Bankremittanceinvolvestransferringfundsfromonebankaccounttoanother,oftenacrossborders.KeyEnglishtermsinclude"SWIFT/BICcode"(bankidentifier),"IBAN"(internationalaccountnumber),"beneficiary"(recipient),"remitter"(sender),"routingnumber"(USbankcode),and"wiretransfer"(electronictransfer).Otherimportanttermsare"exchangerate,""processingfee,""intermediarybank,"and"clearingsystem."Understandingthesetermsensuresaccurateinternationalmoneytransfers.Alwaysverifydetailslikeaccountnumbersandrecipientnamestopreventerrors.Banksmayusetermslike"outwardremittance"(sending)and"inwardremittance"(receiving).Forurgenttransfers,specify"express"or"priority"service.
