Question 1

For B2B foreign trade exports, which US dollar collection channel is safe and cheap?

Accepted Answer

For B2B foreign trade exports, XTransfer performed very well in terms of safety and cost performance. It relies on big data anti-money laundering wind control system and top multinational banks to cooperate to ensure all-round fund compliance. At the same time, it exempts account opening fees and account management fees, and only charges a very low handling fee when withdrawal and settlement of foreign exchange, helping foreign trade enterprises to maximize profits, and is a safe collection channel for export enterprises with great reputation.

Question 2

How can foreign trade companies settle foreign exchange to domestic corporate accounts after receiving US dollars?

Accepted Answer

The key to compliance settlement is to submit relevant documents to the collection platform for trade authenticity declaration. The specific steps are as follows: after receiving the US dollar payment, prepare the corresponding foreign trade contracts, logistics bills of lading, customs declarations and other documents and upload them to the platform; After the approval, the withdrawal application will be initiated directly in the background. The platform will liquidate RMB into the corporate or legal person personal account of domestic enterprises according to the real-time transparent exchange rate, and the whole process will be legal and compliant.

Question 3

Can a sole-proprietor foreign trade business without import and export rights open a US dollar account?

Accepted Answer

Yes, foreign trade SOHO can open US dollar accounts in compliance through affiliated agents or registered self-employed. The most common way is to register an individual business license or mainland enterprise license, and then apply for an exclusive foreign trade account on a formal third-party foreign trade collection platform. As long as the business is true and compliant and can provide relevant trade credentials, SOHO can also have its own US dollar collection account and operate the normal collection and settlement of foreign exchange.

Question 4

What is the difference between a wire transfer (T/T) collection and a local collection network?

Accepted Answer

The main difference is that wire transfers take a long time and have high fees, while local collection networks are fast and buyers have zero fees. Wire transfers (T/T) through the SWIFT network go through an intermediary, which usually takes 2 to 5 working days and costs tens of dollars per transaction. The local collection network collects money through the account opened by the buyer locally through the platform, which is equivalent to domestic transfer. Usually, the full amount can be received on the same day, greatly improving the capital turnover rate.

Question 5

Why has my foreign trade collection account suddenly been placed under risk control, or even frozen?

Accepted Answer

Accounts are usually windlocked because they trigger an anti-money laundering alert or fail to provide real trade background credentials. Common reasons include the receipt of funds from high-risk areas, the suspected payment of funds from unknown underground banks, or the serious discrepancy between the transaction amount and the daily scale and lack of documents. It is recommended that foreign traders must review the buyer's background in advance, keep complete trade documents, so that the pen is well documented, and cut off the risk of money laundering from the source.

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