In this system, the payer deposits the money along with other charges in a bank which has a branch office at the payee's place. On receipt of cash and other charges, the bank telegraphically informs the branch office to credit the amount to the payee's A/C. The payee is accordingly informed and can withdraw the money. The money can also be remitted by mail transfers, which takes a little longer time. This method helps for quick remittance, but it is not a popular one.Where there is a branch office of the recipient's. Cash receipts and other bank charges to the Branch Office credit the amount paid by account payee by telegraphically and can withdraw money, transfer money, can also lead by mail less anymore. This method allows for quick payment.
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