Difreight Blog How to transfer money to your supplier in China?

How to transfer money to your supplier in China?

How to transfer money to your supplier in China?

The first thing for a successful money transfer is understanding the supplier's currency.

Suppliers in China may issue an invoice in US dollars or RMB and include all relevant payment details.

A dollar payment is typically made via SWIFT transfer (usually takes around three business days).

The transfer in RMB currency can be made directly to the supplier account.

It is good to know that the best option to pay a supplier is to discuss partial payment with the Chinese side. For example, split the payment into two transfers: 30% and 70% of the total cost. To start the payment process, the Chinese supplier must first issue an invoice so that you can choose the correct payment method.

The invoice must include:

  • legal information (company name and registration numbers);
  • delivery terms;
  • product information;
  • contacts of the manager or company representative;
  • an official stamp;
  • shipping costs the seller covers.

By working with DiFreight, we can assist you and provide three solutions for the seamless payment process:

  1. SWIFT transfer in dollars with the company's payment details. Payments in dollars can take up to three business days.
  2. Assistance with money transfers via Alipay in RMB. Payments are typically completed within one business day.
  3. Payment in RMB directly to the supplier using the company's payment details.

The payment assistance service is an additional service that is included in an all-inclusive package for working with China. It covers negotiation with the supplier, buying the goods, payment procedures, checking the cargo, and shipping it to Ukraine. It's as simple as that: You give us the link to the product, and we cover the entire logistics process.

According to our experience, many unpredictable issues may arise with invoices. The most common one is almost identical Chinese companies' names. Therefore, it is necessary to be attentive even with such minor details as the company name and carefully compare the names of the company you buy from and the company you pay for.

So, dear friends, here are some small tips for you:

  • avoid paying the supplier 100% of the price
  • carefully check all items in the invoice.

Our company wishes you successful deals and responsible suppliers. We are here to assist you with any questions.

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