Thursday, August 28, 2008

Difference between Remittance and Transfer

In financial industries, 'Remittance' refers to an action of sending money from an individual to other not being resulted from either sale and transfer of good and funds. 'Transfer' generally refers to an action of sending money from a party to other as payment for a good or service.
E.g. CitiBank Japan have different charge for remittance and transfer

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