How Do I Effect A Wire Transfer Of Funds To A Chinese Supplier?

I Drink It Up!

Hi all, as part of my ongoing research into the viability of my business scheme, I have ordered a sample of units from a Chinese supplier.

They do not do PayPal and have requested that I pay them via Bank Transfer {PP}

Will any Bank do this for me? Do I bring cash, or do I need a bank account with money in that account? Can it be done in a post office?

Thanks.

Victor

You need the bank details of your supplier. Name, account number and the various sorting codes.

Do you trust the supplier?

I Drink It Up!

Victor wrote: »

You need the bank details of your supplier. Name, account number and the various sorting codes.

Do you trust the supplier?

Only one way to find out, I'm afraid. PS thanks for asking. Is there anyway of running a really effective check? The same girl has called twice from China, they have been very thorough, replying to emails, not too fast, not too slow, with the names and addresses of their firm, their shipping agent, contact numbers that actually are answered, etc.

I have all of their pertinent details, what I dont know is if I need to do this through a bank account or if there is another non-bank account related fashion.

Is my own bank account at risk if I use it?

Thanks your your concern and advice.

Cheers.:cool:

safesecure.ie

Hi OP!

Any samples I've got have all been done via my bank account, even when I got other people to complete the transfers for me, they would need to lodge the money to their account before the bank would transfer it. Some companies do offer Western Union Facility.

With regard to trusting the supplier, I've just always went with my gut feeling as alot of the suppliers I've dealt with have been hard to find references for.

Best of luck with it!

Joey the lips

I have done this before. Its no different than ny bank transfer

Bank Account Name

Account Number

Bank Name
Bank Address

Prefered method of transfere: Dollars/Euro


The bloody banks charge you for this transaction so dont be surprised if between bank charges, Import duties, courier fees etc you pay a heck of a lot more than the product is worth.

Then if you do order on "large" scale say a container load... Remember to the chinese... One container is a sample..


ps... its done through your bank... The bank try to encourage you to ask your supplier for a 30 day credit note however the chinese dont normally go for this and in any way its pointless with containers as they take 6-8 weeks from china.

ChinaImports

I Drink It Up! wrote: »

Hi all, as part of my ongoing research into the viability of my business scheme, I have ordered a sample of units from a Chinese supplier.

They do not do PayPal and have requested that I pay them via Bank Transfer {PP}

Will any Bank do this for me? Do I bring cash, or do I need a bank account with money in that account? Can it be done in a post office?

Thanks.

Hi,
You don't mention what the transfer value is, if it's a hundred euro or less ignore the following comments!

Unless you have a long standing relationship with the supplier in question I'd advise against bank transfers and insist on a reversible method like PayPal.

If the purchase is large it would be a good idea to visit the supplier pre-shipping or even on the day of shipping and check what's being sent. You could then pay for it by pre-arranging a phone transfer with your bank.

Just an idea or two from experience!

Good luck.

Joey the lips

ChinaImports wrote: »

Hi,
You don't mention what the transfer value is, if it's a hundred euro or less ignore the following comments!

Unless you have a long standing relationship with the supplier in question I'd advise against bank transfers and insist on a reversible method like PayPal.

If the purchase is large it would be a good idea to visit the supplier pre-shipping or even on the day of shipping and check what's being sent. You could then pay for it by pre-arranging a phone transfer with your bank.

Just an idea or two from experience!

Good luck.

Always a good idea to visit.... I can tell you loads of stories including a customer who bough a container of toilets with 2" outlets.... Pipe size in ireland is 4" for those who dont know.

However..... This is the catch... You need to order a certain value to make it worth the visit... and now the sample they supply does not always follow the batch.

J_Wholesale

Make sure that there are no errors on the transfer paperwork. If you mis-spell a name by even one character, the bank won't release the money. Chinese banks are rigid in this regard.

Also, you'll probably want to stand over your own bank to hurry them along. Insist that the money must arrive within 3 days. Sending money to China is not something that happens every day in most banks, and they're often happy to let your documents sit on a desk for a week or so gathering dust. (Bank of Ireland, cough, cough...)

I Drink It Up!

Thanks all for your considerate replies!:cool:

The sample is worth around €250 and that includes the €100 for the delivery. As it is a sample, I need it fast, so I can make a decision, and the product in question is rather plastique and high-tech, it is energy related. In fact the supplier has asked me what I intend to use the product for and upon my replying they pointed out that there was a superior alternative, for less money, and they immediately mailed me the specifications in an XLS file.


It's not a massive deal. The one thing I did have a worry about was releasing my name, address and bank details to a total stranger. My bank account is always empty, it's not really used except to make interest payments on an existing loan, so I am not bothered about it being fleeced by enthusiastic people who have an "urgent business proposition for me":rolleyes::D:D

I always thought that ETF happened instantly....I didnt realise it took days for the Bank get on with it. I will be forthright about the need for it to happen sooner or later.

The delivery is by DHL and I have been promised a tracking number, upon payment, of course.

It really does seem above board, so far.

I will be attempting to the transfer tomorrow so if anyone has any more suggestions I would love to hear them.