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2024-2-28

Remittance? Wait a moment

When remitting funds from the HQ to Subsidiary in China, the following should be noted when filling in the remittance information:


1.  Name of the payee.  The payee’s English name must be the full English name left in its Chinese bank.

Some companies might think that sometimes I just write not a fully name in English, but still can receive the money.  But please note that, sometime this situation might be stucked by the bank system, then the money shall can’t receive as normal, so we have to strictly follow the rules every time we remit money.  Otherwise, it will delay the payment.  If meet this problem, how to solve it quickly?  The receiving bank will send a message to the remitting bank and wait for the remitting bank to reply to the message.  Alternatively, to save time, you can directly ask the remitting bank send a corrected message directly to the receiving bank.


2.  The name of the payer in the invoice.  The payer name shall be the same as the name of the payer in the remittance sheet.

In order to allow overseas remittance to be received in its bank account as early as possible, please check the relevant information of the recipient carefully before remittance.


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