Telegraphic transfer refers to a remittance method in which the remitter, upon application by the remitter, sends a telegraphic message, telex, or SWIFT to a branch or agent bank in another country (i.e. the remitting bank) to instruct the remitter to pay a certain amount to the payee.
A letter of credit refers to a written document issued by a bank (issuing bank) to make payment to a third party (beneficiary) or its designated party in accordance with the requirements and instructions of the applicant, or on its own initiative, and in compliance with the terms of the letter of credit.
It refers to a settlement method in which the collecting bank must pay the importer in full before handing over commercial (freight) documents to the importer. (This risk is extremely high, and we generally do not use it)
Western Union has the world's largest and most advanced electronic remittance financial network, and its agency branches are located in nearly 200 countries and regions around the world. China Everbright Bank, China Postal Savings Bank, China Construction Bank are partners of Western Union Remittance in China. It will take approximately 15 minutes to pay using this method. It will take approximately 15 minutes to pay using this method.
PayPal is very safe and fast, providing flexible choices for transfers, payments, or receipts, and helping individuals and businesses participate in the global economy and achieve success. But when transferring funds using this payment method, PayPal charges a certain amount of handling fee.
MoneyGram is a global fast remittance service for individuals, which can complete the remittance process from the remitter to the payee in more than ten minutes, and has the characteristics of being fast and convenient.
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