the most common business types of cross-

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Settlement of foreign exchange refers to the process of converting foreign exchange in a foreign currency account of a domestic bank into RMB. This process requires submitting a settlement application and providing relevant documents and supporting documents. There must be a real transaction background, otherwise there is a risk of money laundering. After the bank has reviewed it correctly, it will convert foreign currency into RMB. Purchase of foreign exchange refers to the process in which residents or enterprises purchase foreign exchange from banks and banks convert RMB into foreign currency. In this process, you need to submit an application for foreign exchange purchase and provide relevant supporting documents and explanation of purpose.



The amount of a single person within 10,000 US dollars israel phone number format belongs to the facilitation quota. Remittance payment refers to the entire process of purchasing foreign exchange and using it to make overseas payments. During the remittance operation, the foreign exchange funds go from domestic to overseas. Generally speaking, only when domestic enterprises or individuals need to purchase overseas goods or services do they need to pay remittance overseas. Common scenarios include overseas shopping, studying abroad, remittances from relatives and friends, etc. Intermediary bank agent bank Intermediary bank is a financial institution that provides a bridge for fund transfer and conversion payment during the payment process.



For example, if the remitting bank and the receiving bank do not have direct business dealings, the intermediary bank will act as a third party recognized by both parties as a transit. Generally speaking, the intermediary bank will charge a certain fee of about -. Agent bank refers to a bank that establishes current accounts with other countries and acts as an agent for the other party's business to provide services to the other party.Agent banks need to open agent clearing accounts to meet the requirements of fund clearing. For example, a bank in a country wants to participate in the clearing network of a country but is not a member of other countries, so it entrusts a member bank of the country's clearing network to conduct clearing and settlement on its behalf and open a clearing current account in the bank.