Transcript 슬라이드 1

Basic Remittance Transaction
1. Type of Remittance
2. Telegraphic Transfer Flow Chart
(1)In case payment bank is depository correspondent bank
(2)In case payment bank is non-depository correspondent bank
(3)In case remittance amount is unpaid
3. Demand Draft Flow Chart
4. SWIFT
(1)Definition
(2)Message Type
(3)Specialized Category
(4)Character & Sign in Use
(4)SWIFT BIC (Bank Identifier Code)
5. IBAN (International Bank Account No.)
6. National Clearing Code
7. New Quick Remittance Service
(1) New Quick Remittance Service
(For Outward Remittance – Overseas Branch)
Basic Remittance Transaction
1. Type of Remittance
Type of Remittance
It is the transaction receiving remittance amount and fee from client and put on hold in
foreign transaction bank account or bills sold a/c, it is classified into T/T, M/T and D/D
based on remittance method
1) T/T
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
Telegraphic Transfer
Remittance notification by SWIFT, Telex, Fax and RTGS
Most fast and safe method among remittance
SWIFT is widely used as of now
RTGS Message of local settlement system is used in some countries
and it is obligated in some countries
What is RTGS?
※What is RTGS? :It is the abbreviation for Real-Time Gross Settlement that is local fund
transfer system. As representative RTGS, there are Fedwire of US, MEPS of Singapore,
DeskBank of Australia, PlayLing for the Netherlands, CAPS of Great Britain, SIT of France,
DTA/ELS of Germany, etc.
2) M/T
3) D/D
 Mail Transfer
 Transaction to send M/T to paying bank via mail by generating it with receipt
of remittance amount
 Other transaction processes is same as T/T except the sending method
Demand Draft
Issuance of D/D to client after generating it with receipt of remittance amount
Remittance method for acceptor to withdraw remittance amount by presenting
the D/D to paying bank prescribed on the after client sends it to acceptor
Although bank fee is inexpensive, there is risk for loss.
Used in small amount remittance
D/D Form used in KEB
D/D
Demand Draft
Paying bank is not printed on check and paying bank is assigned at the point
of check issuance.
KRS
Korea Exchange Bank Remittance Service
Check with printing of Paying Bank as BONY N.Y. and MICR printing of Check
No. and Settlement Bank Code
Used only when issuing currency is USD
It may be used in remittance to country other than USA when there is no
depository correspondent bank of our bank
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2. Telegraphic Transfer Flow Chart
(1)In case paying bank is depository correspondent bank
Send payment order directly to the paying bank without commission to the third bank
Paying authorizes the OUR A/C or Their A/C and pays the remittance amount to beneficiary
② Send Payment Order
(Payment Order, MT100,MT103,RTGS)
Paying Bank
(Account with bank)
Remitting Bank
① Request for
Remittance
③ Payment of
Remittance Amount
Remitter
Depository
Correspondent Bank
Beneficiary
Means the bank that can settle the remittance fund, etc since
current account in name of Korea Exchange Bank is opened in
foreign banks or current account in name of foreign banks is
opened in Korea Exchange Bank
(2)In case paying bank is non-depository correspondent bank
Necessity for bank to perform fund settlement on remittance amount. Bank with deposit
correspondent contract with our bank
Sole use of MT100,MT103
All transactions are process with solely using SWIFT MT100 or MT103
Reimbursement Bank
② Payment Order
③ Payment Order
(Payment Order, MT100,MT103)
(Payment Order, MT100,MT103,RTGS)
Paying Bank
(Account with bank)
Remitting Bank
④ Payment of
Remittance Amount
① Request for
Remittance
Remitter
Beneficiary
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Use of MT103 or MT 100 with MT202 at the same time
In case client shall receive fund quickly regarding the elongation in fund settlement period for
currency other than USD, etc
Reimbursement Bank
②Order for
Debit Authorization
② Credit Advice
④
(Debit Authorization MT202)
(Credit Advice MT910)
Paying Bank
(Account with bank)
Remitting Bank
② Payment Order
(Payment Order, MT100,MT103,RTGS)
① Request for
Remittance
③ Payment of
Remittance Amount
Remitter
Beneficiary
Cost Analysis for Remittance
No method is concluded to be advantageous in aspect of cost
Remittance Fee
Use of
MT100,MT103
Cable Fee
Through Through
Bank
Bank
Through
Bank
…Fee of Settlement Bank
Remittance Fee
Combination use of
either MT100 or
MT103 with
MT202
Cable Fee
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(3) In case remittance amount is unpaid
For error in minor information, Amend Processing to Remitting Bank
Return processing in case paying bank unpaid the remittance amount due to beneficiary
unknown, cancellation in remittance, etc.
