Home – New Forums Starting your journey best way to transfer money to China Reply To: best way to transfer money to China

  • Total posts: 81

Hi Lisa,

Is the company’s bank in China or Hong Kong? If in China they do have limits on transferring to Chinese bank accounts, so if you plan to buy regularly from the same supplier it can end up being a problem.

I’ve used IMT and Paypal for Alibaba and IMT was great because I was with Comm Bank and the Chinese supplier had an account with HSBC Hong Kong. These banks work together, so when they told me they didn’t get the money it took two seconds for Comm Bank to say “they absolutely did and we can reverse it if they’re saying they didn’t”.

Of course when I told the supplier this, they found they had received it.

I’ve heard Escrow is great also.

Are you paying all up front or 30% deposit on order and the remainder once you get a bill of lading?