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For many friends who do foreign trade, collection and settlement of foreign exchange is a headache. Especially for foreign trade SOHO, whether it is affiliated with foreign trade companies or Hong Kong bank accounts, there are many inconveniences. Especially for transactions of a few thousand dollars or less, is there a way to sit at home and easily complete the collection?

Payoneer's account helps you solve this problem:

Payoneer Inc., founded in 2005 and headquartered in New York, is a venture backed company with strong profitability and is listed as Inc. Top 100 of the magazine's top 5000 financial services companies. Payoneer Inc. provides round-the-clock cross-border payments services in more than 200 countries, enabling millions of businesses and professionals to reach new audiences. In addition, thousands of high-profile businesses like Google, Airbnb, Upwork and Getty Images rely on Payoneer's bulk payments service. With Payoneer's fast, flexible, secure, and low-cost solutions, businesses and professionals in developed and emerging markets can now make payments and receive payments globally as easily as they do locally.

If you haven't registered your Payoneer account yet, please click on the [Payoneer Offer Registration Link]. Apply for Payoneer through this link and you will receive a $25 reward and enjoy a 1.2% discount directly: not only free of charge, but only 1.2% fee for all currency withdrawals. No exchange loss. When you accumulate $1000, you will receive a one-time reward of $25. For more information, see: How to register Payoneer Card? Payoneer Personal Account| Company account registration process detailed explanation!

After registering Payoneer's account, you can open a collection account in 6 currencies (new Mexican dollars) in the United States, Europe, Britain, Japan, Australia and Canada to help you easily collect foreign trade orders, as shown below:

So, after having Payoneer account number, how do we collect foreign trade customer's money specifically? There are three ways, and we'll explain them in detail.

Method 1: Payoneer "request payment" method

If you've been invoicing customers by email, or communicating payments via Skype, phone or SMS…If you've been struggling with B-side collection instability and traditional collection methods that favor buyers, Payoneer's multi-channel, fast, secure and low-rate Billing Service can help you. Check out a step-by-step tutorial on how to request payment using Payoneer! Click on Request Payment (see step-by-step tutorial here), how customers pay and payment instructions see: Payoneer How to pay? What are Payoneer payment methods?

Advantages of "Request Payment"

Meet multiple usage scenarios: When conducting international business, it is important to accept multiple payment methods and simplify the payment process for customers. Payoneer's Billing Service offers your customers several options for simple, secure online payments to you, including credit cards, bank debit (e-check) or local bank transfers.

Safe and transparent transaction process: receive a large order, but it is a strange customer? Payoneer ensures fair and transparent transactions, so that you and buyers can trade with confidence.

Low cost, quick withdrawal: the cost of the commonly used way of playing too high, and customers back and forth grinding fees? Payoneer charges as low as 1% and can quickly convert your funds into RMB into your domestic bank account.

Maintain good financial management: Being aware of all your payment requests will help you keep up to date on outstanding payments. Dealing with late payment customers can be difficult, but we can help you. Just set up a reminder in your account and we will send emails to customers who haven't paid yet. Say goodbye to awkward emails and phone calls…We have professional templates and automatic reminders to help you track payments.

Payoneer's "request payment" only charges a handling fee. You can communicate with the customer who is responsible for paying the handling fee. The payee does not deduct the entry fee. When the payment arrives, you can withdraw it immediately. When you withdraw it, you will be deducted 1.2%. That is to say--

Payonneer "request payment" collection, in the case of customer payment fee, you only need to pay 1.2% withdrawal fee, Payoneer according to the current real-time exchange rate settlement to you RMB, does not occupy 50000 ×× line, compared with Paypal, Paypal needs 4.4% + 0.30 + 1.2%(Paypal canceled the quick payment withdrawal, now can only withdraw to Payoneer account, and then withdraw to the domestic bank card), Payoneer's handling fee is only 1.2%, much cheaper than Paypal.

