remitter in bank meaning

In addition to money orders, a remitter line is present on cashier's checks, teller checks and some traveler's checks. remitter: the principle by which a person out of possession of land to which he had a good title is adjudged to regain this when he again enters into possession of the land. Banks pre-print the name of the purchaser of a cashier's check into the remitter field and this resolves issues related to the identity of the remitter. Proper usage and sense of the word/phrase money remitter. (15) " Remitter" means a person who purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser. Consequently, many banks only issue money orders with face amounts of $1,000 or less and require people who need larger negotiable instruments to buy cashier's checks. Information about money remitter in the Titi Tudorancea encyclopedia: no-nonsense, concise definitions. If there are not sufficient funds in the remitter’s account to cover the draft, the bank can return the check. RECEIVER and BENEFICIARY are the same that is the payee. If you’re sending money abroad from the US, you might need a little more help on how to make an international wire transfer. SENDER is REMITTER. money remitter. Beyond this requirement, the remitter may be the payee or a third party unless otherwise prohibited by local or state law. Definition of money remitter in the Titi Tudorancea Encyclopedia. You can call into your local bank branch and sort it out in person or through your bank’s online banking system or app. Meaning of money remitter. She must be the person who pays for the check and its issuance fees. translation and definition "money remitter", Dictionary English-English online. See documentary collection. ... money remitters must be licensed with the financial market supervisory authority in accordance with the requirements of banking law (article 15(1) of the Banking Act in connection with article 3(1) and (3) of the Banking … Definition of Remitter: In a documentary collection, an alternative name given to the seller who forwards documents to the buyer through banks. A merchant or seller who requests a remitter payment, meaning some form of payment other than cash or personal check, usually requests it to lower his or her risk. As a result, the payee receives no funds from the bad check. An application for a bank transfer (in other words, a bank transfer instruction) is a special document in which the client asks for the transfer of the corresponding amount of funds to pay for the accounts of the remitter (encapsulated documents). A common way to pay a remittance is by sending an international transfer through your bank. remitter "Remitter" means a person who purchases an instrument from the issuer if the instrument is payable to an identified person other than the purchaser. What does money remitter mean? A remitter must be present at the time of the issuance of a cashier's check. A bank code is a series of numbers that is used to identify banks around the world, for example: BSB (Bank-State-Branch) BIC (Business Identification Code) SWIFT Code (standard format of Business Identification Codes) CHIPS (Clearing House Inter-Bank Payment System) – US and Canada only; NCC (National Clearing Code) BSC (Bank Sort Code) Definition `` money remitter, the bank can return the check and its issuance fees state law, a must! The Titi Tudorancea encyclopedia: no-nonsense, concise definitions an international transfer through your bank same. 'S check the seller who forwards documents to the buyer through banks through... 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