② Send Payment Order
(Payment Order, MT100,MT103,RTGS)
Paying Bank
(Account with bank)
Remitting Bank
④Return
⑤ Refund for
Returned Amount
① Request for
Remittance
③ Payment of
Remittance Amount
Remitter
Beneficiary
Refund for Returned Amount:
Refund remittance amount
received of return notification
Return :Return with no
processing of remittance
amount in Paying Bank
(Account with bank)
3. Demand Draft Flow Chart
③ Send D/D Issuance Notification(MT110)
Paying Bank
(Account with bank)
Remitting Bank
⑤ Debit Advice
① Request for
Remittance
② Issue D/D
⑤ Payment of
Remittance Amount
④Present D/D
(Request in Remittance Amount
③ Send D/D
Remitter
Beneficiary
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4. SWIFT
(1) Definition
Abbreviation for The Society for Worldwide Interbank Financial Telecommunication
It was established in May. 1973 by banks of 15 countries including USA, Europe, etc to
construct worldwide data telecommunication network to send message of foreign exchange
transaction such as remittance, collection, commercial L/C and capital transaction between
foreign countries.
 Korea registered as member on Mar. 1992 as 76 th country.
 SWIFT is the international organization for data telecommunication without fund settlement
capability
(2) Message Type
Standardization in message type for the quick and precise message sending
It is composed of 3 digit number and each number has certain meaning
Message Type
①
②
③
④
:
:
:
:
MT
n
n
n
①
②
③
④
Abbreviation for Message Type
Message Category : Indication for Category of Relevant Transaction
Message Group : Indication for Certain Function within Transaction Category
Message Type : Indication on Details of Certain Function
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(3) Special Category
Message
category
Category of Relevant Transaction
1
Customer Payments and Cheques
Ex) MT 100, MT103, MT110
2
Financial Institution Transfers
Ex) MT202
3
Treasury Markets-Foreign Exchange, Money Markets and Derivatives
4
Collections and Cash Letters
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Securities Markets
6
Treasury Markets-Precious Metals
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Documentary Credits & Guarantees
8
Travel Cheques
9
Cash Management and Customer Status
0
Broadcast
(4) Character & Sign in Use
Only use character & sign allowed in SWIFT for message sending
1) Character & Sign in Use
 English Alphabet
A
B
C
D
E
F
G
H
I
J
8
9
K
L
M
 Arabic Number
0
1
2
3
4
5
6
7
-
?
:
(
)
.
‘
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 Sign
/
※Caution: No use of Colon (:) in first line
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N
O
P
Q
R
S
T
U
V
W
X
Y
Z
2) Example of sign in no use
Sign in No Use
Sign in Use
Notes
=
EQUAL
Input Directly as Character
@
AT or UNIT PRICE
$
USD
[ ]
( )
&
AND
{ }
( )
%
PCT or PERCENT
;
:
However, no use of colon(:)
in first line
“ “
‘‘ ‘‘
Single Quotes
(5) SWIFT BIC
Abbreviation for SWIFT Bank Identifier Codes
Unique code granted to each financial institution for the identification of financial institution
in automatic processing of telecommunication message sent and received between financial
institutions
Composer of either 8 digits or 11 digits
4 digit character
+
BANK CODE
2 digit character
or number
2 digit character
+
COUNTRY CODE
+
LOCATION CODE
Ex.
Headquarter - KOEX KR SE (8 digits)
of our bank
3 digit character
and number
BRANCH CODE
KOEX: Abbreviation for Korea Exchange Bank
KR : Korea - Country Code
SE : Seoul - Location Code
Prevent generation of Repair Charge by putting bank code for each country of BIC or IBAN
before drawing up the remittance request
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○ Method to confirm BIC of the opposite bank with statement received in SWIFT
MIR : 071008CHASUS33DXXX1821434143
MIR-TIME : 0314-----①
MOR : 071009KOEXKRSEAXXX9868449829
MOR-TIME : 1714-----②
MUR :
FM : JPMORGAN CHASE BANK N.A..,NEW YORK
TO : KOREA EXCHANGE BANK, SEOUL
DATE:070309
① Message Input Reference
MIR : 071008 CHASUS33DXXX 1821434143
MIR-TIME : 0314
 MIR : MESSAGE INPUT REFERENCE
 071008 : Local date for message sent by sending bank (Oct. 8th, 2008)
 CHASUS33DXXX : -SWIFT BIC of sending bank
Means JPMORGAN CHASE BANK
- CHAS : BANK CODE
- US : COUNTRY CODE (means USA)
- 33 : CITY CODE (means NEW YORK)
- A : LOGICAL TERMINAL
- XXX : Place for BRANCH CODE-XXX’ means no relevant data
1821 : Sequence No. with which sending bank accessed to SWIFT System with SESSION NUMBER
434143 : Sequence No. granted when sending bank sends the message to SWIFT system with
Input Sequence No.
