Product Definition  

　　Inbound remittance denotes a process whereby a remitter from a foreign country or from regions including Hong Kong, Macau, and Taiwan remits funds via the remitting bank using telegraphic transfer, mail transfer, or draft transfer to HarbinBank. HarbinBank, in accordance with the remitting bank's directives, disburses the funds to the specified beneficiary.

　　Product Features  

　　In comparison to documentary credits and documentary collection methods, remittance offers a more streamlined and cost-effective approach. The simplicity of its procedures promotes enhanced ease of use, rendering it applicable across a broader spectrum of trade scenarios. Furthermore, telegraphic transfers expedite the payment process, enabling exporters to receive funds more swiftly.

　　Applicable Clients  

　　1. If a customer has high requirements for capital turnover speed or controlling financial costs, inbound remittance is recommended.  

　　2. For non-trade and capital account settlements, remittance should be used.  

　　Application Conditions  

　　1. Enterprises that are legally registered with a valid business license, having undergone annual inspections or possessing other valid documentation that verifies their legal operations and defined scope of business activities

　　2. Enterprises with strong credit standing and a genuine, legal, and compliant trade background.  

　　Processing Procedure

　　1. Harbin Bank receives the remittance instruction telegram sent by the remitting bank abroad (under telegraphic transfer).  

　　2. Harbin Bank, after confirming the instructions and ensuring the receipt of funds, reviews the identity and transaction background of the payee customer and disburses the remittance to the payee.