foreword
It is recommended to register with a third-party invitation link, otherwise it will be very pitiful (withdrawal fee) [recommended to use a partner]
Partner’s blog address: http://pka.topworker.cn
Partner’s invitation link My invitation link [All deposit 1000USD get 25USD]
In addition, it should be noted that all major aff sites are available, but they are mainly based on the experience of enterprises and individuals in China (including Hong Kong).
register
Individuals in mainland China can register directly with their ID cards
It can also be registered with companies in mainland China and Hong Kong, British companies, etc.
Note that when registering a British company, please do not mix addresses, either all Chinese addresses or all British addresses, otherwise the audit is likely to be difficult.
In addition, legal persons/individuals of Chinese nationality should be forced to use mainland Chinese ID cards, and passports are not supported. This is indeed suitable for refugee users without passports.
My own personal account was registered very quickly at first, but it was later cancelled due to idle fees.
Foreign exchange settlement amount
No matter how you play this thing, it does not occupy the foreign exchange settlement quota, and currently there is no need for any declaration materials.
I use UK company to pay CN personal, my account, it will arrive in the account within about 30 minutes, it shows that the payer is Shanghai Fuyou Payment Co., Ltd.
The effect of withdrawing the balance is similar to that of Alipay. After inspection, it does not occupy the foreign exchange quota.
Deposit method
Taking a UK company as an example, I opened an account with GBP, EUR, and USD by default, and a credit card request for billing.
There is generally no additional handling fee for bank deposits (small US dollar charges)
Watch out for these accounts
- Same-name payment is not supported
- Personal payment is not supported
- Non-company payment is not supported
- Withdrawals are not supported
USD ACH account
Currently mainly First Century Bank and Community Savings Bank.
GPAY binding and Plaid binding are not supported.
It should not support small-amount verification (will refuse to deduct).
Theoretically supports third-party platforms such as Google, Amazon, Stripe, PayPal, etc. (but may not be bound)
Support Apple (Cash) deposit, support WISE deposit
The effect is as shown in the figure
However, if WISE remits itself in its own name, and its own company remits its own company, I’m not sure if it counts as the same name (“The payment to the bank account in your name will be rejected”)
Credit card deposit
My UK business owners can initiate payment requests, support credit and debit card payments, and the fee is 3%
Will force the other party to register payoneer
Withdrawal method
Fiat Withdrawal and Payment
You can withdraw cash in two ways: withdrawal and payment. It is possible to pay to yourself, and the company can also give to the account of a legal person. You can also pay other suppliers or something, but I don’t know if you need materials to prove it.
Then no matter how you withdraw money, the handling fee will not run away, for example, I am 2%
This feature is to support Chinese mainland banks, and does not occupy foreign exchange quotas, direct RMB, the price is the Bank of China’s spot exchange purchase price, and then the exchange rate includes handling fees.
According to the collaborators, the reason why my UK company is 2% may be related to self-help or UK companies. Mainland individuals and enterprises are generally 1~1.2%, and they can apply for 0.5% or lower.
Adding your own account may require you to fill in an ID number and then take a few hours to review
debit card
You can apply for a debit card with a deposit of more than 100USD, but the cost is relatively pitiful, only for refugees, right? There are also annual fees and super high freight forwarding.
Fee reference
Be sure to pay attention to the idle fee, which requires fund transfers such as transfers every year
Reduce fees
Tell me directly and clearly that it is not worthy at present, 2% is really not fun, it may be better to open another individual account for mutual transfer.
Risk notice
①Chinese platform, there may be cases of black people eating black people, pay attention to the risk of capital loss
②In principle, commercial funds, not personal deposits, are not allowed for non-commercial purposes (including donations, P2P, gifts)
③Do not rule out the need for transaction proof materials, especially offline and physical products
④ It is not clear about the risk control of non-entity capital turnover
⑤ Due to the low threshold and the abuse is very serious , it is not recommended to take money from gateways with risk control, which can easily be regarded as fraud by gateways (such as Paypal and Stripe)
⑥ Do not randomly transfer other people’s P on the same platform . Many illegal and criminal funds such as money laundering, fraud, and running points have been arrested, and many people have been arrested.
⑦Cryptocurrency, gift cards, remittance, VPN, game items, etc. are restricted businesses, please read https://www.payoneer.com/legal/restricted-businesses/
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