MIR-TIME : 0314 is message sending time, local time sending bank sent message to SWIFT system
※ Method to input BIC of receiving bank in drawing the receiving statement
 In case BRANCH CODE is XXX : Input only 8 digits from the front
Ex : CHASUS33
 In case BRANCH CODE is not XXX : Disregard number or character in 9 th digit and input 11 digits
Ex :CHASUS33DCLS →CHASUS33CLS
② Message Output Reference
MOR : 071009KOEXKRSEAXXX9868449829
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MOR-TIME : 1714
MOR : MESSAGE OUTPUT REFERENCE
071009 : Date Woori Bank received the message (Oct. 9th, 2007)
KOEXKRSE : SWIFT BIC of Woori Bank
9868 : Sequence No. with which Woori Bank accessed to SWIFT system with SESSION NUMBER
MOR-TIME : 1714 is message receiving time, local time receiving bank received message from
SWIFT system
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○ BIC CODE for Banks in Korea
Name of Bank (KOR)
Name of Bank (English)
SWIFT BIC
SC Jeil Eunhang
STANDARD CHARTERED BANK, FIRST BANK KOREALIMITED,SEOUL
SCBL KRSE
Woori Eunhang
WOORIBANK,SEOUL
HVBK KRSE
Gieop Eunhang
INDUSTRIAL BANK OF KOREA, SEOUL
IBKO KRSE
Nonghyeop
NATIONAL AGRICULTURAL COOPERATIVE FEDERATION, SEOUL
NACF KRSE
Busan Eunhang
PUSAN BANK, SEOUL
PUSBKR2INT
Jeiju Eunhang
JEJUBANK, SEOUL
JJBK KR22
Daegu Eunhang
DAEGU BANK LTD., SEOUL
DAEBKR22SEL
Gyeongnam Eunhang
KYONGNAM BANK, SEOUL
KYNAKR22ITL
Jeongbuk Eunhang
JEONBUK BANK LTD., SEOUL
JEON KRSE
Gwangju Eunhang
KWANGJU BANK LTD., SEOUL
KWAB KRSE
Gukmin Eunhang
KOOKMIN BANK, SEOUL
CZNB KRSE
Shinhan Eunhang
SHINHAN BANK, SEOUL
SHBK KRSE
Suhyeop
SUHYUP BANK, SEOUL
NFFC KRSE
Hana Eunhang
HANA BANK, SEOUL
HNBN KRSE
Saneop Eunhang
KOREA DEVELOPMENT BANK, SEOUL
KODB KRSE
Suchulip Eunhang
EXPORT IMPORT BANK OF KOREA, SEOUL
EXIK KRSE
Meritz Jonggeum
MERITZ INVESTMENT BANK, SEOUL
KFBC KRSE
Woori Tuja Jeunggwon
WOORI INVESTMENT AND SECURITIES CO.,LTD.,SEOUL
WISH KRSE
Geumho Jonggeum
KUMHO, INVESTMENT BANK, SEOUL
KHMB KRSE
** Hong Kong: //HK + 3 digits ** Ireland: //IE + 6 digits
** Switzerland: //SW + 6 digits ** Russia : //RU + 9 digits
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5. IBAN (International Bank Account No.)
Abbreviation for International Bank Account No.
International standardization of beneficiary account no. by EU membership countries for the
purpose of straight through processing in remittance, etc between foreign countries.
1) Composition
①COUNTRY
CODE
①
②
③
④
⑤
2) Ex
+
②CHECK DIGIT
③ National Clearing
Code
+
+
④ Beneficiary
Account No.
2 digit country code (Ex: Germany-DE, Italy-IT, France-FR)
2 digit Check Digit
Bank Code = National Clearing Code
Beneficiary Account No. (Germany – 10 digits)
No. of digits differ for national clearing code and beneficiary account no.
DE 19 52410400 3011009010
DE : Country Code of Germany, 19 : CHECK DIGIT
52410400 : Korea Exchange Bank AG National Clearing code//BL52410400
3011009010 : Beneficiary Account No.
