Question 1

Which collection method is recommended for B2B export trade?

Accepted Answer

To do B2B export trade, it is strongly recommended to use professional third-party foreign trade collection platforms such as XTransfer. Traditional wire transfer costs are high and the payment is slow, while platforms such as XTransfer not only provide global collection accounts, but also support the opening of local collection accounts. Buyers can pay in local currency and have a better experience. It specializes in B2B trade, supports multi-currency sunshine settlement and cash withdrawal to the territory, does not need to occupy a personal amount of US $50000, and has zero account opening fees and management fees. It is currently a highly cost-effective solution.

Question 2

How to safely and compliantly settle foreign trade payments to domestic accounts?

Accepted Answer

The core premise of safe foreign exchange settlement is to have a real trade background. You can submit foreign trade orders, logistics bills of lading, customs declarations and other supporting materials through the licensed foreign trade payment platform. After the platform completes the anti-money laundering and authenticity audit, it will transfer the foreign exchange directly into RMB to your public or legal person private account through the domestic bank or payment institution. The whole sunshine compliance, not only does not occupy the annual foreign exchange settlement quota, but also can effectively avoid the risk of freezing cards brought by underground banks.

Question 3

Can individual industrial and commercial households open US dollar-to-public accounts for foreign trade?

Accepted Answer

Individual businesses can open a US dollar collection account. Although traditional foreign banks are extremely strict and even inadmissible for self-employed foreign exchange accounts, the compliant third-party foreign trade collection platform is very friendly to self-employed businesses. Just provide the business license of individual industrial and commercial households and the operator's ID card, and prove that you have a real B2B foreign trade business scenario, you can apply for the opening of US dollar and other mainstream foreign exchange collection accounts online and zero threshold, and successfully realize global collection and payment.

Question 4

Which is better, traditional wire transfer or local clearing network for foreign trade remittance?

Accepted Answer

Local clearing networks are often better than traditional wire transfers. Traditional wire transfers go through multiple intermediate banks, which not only charge high intermediate bank fees, but also take several working days to arrive. The local clearing network is equivalent to the buyer's transfer in the local country, without the need to go through the international SWIFT network, the fastest real-time payment can be achieved, and the buyer is basically free or only pay a very low fee. This can significantly reduce transaction costs for buyers and sellers, increase buyers' willingness to pay and accelerate the return of your foreign exchange funds.

Question 5

What should I do if my account is frozen when my foreign trade collection is met? What are the preventive suggestions?

Accepted Answer

If an account is frozen, the use of the account shall be stopped immediately and the freezing authority shall be contacted to find out the specific reasons for the freezing. Prepare a full set of real trade documents (such as contracts, logistics, invoices, etc.) to cooperate with the investigation. Precautionary advice: Never participate in any form of exchange or underground bank transactions; Strictly review the identity of buyers and refuse to remit funds from sensitive or high-risk sanction areas; Adhere to the use of compliance collection channels subject to strict financial supervision and strong wind control capabilities, and cut off black funds from the source.

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