SkyRemit primarily uses two channels for transfers:

Local Payments and international wire transfers

Fee Difference

1. Local payments only charge a 79RMB fixed fee per transaction, with no other intermediary bank fee.

2. International wire transfer involves multiple stages including the originating bank, intermediary bank, and receiving bank, potentially incurring additional fees, typically borne by the recipient (the user yourself).

Typically, the recipient will receive the payment minus the transfer charges. Therefore, the exact amount received in the end might be less than expected.

Conditions of Channel

1. Local Payments

When sending money in the local currency to a specific location (e.g., sending GBP to the UK), SkyRemit partners with local banks to process the transaction, ensuring a faster processing time.

2. International Wire Transfer

When sending a foreign currency to a specific location (e.g., sending USD to the UK), SkyRemit uses international wire transfer channels.