Our Chinese company engages in overseas trade. What are the most commonly used and relatively safe payment accounts for clients?

There are three main channels, each with its own usage methods and precautions.

Channel 1: Traditional Bank Accounts

Corporate foreign exchange accounts for company transactions. Used for TT payments and letters of credit. This is the foundation.

But note: For withdrawals or settlements from corporate accounts, proper foreign trade documentation is required (contracts, invoices, customs declarations, etc.). Ensure fund sources and business compliance.

Channel 2: Third-Party Payment Platforms

Platforms like PayPal and Stripe are widely used in cross-border e-commerce, small payments, and sample fees. Advantages include convenience and good customer experience.

But there are freezing risks, so follow these rules: Strictly adhere to platform policies; ship goods and upload tracking numbers promptly; withdraw client funds to corporate bank accounts quickly—don’t let them sit idle.

Channel 3: Emerging Foreign Trade Payment Tools

For example, licensed institutions like XTransfer, PingPong FuTrade, and WorldFirst. These are designed specifically for foreign trade, allowing easy setup of multi-currency virtual overseas accounts for collections.

Benefits include fast remittance, transparent fees, flexible settlements, and avoiding intermediary bank charges. Especially suitable for small and medium-sized foreign trade businesses.

Summary: Large traditional trade transactions use corporate bank accounts; e-commerce and small B clients combine third-party platforms or specialized foreign trade payment tools.

Choose tools based on your business model—safety and compliance are always the bottom line!