How To Transfer Money When Your Country Tighten Foreign Exchange Regulation.
Recently, some country experienced short of US dollar reserve, which forces the government to restrict foreign exchange or even international trades. In many cases, you and your local bank have little effort to solve this problem.
Today we share some method which we have trade with lots of clients since our start-up. And it is the popular old way how our father and grandpa trades.
The alternative way is to contact your shipping agent, who must have a branch in China. They can transfer RMB to our China domestic bank account. You transfer the equivalent local currency to their bank account in your country. Our quotation is in USD, we will use the right and fair exchange rate for your China payment. And, you need to negotiate with the shipping agent about the fair exchange rate.
1. Is it illegal?
It is legal. China does have foreign exchange regulation but does not regulate such kind of trades. In fact, lots of Chinese people offer similar oversea purchasing services, check BBC`s news for more concepts.
2. Is it safe?
We strongly recommend that you cooperated with shipping agent that you familiar with and has recorded reputation.
If you did not have any shipping agent or friends in China, just wait until your bank could transfer exchange would be the right choice.
3. Any extra cost? Will it increase my cost?
No extra cost, and more efficient.
Our quotation will use the present exchange rate.
Your shipping agent would also offer a competitive exchange rate, for you might using their shipping service in many our cases. They take that as part of the deal and their solution.