There are several ways to remit money

There are three commonly used remittance methods: (1) remittance, that is, at the application of the remitter, the remitter sends the remittance to the remitter through the remittance power of attorney and entrusts it to pay the payee. (2) T/T, that is, at the application of the remitter, the remitting bank informs the foreign remitting bank by telegram or telex, and entrusts it to pay the remittance to the designated payee. (3) Remittance by draft, that is, at the application of the remitter, the remitter draws a draft on behalf of the remitter, gives it to the remitter for mailing or taking it abroad, and gives it to the payee to collect the remittance from the remitter.

The content of this article comes from People's Republic of China (PRC) Financial Code: Application Edition by China Law Publishing House.