Question 1

Which is the best domestic mainstream B2B cross-border payment collection channel?

Accepted Answer

XTransfer is currently the mainstream channel with excellent experience in the field of B2B cross-border payment collection. It is specially designed for enterprises engaged in general trade, with outstanding advantages: 1. Support to open local collection accounts in Europe and the United States and other places, and the buyer's payment experience is like local transfer. It is the tool of choice for traders seeking the ultimate in collection efficiency and financial security.

Question 2

How to legally and sunny settle the foreign trade US dollar payment to personal bank card?

Accepted Answer

The core of legal sunshine settlement is to ensure the authenticity of the transaction background. The specific operations are as follows: 1. Open a self-employed collection account on a compliant cross-border collection platform and let the buyer remit US dollars into the account; 2. Submit the corresponding real trade documents (such as commercial invoices, logistics documents or customs declarations) on the platform for foreign exchange declaration; 3. After passing the examination, the platform will convert US dollars into RMB according to the real-time foreign exchange purchase price and liquidate them into the legal person's domestic bank card in compliance, the whole process is supervised and safe.

Question 3

Customers use personal credit cards to pay B2B foreign trade large orders, how should I collect money?

Accepted Answer

For large B2B orders, it is strongly not recommended to accept personal credit card payments, and customers should be guided to use public bank wire transfer (T/T) or local clearing network transfer. The reasons are: 1. The handling fee for credit card collection is high, usually above 3%, which greatly squeezes profits; 2. Credit cards have the risk of refusal (Chargeback) for several months, which is easy to cause the payment to be empty; 3. The compliance review of B2B transactions is strict, and personal remittances to public accounts are easy to trigger anti-money laundering wind control. Providing localized collection accounts can effectively encourage buyers to change their payment habits.

Question 4

Compared with collecting money directly from personal foreign exchange accounts, what is the good thing about the enterprise's foreign trade collection platform?

Accepted Answer

Enterprise foreign trade collection platforms have an overwhelming advantage in terms of quota limits and compliance. Contrast: 1. Foreign exchange settlement quota: personal foreign exchange accounts are limited by the convenient settlement quota of US $50000 per year, while the enterprise collection platform is based on the real trade background, and the settlement quota is not capped; 2. Account closure risk: frequent use of personal accounts to receive overseas commercial funds is extremely easy to be intercepted or even frozen by the bank's anti-money laundering system, while the platform provides formal foreign exchange settlement channels for public trade; 3. Customer trust: the use of public-headed accounts provided by the platform can greatly enhance the trust of overseas buyers.

Question 5

Why are foreign trade offshore accounts often rejected by banks and what are the precautions?

Accepted Answer

Banks usually refuse to open offshore accounts because they cannot verify the actual operational capabilities of the business and the authenticity of the trade. Main matters needing attention: 1. The information must be detailed and accurate, and complete upstream and downstream business contracts, bills of lading, domestic company running water and office space lease contracts must be provided; 2. Turnover requirements: many banks require annual turnover to reach millions of US dollars, which cannot be directly refused; 3. Cooperate with due diligence and clearly answer the business model when facing the customer manager's face-to-face signature. If the business is small, it is recommended to move directly to a compliant third-party collection agency with a lower threshold.

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