How to Make Payments to Chinese Suppliers Through Their Alipay Account
How to make payments to chinese suppliers through AliPay
Not many people are aware of the fact that you can make a direct money transfer from your bank card to the Alipay account of a supplier. In this article, I'll walk you through each step of Alipay's international money transfer service, and I hope that by the time you're finished reading it, you'll have another option for paying your Chinese contractors.
What Is Alipay Express Money Transfer and How Does It Work?
China is a country where almost every individual and merchant has an Alipay account, which means that if you can send money to a Chinese supplier's Alipay account, you can conduct business with him regardless of whether the supplier is from Alibaba, 1688.com, or Taobao, for example. Unlike PayPal, however, Alipay does not function as an international payment tool, making it difficult for foreigners to fund their accounts and transfer money directly to Alipay. Because Alipay understands the need for cross-border money transfers from both foreigners and domestic people, it has developed a service that meets this need. As a result, they have formed partnerships with well-known money transfer companies in a number of countries to provide a convenient cross-border money transfer service that allows foreigners to send RMB directly to Chinese Alipay accounts. The service is referred to as Express Money Transfer() in the English language. Alipay users in China can use this service to receive international remittances in RMB, which is a Chinese currency. You can send RMB to your supplier's personal Alipay account; however, their business account is not supported at this time. It is important to remember that your supplier can only accept a maximum of 5 transfers per month. Additionally, there is an RMB 50,000 limit on the amount of money they can receive in a single transfer and an RMB 500,000 limit on the total amount of money they can receive in a year.
Is it a supporter of my country?
Because of its collaboration with domestic banks and international money transfer platforms, Alipay enables personal Alipay accounts to accept RMB remittances from more than 100 different countries around the world, including China. In addition to these 12 platforms, Alipay currently supports the following: As you can see, these platforms cover the vast majority of countries in the world, but the rates charged by each platform vary widely. I tested the fee estimator on their website and discovered that the cost of the transfer is approximately 1 percent to 3 percent of the total amount of your transfer. To put it another way, if you transfer 10,000 RMB to your Alipay account, you will be required to pay fees of approximately 100-300 RMB. As a result, you must select the most appropriate platform for your country and the rates offered by these platforms.
How to Make a Money Transfer Using Alipay Express
Use of this service is extremely simple; you do not need to download the Alipay app and you do not need to have an Alipay account in order to make use of it. Simply follow the five steps outlined below to get started: Step 1: Obtain the supplier's Alipay account information. Most Chinese suppliers have an Alipay account, but you must first inform him of your desire to use the service, and then you can proceed. You can instruct him to look for the character "" in the Alipay app in order to complete the activation. The entire activation procedure is straightforward, and he can complete it in less than a minute. Then you'll need him to provide you with the following information:
- Alipay ID (Alipay ID)
- Last name(s) First name(s) Place of residence(s)
- The Alipay ID is the email address or mobile phone number that he provided when he registered with the service.
Step 2: Select a Money Transfer Service Provider
Alternatively, you can select one of the transfer platforms from the list I've provided above. Each platform offers different deals and discounts to new users, so it's a good idea to search for the most recent promotions for new users before you sign up with one of the platforms.
Step 3: Fill in the Transfer Information Form (if applicable).
After you have completed the account setup process, you can begin transferring funds. Here is a brief explanation of the transfer process, using the website wise.com as an illustration: First and foremost, you must select the appropriate currency and amount.
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