Selling to China: How to receive payments?

[JimmyWho]

I want to start selling my products to china. I expect 200,000RMB per month in revenue. I would like to receive payments by bank transfer or wechat/alipay. Either method would work. I do not want to open a Chinese company. I do have a personal bank account in China. However, I do not want to use it for business and do not want to get money stuck due to China's forex rules.

Can anyone recommend solutions for me? I was thinking about payoneer. However, I am not clear on what their hidden fees per transaction will be. Are there any other solutions I should evaluate? Is it possible to link wechat to an offshore account and receive money from mainland Chinese?

 

[TurnedToRobot]

JimmyWho said:
money stuck due to China's forex rules.
Click to expand...

Interesting, what is it you want to sell to China?

In order to be able to suggest any solution or help you to find something useful it is required to know what it is you sell and if you already have tried to get a bank account?

If Payoneer's fees will kill your business you don't have a business!

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[fshore]

Stripe and many other payment provides supports alipay, some also wechat. So you can use a UK or other company to receive payment from your Chinese customers.

 

[JimmyWho]

kanakke said:
Interesting, what is it you want to sell to China?
Click to expand...

Actually, my product is already being sold to China via some of my re-sellers. Considering I can speak Chinese and my resellers can't; it makes no sense that I am not selling directly to my Chinese customer base.

kanakke said:
If Payoneer's fees will kill your business you don't have a business!
Click to expand...

They won't. I just don't have a clear picture of what they will be. Is it 2% above mid market rate and that is it? No fixed fee?

fshore said:
Stripe and many other payment provides supports alipay, some also wechat. So you can use a UK or other company to receive payment from your Chinese customers.
Click to expand...

Can I receive payments directly from Alipay and Wechat to a foreign company? When I lived in China for a while I remember many people use to link Wechat to their Hong Kong bank accounts. I couldn't figure out how when I tried to do it in the app yesterday.

 

[JimmyWho]

Also I am somewhat sceptical of Payoneer. I signed up to an account using completely fake details to have a look at their product on the assumption they would reject my clearly fake account. The next day I got an approval email. The name was Just Testing. The ID number was junk. The bank account number was just 9s. I mean come on? Clearly a human didn't look at my application! KYC my a*s. Now Mr Just Testing can receive money using Payoneer 🙄.

 

[fshore]

JimmyWho said:
Actually, my product is already being sold to China via some of my re-sellers. Considering I can speak Chinese and my resellers can't; it makes no sense that I am not selling directly to my Chinese customer base.

They won't. I just don't have a clear picture of what they will be. Is it 2% above mid market rate and that is it? No fixed fee?

Can I receive payments directly from Alipay and Wechat to a foreign company? When I lived in China for a while I remember many people use to link Wechat to their Hong Kong bank accounts. I couldn't figure out how when I tried to do it in the app yesterday.
Click to expand...

Yes you can receive alipay/wechat payments with a foreign company. This is not related to chinese users linking their wechat to a HK bank account.
Alipay Payments with Sources | Stripe

 

[JimmyWho]

Payoneer's china bank details can only be used to receive payments from marketplaces.

 

[LimaDelta]

JimmyWho said:
Actually, my product is already being sold to China via some of my re-sellers. Considering I can speak Chinese and my resellers can't; it makes no sense that I am not selling directly to my Chinese customer base.

They won't. I just don't have a clear picture of what they will be. Is it 2% above mid market rate and that is it? No fixed fee?

Can I receive payments directly from Alipay and Wechat to a foreign company? When I lived in China for a while I remember many people use to link Wechat to their Hong Kong bank accounts. I couldn't figure out how when I tried to do it in the app yesterday.
Click to expand...

Yes you can. Either Alipay/Wechat will send money directly to your foreign business in a few currencies. All of the major ones. There is a small fee, like 2% or whatever. No hassle, no Chinese company, you don't need to go to China. I have thought about this but never went through with it. Please make a write up of the whole process if you do. That is about the only way to do it without a Chinese company or Chinese distribution buyer, legally/headache free.