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Beginner's Guide

XTransfer has collaborated with internationally renowned banks and financial institutions to create a full-functioned B2B international trade finance platform, offering comprehensive solutions that include foreign trade payments, foreign exchange, financing, wealth management, risk management, mobile App, and other international services.
Here we will provide you with the essential knowledge and guidance for using XTransfer, covering topics such as receiving payments and currency exchange.
Beginner's Guide
1
Registration
Time: real-time
Cost: Free
How do I sign up for an XTransfer account? >
2
Verify Business
As per the applicable regulatory requirements, XTransfer is required to verify company qualifications and beneficiaries' IDs. Once verified, users are eligible to enjoy XTransfer services.
Time: review completed on the same day if submitted before 14:00 on working days
Cost: Free
What companies can get verified? >What documents are required for business verification? >
3
Receiving Accounts
XTransfer offers two types of payment methods—Global Receiving Account and local receiving methods (Local Receiving Account and Request Money). You can choose based on your needs.
Activation time: 0-3 working days
Cost: Free
How do I apply for an XTransfer receiving account? >What is a global receiving account? >What is a local receiving account? >
4
Receive Money
XTransfer can help you send or receive trade payments for compliant and physical sales
Time: 0-7 working days, dependent on the type of account and payment method.
Cost: Free for receiving payments
Which countries or regions does XTransfer prohibit transacting with? >Which countries or regions have a risk of payment scrutiny by banks? >
5
Convert Currency
Convert currency to smoothen the process of sending money.
Time: Available 24/7, done in as fast as 10 seconds
Cost: Free
Where can I make currency exchange? >
6
CNY Settlement
XTransfer makes CNY conversion reporting to the Chinese regulators on your behalf. No further reporting required once payment arrived.
Time: Available 24/7, done in as fast as 60 seconds
Cost: 0.4% * per transaction
How do I add an account for CNY Settlement? >How do I make a CNY Settlement request? >What are the process and documentation requirements for CNY Settlement? >
7
Send Money
With XTransfer you can send payment to either XTransfer accounts or to bank accounts based on your needs.
Time: 1-3 working days
Cost: $10-20 or equivalent of other currencies
How do I add a bank account? >How do I add an XTransfer account? >How do I send money to a bank account? >How do I send money to an XTransfer account? >
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