FAQ

Question 1: What services that eTradePay provides?

Answer: Overseas Business Payment Collection, Settlement, and Speed Cash Withdraw.

Question 2: What are required document for supplier registration?

Answer: Chinese & English Business Registration Name, Corporate Tax Identification Number, Company Customs Reporting Number, Business Registration Address, Name of Contact Person, Phone Number and Email Address.

Question 3: Does the domestic settlement account must be corporate bank account?

Answer: Yes, it must be domestic corporate bank account.

Question 4: What is the exchange rate for settlement?

Answer: The foreign exchange rate is provided by ICBC’s real-time foreign exchange service, for more details, please refer to ICBC foreign exchange rate table: http://www.icbc.com.cn/ICBC/EN/default.htm

Question 5: What are the currencies for collection, cash withdraw, and settlement?

Answer: Collection and Cash Withdraw in USD ; Settlement in RMB.

Question 6: How long does it take for Cash Withdraw and Settlement?

Answer: Cash withdraw: 3 business day after application;
Settlement: 2 business day after application.

Question 7: What is the difference between eTradePay and other payment tools? And what is its advantage?

Answer: eTradePay is not just a payment/collection tool, it integrates bank account, customs clearance, warehousing (inventory & logistics) and e-commerce transaction information into a trusted and secured online to offline cross border commerce practice.

Question 8: What is the requirement for product storage location while using eTradePay?

Answer: When transacting by eTradePay, the selling product must be stored / temporarily stored in Shenzhen Qianhai Bonded Port Area.

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