6. National Clearing Code, Nat’l Routing Code
National Clearing Code, National Routing Code
In foreign countries, national clearing code (//FW, //CC, etc) is indicated in beneficiary
account no. instead of branch name of beneficiary transaction bank thus you must input it
for quick and precise remittance
Country
USA
Name
Code System
ABA NO=FED WIRE NO =ROUTING NO
FW+9 digits (2+2+4+1)(Region+ Bank Type + CHIPS + 1 digit)
DIRECT PAYMENT ROUTING NO
CC+9 digits (4+5)(Bank + Branch=TRANSIT NO)
0001:BANK OF MONTEAL
0003:ROYAL BANK OF CANADA
0004:TORONTO DOMINION BANK
0010:CANADIAN IMPERIAL BANK OF COMMERC
SORT CODE
SC+6 digits (2+2+2)(Bank + Region + Branch)
BLZ NO
BL+8 digits(3+3+2)(Bank + Region + Branch)
BSB NO(Bank State Branch Code)
AU+6 digits(2 + 2+ 2) (Bank + Region + Branch)
France
BANQUE CODE+GUICHET CODE
10 digits(5+5)(Bank + Branch) **Input to ”Beneficiary
Account No.”
Italy
ABI+CAB
ABI 5 digits + CAB 5 digits ** Input to “Beneficiary Account
No.”
NATIONAL CLEARING CODE
NZ+ 6 digits (2+4)(Bank + Branch)
In case beneficiary account no. is in 15 digits, first 6
digits are national clearing code
BLZ (AUSTRIAN BANKLEITZAHL) NO
AT+ 5 digits
Canada
Great Britain
Germany
Australia
New Zealand
Austria
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7. New Quick Remittance Service
Outline of Service
 Quick remittance service where notification to beneficiary within 30 minutes of remittance from foreign
countries, payment of remittance amount or deposit of remittance amount to account and notification on
result of remittance process to remitter via e-mail are processed through cooperation with overseas branch.
Service Target
• Foreigner staying in Korea who needs emergency fund
• Client including company demanding quick remittance, etc requesting for urgent remittance
Contents of Service
A. Service Country & City (8 countries 11 branches):
Japan (Tokyo, Osaka), Hong Kong, Philippines (Manila), Singapore, Australia (Sidney), China
(Peking, Tianjin, Dalian), Vietnam (Hanoi), Indonesia (Jakarta)
B. Remittance Currency : USD & Local Currency
C. Remittance Amount :Amount equivalent to USD 10,000 or less
D. VALUE DATE : Same date as date of remittance (straight through processing)
E. Remittance Hour : 30 minutes before closing hour of domestic branch
Remittance Hour of Overseas Branch
Region
KEB Branch Name
Local Time for
Remittance
Korea Time
Time Difference
with Korea
Japan
Tokyo Branch, Osaka Branch
09:00 15:00
09:0015:00
None
China
Peking Branch, Dallia Branch,
Tianjin Branch, Shanghai Branch
09:00 15:00
10:00 16:00
1 hour
Hong Kong
Hong Kong Branch
09:00 15:00
10:00 16:00
1 hour
Singapore
Singapore Branch
09:30 15:00
10:30 16:00
1 hour
Philippines
Manila Branch
09:00 15:00
10:00 16:00
1 hour
Australia
(Sidney)
KEB Australia
10:00 16:00
09:00 15:00
+ 1 hour
Vietnam
Hanoi Branch
08:00 - 14:00
10:00 – 16:00
- 2 hours
Indonesia
Danamon Exchange Bank
(Located in Jakarta)
09:00 14:00
11:00 16:00
2 hours
* Closed on Saturdays, Sundays and Local Holidays
* Local time for remittance is calculated in accordance with business hour of Korea (30 minutes for closing hour considering the
processing time after reception of New Quick Remittance) within business hour of local branch
F. Fee for New Quick Remittance
- Amount : USD 10 for each remittance (Separate from remittance fee)
- Possession of Profit : Overseas branch performing remittance
- Account Settlement : Miscellaneous profit from foreign exchange fee
(straight through processing)
- No exemption with discretion of chief of branch
G. Refund of Fee
- Refund Target : In case appeal has been instituted due to failure of operation support
center (foreign exchange team) of headquarter in notification to beneficiary within 30
minutes after the remittance to overseas branch or failure in payment of remittance amount
-Account Settlement : Debit from miscellaneous profit from foreign exchange fee account
* Instruct window to recommend overseas remitter to make phone call to domestic
beneficiary regarding the remittance and domestic beneficiary to directly visit domestic
branch for withdrawal.
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