Marketing/ March 11, 2021/ News

There are many forms of payment for foreign trade, in reality this is always an agreement between buyer and seller, but everything is based on trust and security measures to confirm the purchase. I give you some recommendations when making the payment of your products to Chinese suppliers, now that you have decided to import.

1) Bank Account Transfer of Chinese suppliers:
If you are going to pay by bank account, make sure that the account is from a real company in China and is not a personal account. This is very important to ensure that you are paying the company that is quoting you.

2) Western Union:
It is not safe to pay by this means since you are only sending to personal accounts and you could not ensure that the money goes to a company. Then if the contact disappears you have no proof of payment. It is not advisable to pay by this means unless you have a lot of confidence with your provider.

3) Payment by Paypal:
It is the safest form of payment, since you have a platform through which you can make claims if there is a problem with the arrival of your product or with Chinese suppliers. But you should always pay to a Paypal business account, avoid paying to personal accounts to avoid future problems.

4) Credit Cards:
In this case it is better to make the payment through gateways such as Paypal, you can also pay through the provider’s website if it has a virtual store like in Aliexpress, but always make sure that the website has HTTPS activated.

Always verify that you pay to a company account, both in bank account and Paypal. The company names on the invoice and on the accounts must match, and don’t be attracted simply by the price and shipping promises, make sure you know your Chinese suppliers.

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