What is remittance ID?

What Is a Remittance ID?

A remittance ID is a unique code generated by the platform to identify your specific fiat deposit transaction. You enter this code in the "Message/Remarks" field when making a bank transfer, allowing the platform to accurately match the incoming funds to your account order.

When you deposit fiat or initiate an OTC transaction, the platform creates a unique alphanumeric string for your order. This code is recorded on your bank transfer receipt, effectively tagging your payment with an identifier. Once the platform's corporate account receives the funds, it matches the account name, amount, and remittance ID to quickly credit your deposit.

Why Do Banks and Platforms Require a Remittance ID?

Banks and platforms use remittance IDs to solve reconciliation challenges, reduce errors, and fulfill compliance audits. Without a remittance ID, platforms can only match transactions by name and amount. This can cause delays or mismatches if there are duplicate names, identical amounts, or missing remarks.

From an operational standpoint, remittance IDs allow platforms to uniquely identify numerous transfers of the same amount, speeding up deposits and simplifying tracking. For compliance, clear and traceable reconciliation records help meet anti-money laundering and audit requirements. As of February 2026, major platforms still require dedicated remittance IDs for certain fiat channels to improve reconciliation efficiency.

What’s the Difference Between Remittance ID and Transaction Hash?

Remittance ID and transaction hash serve different purposes. Remittance ID is used for offline reconciliation of fiat transfers, while a transaction hash (TxID) is a unique identifier for on-chain transactions—similar to a shipment tracking number—allowing you to view asset movement on blockchain explorers.

Scope: Remittance ID applies to the banking system; transaction hash is used on blockchain networks. Generation: Remittance ID is created by the platform order; transaction hash is generated by the blockchain when the transaction is packaged. Visibility: Remittance ID is only relevant to you and the platform; transaction hash is publicly searchable. Error consequences: Omitting a remittance ID often results in delays or manual reconciliation; entering a wrong address or tag on-chain can lead to irreversible loss of funds.

Is Remittance ID the Same as Remarks Code, Tag, or Memo?

In the context of fiat transfers, remittance ID is essentially equivalent to "remarks code/message"—text entered in the bank transfer remarks field for order matching. However, remittance ID is not the same as Tag or Memo, which are routing details used by specific blockchains.

For example, XRP, XLM, EOS, and similar networks allow multiple users to share the same deposit address but use Tag or Memo to route funds to individual sub-accounts. If you forget to include a Tag/Memo when depositing on these chains, your assets may be credited to the platform’s main address but not automatically assigned to your account, requiring manual intervention. Conversely, remittance IDs in fiat transfers never appear on-chain—they are simply textual codes in bank remarks.

Where Can You Find and How Do You Use a Remittance ID?

You’ll see your remittance ID when creating a fiat deposit order. The platform clearly displays "Recipient Name, Account Number, Bank Name, Amount, Remittance ID" on the deposit page and instructs you to enter the remittance ID exactly as shown in your bank’s "Message/Remarks" field.

Step 1: Create a fiat deposit order on the platform and note your dedicated remittance ID along with the amount and recipient details.

Step 2: Log into your online banking or mobile banking app, select corporate transfer, and paste the remittance ID into the "Message/Remarks" field without altering any characters.

Step 3: Double-check that recipient name and account number match those shown on the platform before submitting the transfer.

Step 4: Keep a screenshot of your bank transfer receipt and order number for reference in case of any issues.

How Should You Fill Out Remittance ID When Depositing via Gate?

In Gate’s fiat deposit flow, the remittance ID is generated with your order and displayed in the deposit instructions. You must enter this code exactly into your bank’s "Message/Remarks" field.

Step 1: Access Gate’s fiat deposit section, create an order, and obtain the recipient account details and remittance ID.

Step 2: Copy the remittance ID exactly, paying attention to case sensitivity—do not add spaces, emojis, or personal notes.

Step 3: Paste the remittance ID into your bank transfer’s "Message/Remarks" field; ensure that amount and recipient info match your Gate order.

Step 4: After completing the transfer, return to Gate and submit confirmation (if required), keeping a screenshot of your receipt for reconciliation.

Tip: Different payment channels may have varying deposit speeds; corporate transfers are generally faster during business days. If your bank restricts remark length, prioritize entering the full remittance ID.

What If You Forget or Enter the Wrong Remittance ID?

Forgetting or mistyping your remittance ID typically won’t result in lost funds but will delay crediting and require manual reconciliation. Gather your proof of transaction and contact the platform for assistance.

