Bank Wire Transfers:
from your bank to the Bank of China is preferred for factory production. It is
the professional method of payment among international traders. All our bank
info will be emailed to you if you choose this most popular method. It only
takes one or two days for the transfer arrival if your bank has direct
correspondence. Chinese banks are open all weekend! This helps to expedite your
Hidden Bank Fees:
Hidden bank fees
deducted will be charged back to the you.
These can be incurred if you have a smaller home town bank. Many
larger banks with international, commercial business divisions have direct
correspondence with Bank of China. Don't worry, if yours doesn't, the transfer
is still easy. However, a third bank will become involved, and they often
charge an additional US$10-30 fee to assist your bank in the transfer.
Our low FOB quotations do not include this possible hidden fee.
Any transfer that arrives short the correct amount will be re billed to you.
Sorry to say that $30 is a weeks salary for some employees and we can't absorb
the loss. Any wire transfer shortage can be paid for via PayPal. Bank of China
charges nothing to receive payments at our end.
Letter of Credit:
Referred to as an
"LC", it is a formal financial document utilized in large international
transactions. Normally used by "container" customers, or for high value goods,
often in the millions of dollars. Both our banks would be involved. It offers
protection at both ends for successful conclusion of production and delivery.
You can inquire with your commercial banker. LC's are troublesome for small
dollar amounts. We prefer direct wire transfer to our Hong Kong or Beijing
Domestic distributors and
wholesalers often offer credit terms of purchase. In China, goods are only
produced after payment is made, and not shipped until paid in full. No "terms"
are given. Discounts can be allowed on large orders from single factories.
Total, final payment is always due before goods leave the production
Easy to Pay:
"International trade through Cyber Import is as easy as a visit to your
We now accept this convenient,
on-line card service for payments less than US$1500. Your production can get
The common international
import/export transaction is via bank transfer. Unlike retail, we do not
include credit card fees when calculating our low FOB prices. Because we often
work on razor-thin 5% margins, to accept this manner of payment requires a
- Credit Card Surcharge: 6%
This helps to cover both the 3.5% fee charged initially by PayPal,
and their additional 2.5% exchange rate "fee" incurred when wired to Hong Kong
and converted to its currency. It is time consuming and costly. However, we
accept PayPal for the convenience of small payments from importers. It is often
cheaper to send payment via a bank wire transfer, our preferred method for
Credit card use within
China is highly limited. We know of no factories or exporters that utilize
them. Currently we are unable to accept plastic for transactions, although we
understand the convenience to use charge cards. There is a considerable savings
for low value transactions.
We will endeavor to accept credit cards as soon as it is possible
from China. That info will be provided here as it becomes available.
Please note that the
more sophisticated online banks now allow you to send wire transfers directly
from your computer. For those of you seriously interested in international
trade, we suggest you inquire with your banker.
No Personal Checks:
cashiers checks, and money orders are NOT accepted due to the complexities of
international banking and extraordinary length of time needed for processing.
If you mail us payment via this method, the document will be voided and