Telegraphic transfer is a widely used remittance method at present. Its business process is as follows: first, the remitter applies for wire transfer and pays the remittance to the remitting bank, then the remitting bank sends a telegram or telegram to the remitting bank, and the remitting bank sends a wire transfer notice to the payee. After receiving the notice, the payee pays at the bank, and the bank cancels the payment. After the payment is completed, the remittance bank sends a deduction notice to the remittance bank, and at the same time, the remittance bank sends a remittance receipt to the remitter.
When telegraphic transfer, the remitter should fill in the remittance application form, and indicate the telegraphic transfer method in the application form. At the same time, the remittance and the required expenses will be remitted to obtain a wire transfer receipt. After receiving the remittance application, the remittance bank should carefully examine the application and contact the remitter in time if there are any mistakes.
When handling telegraphic transfer, the remitting bank sends remittance instructions to the remitting bank by telegram or telex according to the contents of the remittance application. The contents of the message mainly include: remittance amount and currency, payee's name, address or account number, remitter's name, address, postscript, position allocation method, remitter's name or SWIFT address, etc. In order for the remitting bank to confirm that the contents of the message are indeed sent by the remitting bank, the remitting bank should add the mutually agreed Testkey before the text.
After receiving the telegram or telex, the remitting bank should check whether the password is consistent. If it is not, it should immediately draw up a telegram to inquire with the remitting bank. If so, a wire transfer notice will be prepared immediately to inform the payee to withdraw money. The payee draws money from the remittance bank with the notice in duplicate. After the payee signs for it, the remittance bank pays the remittance accordingly. In practice, if the payee has an account in the remittance bank, the remittance bank often does not prepare remittance notice, but only receives the money into the payee's account by telegram, and then gives the payee a receipt notice, and the payee does not need to sign the receipt. Finally, the remittance bank sends the debit memo to the remittance bank.