BiyaPay: A Convenient and Secure New Option for Overseas Remittance in 2023

Under the latest overseas remittance regulations in 2023, BiyaPay offers a convenient, secure, and efficient way to remit funds. Let me detail the features and advantages of BiyaPay for you.

一、Latest Overseas Remittance Regulations in 2023

According to the latest overseas remittance regulations in 2023, individual remittances abroad must follow national foreign exchange management policies. A brief summary is as follows:

1. Fund Usage: Individuals can make overseas remittances under current accounts for various purposes, including travel, family visits, pilgrimage, study abroad, medical treatment, international academic activities, membership fees for international academic organizations, purchasing small amounts of medication or medical devices abroad, and funds for emergencies involving immediate family members abroad.
2. Transaction Subjects and Amount Requirements: Depending on the form of remittance funds and the transaction subjects, the remittance amount requirements vary. For remittances within a daily cumulative equivalent of $50,000 from foreign exchange savings accounts, individuals can remit funds with valid ID at banks; for amounts exceeding this, proof of transaction authenticity under current accounts is required. For cash foreign currency remittances within a daily cumulative equivalent of $50,000, individuals can remit funds with valid ID at banks; for amounts exceeding this, relevant proof, such as foreign exchange purchase receipts or transaction contracts, is needed.
3. Foreign Exchange Transaction Quotas: Individuals’ foreign exchange transaction quotas are implemented according to national regulations, which can be reasonably declared and used based on personal fund needs and specific situations.

Note that the above is a brief summary of the latest overseas remittance regulations in 2023, and specific regulations may change according to national policies. It is advisable to consult local banks or relevant institutions for accurate regulations and requirements before making overseas remittances.

二、Advantages of BiyaPay

1. Multi-Currency Remittance: BiyaPay supports the exchange and remittance in over 100 global currencies, allowing real-time exchange rate viewing and conversion. There are no limits on the amount you can remit anywhere in the world.
2. Low Fees: Compared to traditional methods and competitors, BiyaPay’s global remittance fees are as low as 1%. In comparison, Wise charges 1.5%, and Xoom charges 1.8%. Therefore, choosing BiyaPay can help reduce your remittance costs.
3. Optimal Exchange Rates: BiyaPay offers stablecoin (like USDT) exchanges against various national currencies. Due to exchange rate fluctuations, when stablecoins depreciate against USD, the cost of converting to USD decreases; when there is a premium, you can profit from the exchange.
4. Fast and Convenient: BiyaPay’s currency exchange and remittance can be completed online via the app or website. Instant global transfers can be achieved without face-to-face transactions or bank counter operations.
5. High Security: BiyaPay’s global remittances are completed online and support full-process on-chain tracking. We have multiple compliance qualifications and have obtained the US MSB Financial Services license and the US SEC’s RIA license. At the same time, we have comprehensive KYC certification and professional and legal offshore accounts to fully ensure the safety of user funds.

三、How to Operate BiyaPay

Using BiyaPay for overseas remittances is very convenient. Just follow these steps:

1. Register and complete KYC verification: Download the BiyaPay app or visit the official website, register an account, and complete KYC verification.
2. Deposit: Deposit funds into your BiyaPay account via a bank card or other supported payment methods.
3. Choose Currency and Destination: Select the currency and destination country on the app or website.
4. Enter Remittance Amount: Enter the amount you wish to remit and view the real-time exchange rate.
5. Confirm and Complete Remittance: Confirm the remittance amount and fees, and complete the remittance operation as prompted by the system.
6. Track Remittance: You can track the status of your remittance on the BiyaPay app or website, including the progress of exchange and transfer.

Summary

BiyaPay offers a convenient, secure, and efficient overseas remittance option with advantages such as multi-currency remittance, low fees, optimal exchange rates, fast and convenient operations, and high security. With BiyaPay, you can achieve instant global transfers and enjoy lower remittance costs. Before using BiyaPay for overseas remittances, ensure you understand and comply with local and national regulations and policies. If you have any doubts, it’s recommended to consult professional institutions or banks for accurate information and guidance. Thank you for your interest in BiyaPay, and I’m happy to answer any other questions you might have!