For payment we have 3 ways most:
- Bank account
- Western Union
They have themself advantage and disadvantage each way.
1. Bank Account
Generally our order need 30% deposit, and when goods finished we will send video and photo, goods details to you. before shipment paid balance. or 70% balance against copy of BL by sea.
The buyer first deposits the payment to the bank, and the bank opens a letter of credit to notify the seller of the foreign bank to transfer the bank to the seller. The seller delivers the goods according to the terms stipulated in the contract and the letter of credit, and the bank pays on behalf of the buyer.
2. About paypal
Paypal payment is most fast in this world. very convenient. but it also have advantage and disadvantage.
Advantage: Fast, safety
Disadvantage: Handle fee is pretty high: normal payment have 4.5% handle fee, so it just use for small amount such as sample charge, express cost is very convenient. but for large amount not suitable. Paypal have another policy, about friend gift use, there is no any handle fee.
3. About western union
Western union is fast, and cheap handle fee, compare to paypal and bank, this is best way for amount more than 500USD.
Fill out the remittance form
Fill out the form provided for you and show your partner an ID card or other ID issued by the government.
Payment remittance fee
The amount to be remitted is handed over to the partner along with the necessary service fees.
Sign and receive the receipt
After you have confirmed that all the information on the receipt is correct, you will need to sign a receipt. One of the contents printed on the receipt is your Money Transfer Monitoring Number (MTCN). You can use MTCN to connect online (online) to track the status of your money transfer.
Notify the payee
Get in touch with your payee and tell him/her some necessary information, such as the name of the sender, the amount of the remittance, the money transfer monitoring number (MTCN), and the country of the remittance.