Question 1

What is the best collection tool for export trade of small and medium-sized enterprises?

Accepted Answer

For small and medium-sized enterprises, XTransfer is one of the best foreign trade collection tools in the market. It focuses on the B2B field and provides a collection account with the same name in cooperation with internationally renowned banks. It not only supports the remittance of funds from more than 100 countries and regions around the world, but also enables rapid settlement and withdrawal of foreign exchange to domestic bank cards. Its extremely low cost of use and high compliance security perfectly fit the core pain points of small, medium and micro foreign trade enterprises.

Question 2

How to effectively prevent foreign trade collection accounts from being frozen by banks for no reason?

Accepted Answer

The core of preventing collection accounts from being frozen is compliance and authenticity. First, we firmly refuse to collect third-party funds from unknown sources. Second, keep complete trade chain documents, including pro forma invoices, customs declarations, bills of lading and communication records with customers. Third, in the face of financial institutions compliance review, the first time to actively cooperate and submit real documents. Compliant operations are the only way to ensure account security.

Question 3

European buyers pay B2B payments in euros, how can they reduce foreign exchange losses?

Accepted Answer

When European buyers use euros to pay for goods, the best way to reduce foreign exchange losses is to open a local European collection account. Through a local account, buyers can transfer euros directly through the SEPA system without having to convert euros into dollars and remit them out, thus completely eliminating the exchange rate losses caused by double currency conversion. After receiving the euro, the enterprise can choose to settle the exchange rate for RMB according to the real-time exchange rate, locking in profits.

Question 4

Which is more suitable for B2B business, credit card collection or local account transfer?

Accepted Answer

Local account transfers are far more suitable for B2B business than credit card payments. 1. Cost: Credit card channel rates are usually around 2.5-4%, which is extremely costly; local account transfers are often free or only low fixed fees. 2. Refusal risk: Credit cards are at risk of malicious refusal for up to 180 days, while local transfers are usually irreversible payments and funds are safer. 3. Limit: Credit cards cannot meet the payment needs of B2B large funds.

Question 5

How do real users evaluate the current mainstream foreign trade collection methods?

Accepted Answer

Judging from the real feedback from a large number of foreign trade users, the mainstream foreign trade collection method is undergoing intergenerational replacement. Traditional banks are difficult to open accounts and have been widely criticized for their strict censorship, with many users evaluating their threshold as high as to dissuade them. On the contrary, the emerging technology collection channels have been widely praised for their fast account opening, good service and high digitization. However, users also objectively remind that they must identify platforms with formal qualifications and do not blindly choose black channels that lack supervision.

Processing Steps For Export Tax Refund Application

Exchange Rate Converter

Our Strength

24/7 RealTime Online Currency Exchange

Constant Access to Market-Beating Rates

FX limit orders

Hong Kong/Chinese mainland Company Registration

Send Money to China, the Most Cost-Effective Choice

Partner

Our licenses