What does electronic withdrawal mean?

Withdrawal refers to the process of returning the funds paid into the state treasury to the original payer or payer after approval for special reasons.

In the process of electronic withdrawal, the national treasury will review and approve the application for withdrawal according to relevant policies and regulations. If the application meets the requirements, the state treasury will return the corresponding funds to the original payment unit or the account designated by the payer by electronic means.

Electronic refund is an efficient and accurate refund method, which can better meet the refund needs of enterprises and individuals and promote the flow and compliance of funds.