![]() ![]() As a result, it’s best used for small orders and samples.Īlso keep in mind PayPal's complicated protection policies, especially when it comes to cross-border transactions. However, many suppliers in mainland China don’t accept payments through PayPal for large or complete orders. Thanks to its robust Chinese language interface, PayPal has garnered a significant user base in China. It allows you to transfer money straight from your smartphone, making it an attractive option for those looking for convenience, but you’ll be charged a fixed 3%-5% transfer fee as well as currency conversion fees, which can add up over time. ![]() With nearly 400 million active accounts worldwide, this global leader accepts a variety of credit and debit cards, along with seller protection, 24/7 fraud monitoring and even two-factor authentication. There is also little-to-no recourse once you transfer your payment, which means some degree of risk for both the buyer and supplier if things go wrong. The downside to bank-to-bank transfers is that it’s relatively slow, ranging from a few days to a few weeks to complete the payment. If both you and your supplier have USD accounts in Hong Kong, you can simply transfer money locally and save on the logistics as well as international transfer fees and foreign exchange conversion fees. There are no capital controls in Hong Kong, so many mainland China suppliers have business accounts in Hong Kong to facilitate the transfer of money. If you choose to opt for this payment method, we recommend that you open a business bank account in Hong Kong, as separating your business finances from your personal finances can benefit your company in the long run.Īs with every other country, China's largest and most reputable international banks use the standard international SWIFT code system for reliable money transfer between accounts, with a transfer fee of $35-$45, excluding currency conversion fees. Here’s a list of the available payment methods you can use in mainland China:īank transfers have been around for a long time and are a widely accepted form of payment among mainland China suppliers.
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