Question 1

In the global mainstream foreign trade market, which payment method is the safest for enterprises?

Accepted Answer

For the global mainstream market, the safest way to collect money is to rely on a local collection account opened by a compliant third-party platform with a local financial license. Such accounts are strictly regulated and the flow of funds is transparent. By establishing an enterprise-specific local account, the buyer's payment is as simple as paying for local goods, and it can also perfectly avoid the risk of intermediary bank deduction and anti-money laundering.

Question 2

How to legally settle the foreign trade US dollar payment to the domestic account?

Accepted Answer

Compliance settlement requires foreign exchange declaration through legal channels. First, PI, logistics documents and customs declaration documents are submitted to the collection platform at the time of entry to prove the authenticity of the trade; secondly, withdrawal is initiated using the sunshine settlement function built into the platform; finally, the funds will automatically complete the balance of payments declaration and transfer to the domestic bank account of the enterprise or legal person in RMB, which is subject to supervision and protection throughout the process.

Question 3

What are the ways to collect US dollars for SOHO, a newly started foreign trade without import and export rights?

Accepted Answer

SOHO, which has no import and export rights, has two main ways to collect foreign exchange in compliance: one is to collect and export on behalf of domestic foreign trade integrated service enterprises, and the funds are settled by the agent to pay profits; the other is to register individual industrial and commercial households or domestic companies, so that the main body applies for enterprise collection accounts on third-party cross-border financial platforms. The latter is more autonomous, the funds do not go through third-party trading companies, and the settlement of foreign exchange is more flexible.

Question 4

Compared with traditional international wire transfer (T/T), what are the advantages of local collection accounts in B2B transactions?

Accepted Answer

Local collection accounts have obvious advantages: first, the cost is extremely low, and buyers do not need to pay high SWIFT international wire transfer fees and intermediate bank fees; Second, the account is received very quickly, mostly through the local clearing network, and the account can be received in real time as soon as possible. Third, the trust degree is higher, and buyers are more willing to make payments to domestic bank accounts, which can effectively improve the conversion rate and payment experience of foreign trade orders.

Question 5

To assess whether a cross-border collection platform is reliable, which core indicators should be focused on?

Accepted Answer

There are four core indicators to evaluate the reliability of the platform: first, whether it has the regulatory compliance qualification and whether it has the payment license of major global financial markets; The second is to look at the fund security isolation mechanism and whether the customer's funds are deposited in the international first-class clearing bank. Third, look at the wind control system and whether there is a professional anti-money laundering team. Fourth, look at hidden charges, exchange rate transparency and whether there are unknown account management fees or cash withdrawal fees.

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