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  • How to send money to China and avoid scams?

How to send money to China and avoid scams?

Posted on April 24, 2015 by SBL in Blog Posts - 4 Comments
How to safely send money to China

Here are some simple and very effective ways to protect yourself (compliments of the China Sourcing Information Center):

ONE: Be very sure the name of the supplier is the same for the following:

  1. On your contract
  2. The bank account where you send them the money
  3. The business license of the location of production.

TWO: More important, do an inspection (yourself or a 3rd party) before final payment is made, even with regular suppliers. It only costs a few 100 bucks and it gets very hard for a hacker to fake an inspection at the factory.

Anybody want to explain how to tell if a bank account name is a personal account or a corporate account, even when it’s Romanized Chinese (pinyin)? Please feel free to leave a reply in the comment box below.

Hint: Look for “youxian gongsi” and/or a city name.

Business License, china, how to send money to China, pinyin, romanized Chinese, sending money to China

4 comments on “How to send money to China and avoid scams?”

  1. Goyum says:
    September 26, 2019 at 1:30 pm

    I’ve never used an international money transfer service before. How do I know if I’m getting scammed?

    Log in to Reply
  2. Ivy Wong says:
    September 3, 2019 at 3:11 pm

    Useful information, thanks for sharing.

    Log in to Reply
  3. CHESS says:
    June 27, 2016 at 4:18 am

    Now if a person is from overseas, how can one do due diligence? I Suggest we form a corporate entity as an intermediary for buyers and suppliers, who will hold the funds, only release to either party upon complete payment. am willing to be part of that entity. This is absurd, china, too bad because we shall deal with you using any possible legal means, I promise.

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    • admin says:
      July 16, 2016 at 4:38 am

      being overseas is no excuse for failing to do due diligence. There are many independent firms that can do proper due diligence for just a few 100 USD. Plus there are auditing firms who can check out the supplier’s production capabilities as well. I’d be happy to introduce the companies that have helped other SBL users in those areas.

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