with a maximum of no more than RMB 50;…
A paying bank is a bank that accepts the commission of the remitting bank and pays the remittance to the beneficiary. It is also called a paying bank. The paying bank should pay attention to the following matters when paying the remittance. (1) The payment of the remittance must be handled strictly in accordance with…
A remitting bank is a bank that accepts the remitter’s entrustment to handle outward remittance business. In international trade, it is usually the bank at the importing place. From the moment the remitting bank accepts the remittance application, the contractual relationship and effectiveness between it and the remitter are established. The remitting bank shall handle…
1) Notification of L/C If the L/C is opened by telecommunication, the issuing bank will send the telecommunication documents directly to the notifying bank, which will verify the seal and inform the beneficiary in the form of advice of L/C. If the L/C is opened by mail, the issuing bank will generally send the L/C…
Prepayment refers to a settlement method in which the buyer (importer) first remits all or part of the payment to the seller (exporter) through the bank. After the seller receives the payment, it will ship the goods to the importer within a certain period of time or immediately according to the contract signed in advance…
Since my country is a country with foreign exchange control, the remitter must also submit relevant documents to the bank for review when remitting the remittance according to the requirements of my country’s State Administration of Foreign Exchange. Remitting the expenses of commercial performances of foreign actors in China: submit the reply of the cultural…
According to whether the payment method is guaranteed, checks can be divided into ordinary checks, crossed checks and certified checks. 1) Ordinary checks An ordinary check (uncrossed check) refers to a check that can be used to withdraw cash or bank transfers. In my country, an ordinary check refers to a check that does not…
The remitter refers to the debtor, usually the importer in international trade. When the remitter entrusts the remitting bank to handle the remittance, he should pay attention to the following matters. 1) Fill in the formatted application provided by the remitting bank The remittance application is a contract between the remitter and the remitting bank.…