Supplement: Collect directly from your customers: Billing Service allows you to initiate payment requests from your account and receive payments directly. (Credit cards (all currencies) 3%; eCheck (USD) 1%)

Method 2: Payoneer online payment function between accounts

If your partner customers also have Payoneer accounts, it's even easier. Payoneer account balance transfer directly, just like two Alipay accounts transfer each other, completely free, and then through Payoneer bound bank card cash withdrawal, the process is similar to Alipay. The function of transferring amount between accounts is very simple, so I won't mention it more. For details see: How to use Payoneer online payment between accounts?

Method 3: Payoneer USD offshore account receives customer wire transfer payment

Due to Payoneer's Global Payment Service, the US virtual bank account in USD currency can only realize localized collection (US companies remit money through the ACH system of US banks, Europe uses the SEPA system, and other countries use localized banking systems for remittances). Up to 7 currencies.) It is not possible to receive remittances from global accounts.

Therefore, Payoneer also provides Wire Payment Service, which is actually equivalent to the offshore virtual sub-account cooperated with Citibank. Payoneer USD offshore accounts are issued by Deutsche Bank Trust Company America and account information is integrated into existing Payoneer accounts.

Payoneer offshore accounts have the following advantages:

Individuals or companies can apply to support mainland/Hong Kong/Taiwan companies;

Free account opening, no need to open another offshore account in Hong Kong, thus reducing costs, there is no risk of account closure for no reason;

After the funds are credited, they can be withdrawn from Payoneer to the bank cards of companies/individuals in China/Hong Kong according to demand to diversify risks;

When withdrawing cash to personal bank card, RMB will be settled directly, without occupying personal USD 50,000 ××× limit.

Payoneer can allow companies or individuals to use offshore virtual sub-accounts (awesome here, not limited to foreign trade companies, Soho individuals can also use), the receiving company can use the company name set by the individual himself, the account number uses the bank account number of Payoneer offshore account, the whole process does not affect the collection!

It is equivalent to calling Payoneer offshore account bank first, and then withdrawing cash to domestic bank for settlement through Payoneer. It does not occupy the quota of 50,000 US dollars from SAFE, nor does it involve the issue of offshore RMB. Payoneer has filed with SAFE in China.

Payoneer currently supports direct withdrawals from offshore accounts in the US to mainland China or Hong Kong.

Mainland China supports the remittance of RMB and USD, Hong Kong supports the remittance of USD, Hong Kong dollar, British pound and Euro. When withdrawing cash to the mainland account, RMB exchange is based on the spot exchange purchase price of BOC on that day, so it can be said that there is basically no exchange loss.

If you are worried about opening a Hong Kong offshore account, you can also use Payoneer's offshore account to collect money. Using Payoneer's offshore account is almost no different from using your Hong Kong offshore account. It solves the problem of helping SOHO individuals or foreign trade enterprises to use offshore accounts to collect and settle foreign exchange.

How to apply for Payoneer USD Departure Account?

First, you need to register for a Payoneer account.

If you haven't registered your Payoneer account yet, please click on the [Payoneer Offer Registration Link]. Apply for Payoneer through this link and you will receive a $25 reward and enjoy a 1.2% discount directly: not only free of charge, but only 1.2% fee for all currency withdrawals. No exchange loss. When you accumulate $1000, you will receive a one-time reward of $25. For more information, see: How to register Payoneer Card? Payoneer Personal Account| Company account registration process detailed explanation!

2, and then call or online Payoneer customer service to apply for US dollar offshore account information. Free of charge and enjoy the lowest rate of the year.

Note that when applying for this business, you need to provide your basic information to the Payoneer Manager. The name of the company or individual, the basic information of the business, the main products made, the website address, and even some basic business documents. Because to have a basic understanding of your business, at least know that you are not illegal money laundering.

Summary:

With Payoneer account, whether it is US dollars, euros, British pounds, Australian dollars, etc., customers can pay so easily, customers are relaxed, you are also convenient. Only need to associate a domestic bank card, you can settle foreign exchange and withdraw cash in one step, the same day to the account RMB, the key does not occupy the individual 50,000 US dollars settlement limit. Even if it is a person doing foreign trade, in the details of collection, we can also do the same professional and convenient as large companies! Working with your overseas customers has never been easier. Ready to collect?

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