Step 1: Do not make duplicate transfers; this can complicate reconciliation with multiple identical payments.

Step 2: Prepare materials such as a screenshot of your bank receipt, transfer time, amount, last four digits of payment account, and recipient account info.

Step 3: Submit a support ticket or contact customer service on Gate describing "remittance ID error/omission" and attach all documentation. Provide your order reference number if needed.

Step 4: Await manual reconciliation—this may take some processing time. Keep your phone available for verification. If you transferred funds to a non-platform account by mistake, contact your bank immediately for reversal; success depends on recipient cooperation and processing speed.

Common Misconceptions and Risks Related to Remittance IDs

A frequent mistake is confusing transaction hash with remittance ID or entering Tag/Memo into bank remarks. This prevents automatic matching by the platform and delays deposits.

Another risk is altering the remittance ID format—adding punctuation, spaces, nicknames, or combining multiple order IDs will cause automated reconciliation to fail. Common errors include missing characters or substituting similar ones (e.g., O vs 0).

Information security risks also exist. Never share your remittance ID or account info with strangers; beware of phishing sites that fake "recipient account and remittance ID." Always verify recipient name, account number, and bank against Gate’s official page before transferring. For any financial transactions, use platform-provided deposit instructions and customer service channels.

How Will Remittance IDs Evolve in the Future?

The trend points toward greater automation and reduced manual intervention. Some channels now use "virtual sub-accounts" (VA) or automated receipt reconciliation to lessen reliance on remittance IDs—even assigning each user a unique recipient account instead of requiring manual remarks entry. Open banking APIs are also improving accuracy and speed of reconciliation.

As of February 2026, major platforms still require remittance IDs for certain bank channels due to cost and compliance needs. However, with smarter payment gateways and compliance service providers, remittance IDs may gradually be replaced by system-recognized virtual accounts and closed-loop reconciliation solutions.

Quick Recap: Key Points About Remittance IDs

A remittance ID is a reconciliation code for fiat transfers—generated by platform orders and entered exactly in your bank’s "Message/Remarks" field. It is distinct from blockchain transaction hashes and from Tag/Memo used on chains like XRP. To use it: create an order on the platform, copy the remittance ID, paste it into bank remarks, and verify recipient details; if you forget or make a mistake, contact platform support with receipt and order info for manual reconciliation. Always guard against phishing and information leaks—follow Gate’s latest instructions.

FAQ

What’s the Difference Between Payment ID, Transaction ID, and Trade ID?

These three terms have slightly different meanings depending on context. Payment ID typically refers to an identifier generated by payment channels; Transaction ID is a unique code for blockchain transactions; Trade ID can refer broadly to any transaction identifier. In crypto transfers, remittance ID specifically means a label requested by the receiving party to distinguish multiple deposits to the same address—it serves a different function than Transaction ID (blockchain hash).

Why Did My Transfer Succeed but the Recipient Hasn’t Received Funds?

The most common reason is incorrect or missing remittance ID. If this field is required but left blank, the recipient’s system may not be able to match your transfer record. To resolve this, contact support at the receiving platform (e.g., Gate) with your transaction hash and correct remittance ID—they can manually verify and process it. Always confirm whether a remittance ID is required before future transfers.

What If I Don’t Know What Remittance ID to Enter When Depositing via Gate?

First log into Gate and check the deposit instructions page for your currency—it will indicate whether a remittance ID is needed and specify its format. For certain coins (like XRP, XLM), remittance IDs are mandatory and automatically generated for you. If information isn’t clear on the page, contact Gate customer support—they will guide you through the correct deposit process.

Which Is More Important: Remittance ID or Blockchain Transaction Hash?

Both are crucial but serve different purposes. Transaction hash is an immutable record on-chain used to trace funds and confirm transaction authenticity. Remittance ID is essential at the platform level for rapid matching and crediting of your deposit. Without both pieces of information—especially if only hash but no remittance ID—the platform may not recognize your funds as yours, resulting in failed deposits. Both are indispensable.

Can You Make Multiple Deposits to One Wallet Address Using Different Remittance IDs?

Absolutely. This is precisely how remittance IDs function—distinguishing separate deposits made to the same receiving address by using different IDs for each transaction. For example, if you deposit to Gate multiple times, each deposit may use a unique remittance ID (either manually entered or auto-assigned), enabling accurate identification of each deposit source. This approach is common for coins like XRP or XLM that require remittance IDs.