FAQ of Enterprise-to-enterprise Payment

Who is suitable for using enterprise-to-enterprise transfers?
Enterprise-to-enterprise transfers are recommended for clients who wish to prevent the freezing of bank accounts or funds, or as requested by your Chinese supplier.

How to use enterprise-to-enterprise transfers?
Ensure that you have activated this service. Once selected, input the desired amount in CNY for the transfers. Next, provide the recipient company's banking details accurately and click "Confirm & Proceed". Enter your Billing information and then fill in the Purchase Order. Once the PO is completed, you can opt for one of the payment methods for MYR payment. After the staff completes the transaction, they will upload the CNY receipt and provide you with the purchase invoice.

How many days does it take for an enterprise-to-enterprise transfer?
This payment method is more complex than the usual bank transfer, and the process takes 3-7 business days to complete the payment.

Is there a minimum transfer amount for enterprise-to-enterprise transfers?
Yes, the minimum amount for each transfer is CNY 10,000 or above.

Is the exchange rate for enterprise-to-enterprise transfers the same as the regular bank transfer rate?
No, it's different. You can check the latest exchange rate in the system every day.

Why do I need to fill out a Purchase Order (PO) before making the payment for enterprise-to-enterprise transfers?
This is because the enterprise-to-enterprise transfer process requires the purchase information to proceed with the transfer.

Is it really guaranteed that enterprise-to-enterprise transfers won't be frozen?
The likelihood of this method being frozen is very low, making it safer compared to regular bank transfers.

Is there a difference between one-day and three-day bank transfers compared to this method?
Yes, the one-day and three-day transfers involve using personal accounts to transfer funds to either personal or company accounts.

If my supplier hasn't specified which account to use for the transfer, which one should I use?
You can use the regular one-day or three-day bank transfer method to make the payment, unless your supplier emphasizes that they only accept enterprise-to-enterprise transfers.

Can I still perform enterprise-to-enterprise bank transfers if I register as a personal account?
Absolutely. The key factor lies in the recipient's account details. Ensure that you input the supplier's company bank account information rather than their personal bank account details.

Updated on: 06/09/2023