What are the methods of remittance from a domestic company to a Hong Kong company?

The traditional trade remittance methods are: wire transfer, letter of credit and collection, among which, letter of credit and wire transfer are more common in the large amount of remittance scenario, but in the "decentralization" and "order fragmentation" of the international trade trend, belonging to the banking credit The "letter of credit" is difficult to meet the collection needs of individuals and small businesses, but instead, wire transfers, which are a form of commercial credit, are being used by more and more foreign traders.

A bank wire transfer

The wire transfer belongs to the commercial credit, for Chinese exporters, there is the risk that the customer can't receive the payment on time, but with the gradual fragmentation of the order, this risk is gradually becoming smaller, and the advantages of the wire transfer come to the fore.

First of all, the coverage of the wire transfer is wide, the payee can use the wire transfer for global collection; secondly, the wire transfer is carried out by the bank through telegrams, telexes, and other businesses, which is conducive to the payee to be able to safely recover the payment; finally, the wire transfer fee is low compared to other ways, has a great advantage, and exporters can choose to bear the fee with the customer ****

2, Western Union

Western Union is the abbreviation of Western Union International Money Transfer Company, is the world's leading express money transfer company, so far has a history of 150 years, it has the world's largest and most advanced electronic remittance financial network. It has the largest and most advanced electronic remittance financial network in the world. Its agents are located in most countries around the world, and currently there are a number of cooperative banks in China, such as the Agricultural Bank of China, China Everbright Bank, China Construction Bank, etc., which can provide fast remittance services with the withdrawal of the money within 15 minutes, and the recipients do not need to pay the handling fee.

Western Union is a traditional transaction mode, although it also supports sending and receiving remittances through Western Union cooperative bank branches and electronic channels, but it will affect the exporter's order volume due to its bias towards protecting the seller's interests.

Advantages:

1. Safe, collect the money first and then deliver the goods, which protects the seller's interests;

2. Recipients do not need to pay any additional fees when collecting remittances in China.

Disadvantages:

1. remittance fee charged by pen, for small amount of collection fee is high;

2. many times buyers will not believe that my first time to work with you, I made a payment to you, you don't ship the goods to me how to do, so therefore give up the transaction, if this customer is a big customer, then our loss will be big;

3. belongs to the traditional type of transaction mode, some banks still need to go to the counter to collect payment.

Three, Panda Express

Panda Express was founded in Hong Kong and holds an MSO license issued by the Hong Kong government. The goal of Panda Express is to use financial technology to change the way of cross-border remittance, to provide overseas Chinese people with fast arrival, convenient operation, very cost-effective remittance services, as long as a cell phone, you can cross-border remittance China.

Currently, Panda Express has legal operating qualifications in Hong Kong and many European countries, Australia, Japan, South Korea, Singapore and more than 30 other countries and regions, with corresponding licenses and permits in the central bank areas of each country, and the data encryption technology has been certified by the PCI-DSS, which supports more than 500 receiving banks in China.

Advantages:

1. Low handling fee, 30,000 HKD 30 HKD service fee, and from time to time there will be fee-free activities.

2. No surcharge, exchange rate is higher in the market.

3. Security, with a Hong Kong MSO license.

4. Fast remittance, 2 minutes to the account.

Disadvantages:

Maximum limit of HK$30,000 per remittance, although multiple remittances are possible, but large amounts are more troublesome.