When using ipaymy's International Payment feature, users can choose to make a payment in the following three payment categories: Rent Payment, Invoice Payment, and Money Transfer. You've probably wondered: what's the difference between invoice payment and money transfer? Read on to find out.
When should I choose Invoice Payment?
If you're making a payment to settle any invoices (e.g., supplier invoices, salary invoices) issued by a business or an individual overseas, you should choose Invoice Payment.
For example, you should choose to make an invoice payment if you'd like to settle a supplier invoice issued by your overseas supplier.
When should I choose Rental Payment?
If you're paying your rent for an overseas rental to your landlord, you should choose Rental Payment. You will be required to upload a supporting document of rental between you and your landlord.
When should I choose Money Transfer?
If you're transferring money to your own foreign bank account or a family member's foreign bank account, you should choose Money Transfer.
If you are making a funds transfer to your family member abroad, you're required to upload a support document indicating your relationship between you and the recipient.