What is Cross-border Payment? Cross-border Payment Review, Features

Cross-border Collection Service is a simple, fast and secure RMB collection service tailored by PayPal China for Chinese merchants.

About Cross-border Payment

Cross-border Collection Service is a simple, fast and secure RMB collection service tailored by PayPal China for Chinese merchants.

It helps Chinese merchants use local bank accounts in China to receive global payments in RMB. Easily apply for opening an account within the PayPal account system, receive payments with one click, and receive RMB in your account on the same day at the earliest.

How does Cross-border Payment Service charge?

When you initiate a payment, we will charge a certain fee. Please visit the Fee Center for specific fees. In addition to the above fees, we will also charge VAT according to the current tax laws and regulations of China, at the rate of PayPal China's fee*6%.

Is there any limit on the amount of each payment application?

The minimum amount for a single payment application is US$20.

What are the requirements for bank card binding? Can I bind a personal bank account?

If you are a corporate user, you can bind your company account or a bank card under the name of a legal person. If you are an individual user, you can bind your personal bank card.

How long does it take for funds to arrive using cross-border payment?

The arrival time of cross-border payment collection treasure is based on Beijing time, which can be divided into several situations:

1. Payment applications submitted before 13:00 on working days will be credited to the account on T+0.

2. Payment applications submitted after 13:00 on working days will be credited to the account on T+1.

3. Payment applications submitted on non-working days will be credited to the account on the next working day.

How long will it take for me to get my identity verification (KYC/KYB) results?

Generally, we will complete the review within 2 working days after receiving your information.

What is the exchange rate when using Cross-border Payment?

Cross-border Collection Bao relies on PayPal's overseas affiliates and their service providers to provide professional currency exchange services, and is dedicated to providing you with competitive overseas exchange rates.