foreword

Wanlihui, which is owned by Ali, supports more platforms than many domestic cross-border e-commerce payment and foreign exchange settlement platforms. At the same time, the fee is low (0.3% by default), and the declaration is simple.

cost issue

At present, after the new user registers, the transaction fee is capped at 0.3% (there is no fee for deposit)

support issues

Support Paypal (in principle, a company account is required)
Stripe support
Support Amazon, Adyen, Shopify, Ratuten and other e-commerce platforms
Does not support third-party payment, only the bound platform
Store-related information needs to be uploaded (website links, background screenshots, authorization, etc.)

RMB settlement

According to the requirements of domestic partners, RMB foreign exchange settlement requires you to provide real trade order information as the basis for foreign exchange settlement. Please authorize the store or upload relevant transaction records.

Theoretically, “RMB settlement quota” is required for onshore RMB payments to oneself (including bank accounts in mainland China, Alipay accounts) and to third parties in mainland China, excluding non-mainland China accounts

However, this quota has nothing to do with the 50,000 US dollars per person in mainland China per year, and is an additional approval quota for Wanlihui.

At present, it is very easy to apply for this small amount (you only need to write a CSV declaration yourself).

For large sums, I am not sure whether I will need physical logistics proof or something. It is not recommended to use this for large sums.

Registration Requirements and Thresholds

Prepare mobile phone number (non-+86 can also be), email, ID card
The bank account information of the recipient (including banks in mainland China), the recipient’s Alipay account (App)
E-commerce platform account (Stripe, Paypal, etc.)
Commercial website information (such as shopping malls, corporate official websites)

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Registration Flowchart ==> Expand / Collapse

First, the basic information. If it is Stripe or PP, there are no restrictions on whether it is in the name of an individual, a company, or a self-employed individual, so you can go directly to the individual.

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Note that US residents are not supported. Note that the selection of British companies will be reviewed by overseas teams, and non-mainland Wanlihui (similar to Kongyun).

Then fill in the business type

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Then it’s real-name verification, just use ID.

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Fill in the receiving account

As shown in the figure, when adding my account, there are restrictions on adding myself for the first time, and verification is required.

I can directly verify the mainland debit card here.

Then you can also bind Alipay

There will be no restrictions in the follow-up. You can give it to yourself or others (supporting banks and Alipay in the mainland), but pay attention to the amount of foreign exchange settlement of Wanlihui (if you give it to the account in the mainland in RMB)

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