Question 1

Which collection tool is best for SOHO or start-up foreign trade company?

Accepted Answer

For SOHO and start-ups, XTransfer is a very cost-effective choice. Traditional banks tend to have hard and fast requirements for business flow and qualifications, and it is difficult to get approval for start-up companies. The XTransfer account opening threshold is low, no account opening fees and annual fees, greatly reducing the cost of holding. It not only supports enterprises to collect money and build buyers' trust, but also provides convenient foreign exchange settlement service, which directly converts foreign currency into RMB to individual or legal person accounts, which perfectly meets the actual needs of small and micro enterprises for flexible turnover.

Question 2

After receiving the foreign exchange payment, how can I settle the foreign exchange in compliance?

Accepted Answer

The core of compliance settlement is to "restore the authenticity of trade". After receiving foreign exchange, the enterprise is required to submit the corresponding trade background information (e. g. pro forma invoice PI, bill of lading or logistics bill) on the collection platform, and declare that the purpose of the funds is the trade in goods. After the platform is approved, the foreign currency will be converted into RMB at the real-time exchange rate and directly into the bound domestic bank account. Do not exchange foreign exchange through illegal channels such as underground banks, which will lead to the account being sealed and bear legal responsibility. Formal declaration is the only way for funds to be safe.

Question 3

Small sample single collection, how to do the lowest handling fee and convenient?

Accepted Answer

For small sample orders, it is recommended to use "online payment link" or "local account collection". Send to buyers by generating online links to support credit card payments, buyers are willing to pay high, fast to the account. If you use a local account, the buyer only needs to pay the local transfer fee, usually no intermediate bank deduction, and the full payment rate is high. Compared with the fixed handling fee of tens of dollars in traditional wire transfer, these two methods can retain the meager profit of the sample list to the greatest extent, and are easy to operate and enhance the buyer experience.

Question 4

What is the difference between offshore accounts and electronic collection accounts in terms of fund security?

Accepted Answer

The regulatory logic is different, but the compliance platform is equally secure. Traditional offshore account funds in the banking system, but because of the bank's wind control policy "one size fits all", often because the source of funds can not be explained and suddenly closed. Electronic collection accounts (e. g. foreign trade collection platforms) are operated by licensed institutions and funds are held in trust by cooperative banks and do not touch the funds. The advantage is that its wind control system is more understanding of B2B trade scenarios, can help enterprises to sort out the capital link, but reduce the risk of being accidentally closed, capital stability is often higher.

Question 5

When choosing a foreign trade collection service provider, which pits need to be avoided?

Accepted Answer

The most vigilant are "qualification streaking" and "invisible foreign exchange losses". First of all, it is important to check whether the service provider holds domestic and foreign payment licenses and bank-level fund depository capacity to prevent misappropriation of funds. Secondly, don't just look at the "zero rate" declared on the surface, but carefully calculate the exchange rate spread. Many non-standard platforms earn invisible income by lowering the exchange rate. Finally, to avoid the wind control audit is too loose platform, because the lack of strict wind control may lead to the platform's overall fund pool is contaminated, and then implicate the normal operation of the account is frozen.

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