The ways of remittance can be divided into

remittance methods can be divided into:

1. Remittance refers to a remittance method in which the remitting bank sends the remittance payment power of attorney to the remitting bank at the application of the remitter, and authorizes the remitting of a certain amount to the payee. The advantage of remittance by letter is that the cost is relatively low, but the payee receives the remittance later;

2. telegraphic transfer. T/T refers to a remittance method in which the remitting bank, at the application of the remitter, sends a power of attorney for T/T payment to the remitting bank by means of telecommunication such as SWIFT, instructing to remit a certain amount to the payee. The advantage of telegraphic transfer is that the payee can receive the remittance quickly, but the cost is higher;

3. Bill remittance. Bill remittance refers to a remittance method in which the remitting bank opens a bank draft at sight on behalf of the remitter at the request of the remitter, and pays a certain amount to the payee.

Bank remittance process:

1. Counter remittance: users can go to the counter of any bank's business outlets with their ID cards and cash, and they need to provide the bank account and name of the payee before handling the business;

2. Electronic remittance: users can log in to mobile banking or online banking to make remittance, and they also need to provide accurate payee account and name information when making remittance, otherwise the remittance will fail;

3. short message remittance: users can edit short messages in a fixed format and then send them to the designated account. To use short message remittance, this function needs to be enabled in advance.

Legal basis: Article 41 of the Regulations of the People's Republic of China on Foreign Exchange Control

If foreign exchange is remitted into China in violation of regulations, the foreign exchange control authorities shall order it to make corrections and impose a fine of less than 3% of the illegal amount; If the circumstances are serious, a fine of not less than 3% of the illegal amount but not more than the equivalent amount shall be imposed.

in case of illegal settlement of foreign exchange, the foreign exchange administration authorities shall order the illegal settlement of foreign exchange to be redeemed and impose a fine of less than 3% of the illegal amount.