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Sending Money to China


Simon Lovell

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If you want to make a purchase in a foreign country .......especially when that country is China, then these few bits of information may of use. Hopefully others will add there own experiences and advice.

If you are dealing a large successfull exporting business with its factory in China then chance are that it will have Ltd Company with an HSBC account in Hong Kong and for a small charge you can arrange a transfer direct into their account from your local bank.

However with a smaller business solely operating within China then you need to understand that Ltd companies do not exist in the way we understand it over there and you will be sending money to an individusl person........who you may not know!

There are two ways of doing this.

1. Using Western Union: You can either open an account online which should give you an £800 limit which will be increased once you have gone through their verification process, or going to one of their many agents and paying it through them via cash or card. They will take a small fee.

2. Using a Moneygram from either the Post Office or Thomas Cook. You will need to go down in person with cash or card.

In either case you will be sending the money to the "whole" of China. As long as the person who you are sending it too can prove who they are then they can go and collect the money from any of the many agents spread across the country.

There are no come backs of course.

..Regards....Simon Lovell.

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I used PayPal to pay for my EUC, which gives you some amount of buyer protection. They usually charge a few percent as a fee, but it is worth it if you are sending money to the other side of the world and someone you do not know.

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Western Union is not advisable if it is your first transaction with a new individual in China. There is no purchase protection and you give your whole trust to the supplier that he will deliver the goods and make good for whatever initial defects you may find upon receiving your item. The best way is either Paypal or Alipay.

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Yes Paypal is great, I have not used Alipay myself. However I have found that it is mostly only Retail outlets that offer these options. If you are dealing directvwith the manufacturer they probably won't be able to oblige.......Of course trade prices is an incentive to taking a risk......but no guarantee that it will be worth it!

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I also think that when dealing overseas Pay Pal is the most reliable options. There are many cases of fraud, coming up due to online transactions now a days. One needs to be very careful while making transactions online internationally or within the country. A few days I have gone through a blog which was basically based on forum droit du travail, there also few important points were shared that one need to consider while making online business transactions.

You can read this post here.

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