At present, there are three mainstream ways of remittance from abroad to China, and the materials required by each mainstream channel are different.
I. Bank telegraphic transfer
It is best to choose overseas branches of domestic banks, which can save the transfer steps of intermediate transfer banks. This can save time and cost, because every family will deduct a part of the handling fee when doing secondary vocational school. Bank wire transfer usually takes 2-3 working days to arrive. Take BOC Australia as an example, the remittance is less than 5,000 Australian dollars, and the single handling fee is 32 Australian dollars each. However, domestic banks have limited outlets in Australia, so it is a bit inconvenient to remit money to China. For bank wire transfer, you need to fill in the wire transfer application form at the bank counter. This information includes: remittance currency and amount, payee's name and address, payee's bank, swift code and bank card number.
Second, Western Union remittance.
Compared with bank remittance, the coverage of Western Union remittance network is dense. However, there is a limit on Western Union remittance, and the operation is a bit troublesome. Send and receive forms need to be filled out. But the exchange rate offered by Western Union is much worse than that offered by banks. Western Union remittance takes half a day to arrive quickly and three days to arrive slowly.
1. Fill in the "money order" on the Western Union remittance cooperation network.
2. Submit the completed form, payment, remittance fee and personal identification documents.
3. After the remittance is completed, you will receive a receipt with money transfer control number (MTCN).
4. Inform the payee's name, remittance amount, MTCN and remittance country/region.
Third, Panda Express.
Unlike traditional cross-border remittance methods such as banks and Western Union, Panda Express saves the bank transfer link and directly connects the remitter and the payee, which can be reached in three minutes. Remittance can be easily completed by mobile phone, eliminating the trouble of waiting in line, and online 7*24 hours. In addition, there are not many offline stores of Panda Express, which saves a lot of offline operating expenses, so the handling fee is much cheaper. At present, Panda Express adopts a single fixed fee model. Take Australia as an example, with a single limit of $4,000 and a transaction fee of only $5.99, it can be said that it is the most affordable personal remittance method at present. Information required by Panda Express:
1, basic information of the sender, residential address, passport or Australian driver's license, etc.
2. Payee's ID card: Chinese mainland second-generation ID card.
3. Bank card: The remitter must hold a debit card issued by the bank in the host country;