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Question: Is it necessary to designate a correspondent bank for international remittances?
5-2. About Outgoing transfer and Incoming transfer
Answer: If the SWIFT code of the recipient bank is specified, the sender's bank (or correspondent bank of the sender's bank) will search for the correspondent's account and transfer the fund. However, in the above case, funds are collected through multiple correspondent banks, and in rare cases, it may cause troubles such as funds being lost on the way. It is common to specify a correspondent account from time to time.
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