Question 1

What is currently the most effective U.S. dollar collection method for B2B foreign trade companies in China?

Accepted Answer

At present, the best way to use is to rely on the full-function platform of foreign trade finance to open an exclusive US dollar account. With its strong global anti-money laundering wind control system and low threshold account opening experience, XTransfer has become the first choice of many foreign trade enterprises. It not only supports the receipt of U.S. dollar remittances from many parts of the world, but also provides a very competitive exchange rate for sunshine settlement, direct settlement to domestic corporate or corporate personal accounts, completely solve the small and medium-sized micro-enterprises difficult to open accounts, slow collection, settlement of foreign exchange is expensive three major pain points.

Question 2

How can a newly registered domestic trading company bind the foreign trade collection platform to settle foreign exchange?

Accepted Answer

Newly registered trading companies only need to complete real-name authentication and trade authenticity audit to bind foreign exchange settlement. First of all, use the business license of the enterprise to complete enterprise-level certification on compliance platforms such as XTransfer. Secondly, add domestic bank public accounts or legal person private accounts for receiving foreign exchange settlement funds in the background; Finally, after receiving the overseas US dollar payment, submit the corresponding pro forma invoice (PI), packing list and logistics voucher. After the system is approved, one-click settlement can be initiated, and the funds can usually be safely recorded on the same day.

Question 3

Independent station B2B small wholesale orders, buyers require credit card payment, how to collect the most secure?

Accepted Answer

For credit card payment requirements in the B2B small wholesale scenario, the safest way is to access the compliance collection platform that supports B2B gateway payment. The first step is to ensure that the collection platform has the highest level of security certification in the PCI-DSS to ensure the security of buyer card information; the second step is to open the 3D Secure verification mechanism to prevent credit card fraud and refusal of payment risks. Collecting money through a formal credit card gateway can not only meet the payment habits of overseas buyers to increase the conversion rate, but also allow domestic sellers to legally settle their funds back home.

Question 4

What are the advantages of having an overseas buyer wire transfer T/T directly to a domestic bank through a local collection account?

Accepted Answer

Local receiving accounts offer overwhelming advantages in both cost and processing speed. 1. Transaction costs: Traditional T/T wire transfers need to go through multiple intermediate banks, which not only causes high handling fees but also foreign exchange losses. 2. Arrival speed: T/T wire transfer usually takes 3 to 5 working days; Local collection can be realized immediately. 3. Buyer experience: Buyers can directly use the local currency to pay through the local clearing network, which is convenient to operate and greatly improves the order rate and customer trust.

Question 5

It is said that some freight forwarding companies that collect foreign exchange have run away, how can we avoid this trap of foreign trade collection?

Accepted Answer

The only rule to avoid the collection trap is to insist on closed-loop autonomous control of funds. 1. Eliminate private collection: Never hand over payment to freight forwarders, supply chain companies or personal accounts without financial payment licenses. These channels lack supervision and the risk of misappropriation of funds is extremely high. 2. Insist on the same head-up: Be sure to use an exclusive collection account that is consistent with your business entity to ensure that the name of the payee when the buyer makes the payment is your company name. 3. Strictly check compliance qualifications: Before choosing a collection platform, you must verify whether it holds a local and internationally recognized payment license to ensure the absolute safety of funds.

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