New Instagram Captions , Quotes and Pickup lines

Business Account for Cooperation with Chinese Partners

More and more entrepreneurs from across the globe are seeking to establish trade relations with reliable Chinese partners, and this cooperation is becoming increasingly fruitful. Despite US pressure, the country managed to build up a robust economy with enormous potential. All you need is an excellent financial instrument to work with the yuan, and that’s where you should be especially careful as Chinese banks are undergoing a complicated period. We will discuss the reasons below and give you some alternatives for your business that will help you quickly make settlements with Chinese partners.

Challenges Faced by Chinese Banks

China has a vast and robust economy, so the USA scrutinizes its moves closely. While Uncle Sam does not give direct orders, the country will not ignore Chinese friendship with some states. A typical example is a decree issued by President Biden in December that imposed secondary sanctions on several Chinese banks that cooperated with Russia. This fact had a considerable influence on the global financial landscape, pushing many banking institutions in neutral states to turn down Russian applicants from that time on. Understanding these challenges is crucial for your business, making you feel more informed and prepared in your dealings with Chinese partners.

If you work (or intend to work) with PRC businesses, we strongly recommend thinking of a spare corporate account, as the one opened with a Chinese bank may be under threat. The best options businesses can currently use are payment systems with numerous advantages and do not impose unreasonable requirements on corporate customers. The three best alternatives include an account with a UK payment system, a Singapore payment system, and a global payment system. We will discuss them briefly here, but you can follow the above link to get more information on each.

UK Payment System

Are you looking for a reputable jurisdiction to set up your account? Look no further. A leading UK payment system will ensure adherence to all regulatory standards and offer a comprehensive suite of services tailored for legal entities seeking reliability in the financial landscape.

Core services for corporate clientele encompass:

  • Seamless cross-border transactions for both individuals and entities
  • Cryptocurrency operations, a feature not universally available among payment platforms
  • Streamlined invoicing processes
  • Internet acquiring facilities
  • POS terminal connectivity
  • Multi-currency corporate account options
  • Essential e-commerce services, including website design, promotion, and corporate web security solutions.

For those seeking more extensive solutions, the payment system’s extended services include:

  • Efficient currency conversion services
  • Enhanced transaction processing capabilities, including template-based and scheduled payments
  • Convenient payment scheme imports from external databases
  • Swift transfers through accelerated processing
  • Corporate customer card provisions.

Distinctive features of our UK payment system include:

  • Full accreditation from the FCA (Financial Conduct Authority)
  • Operational presence in London and Riga
  • Round-the-clock technical assistance
  • Hassle-free online registration options.

Securing a loan through the system offers:

  • Loan amounts of up to EUR 8 million
  • Flexible repayment terms extending up to 10 years
  • Competitive interest rates ranging from 5% to 8%
  • Collateral options covering up to 70% of liquid assets
  • Financing tailored for import/export procurement and payment deferment needs.

Terms for Internet acquiring services include:

  • Provision of personalized customer accounts
  • Customizable payment page interfaces
  • Plug-and-play modules for seamless integration
  • Access to API functionalities
  • Support for 30 currencies
  • Language versatility
  • Remote setup and verification processes.

Invoicing terms are designed for convenience, offering:

  • Remote invoicing capabilities
  • Online payment acceptance mechanisms
  • Fully remote setup, including equipment configuration.

E-commerce services feature:

  • Expedited payment processing, including SEPA transactions
  • Segregation of administrative and business accounts
  • Specialized payroll projects
  • Dedicated account management support
  • Integration with Open Banking API for streamlined payments.

Singapore Payment System

If you are cooperating (or planning to cooperate) with Southeast Asia, you need this financial instrument. It is a versatile alternative that transcends currency boundaries and minimizes exchange rate risks. A multi-currency account ensures seamless transactions and empowers your company with a unique IBAN. The Singapore payment system opens doors to many opportunities, spanning operations within the city-state, across the Asian region, and beyond continents.

Operational highlights include:

  • Endorsement by financial authorities in Singapore, the UK, and Hong Kong
  • Flexibility to open accounts for offshore entities (subject to eligibility)
  • Access to a wide array of currencies (38 in total) and over 300 currency pairs
  • Effortless transfers facilitated through SEPA and SWIFT payment systems
  • Seamless integration with popular Forex services for enhanced trading capabilities
  • Swift transaction processing, with most transactions completed within the day.

Corporate entities that will benefit from the Singapore payment system encompass:

  • Businesses operating in Singapore, throughout Asia, and across international borders
  • Credit institutions, financial enterprises, and payment service providers seeking a robust financial ecosystem
  • Families looking to establish and manage their wealth through family offices.

Furthermore, the Singapore payment system offers unique services to individuals who fall under the categories of HNWI (High Net Worth Individuals) or UHNWI (Ultra High Net Worth Individuals), tailoring solutions to meet their distinct financial needs and aspirations.

Global Payment System

Looking for a suitable alternative tailored for companies engaged in cross-border activities? Our universal option offers a full suite of services with a streamlined account opening process. Compliance with KYC/AML regulations proves our commitment to responsible practices and mitigates risks associated with regulatory interventions and sanctions.

Operational features include:

  • Established representative offices across key global regions, including Europe (Netherlands, UK), USA, Asia (Singapore, Hong Kong, Malaysia), and Australia
  • Targeting businesses spanning digital services, high-tech sectors, and cross-border trade
  • Emphasis on servicing SMEs
  • Remote corporate account setup is typically completed within three days, eliminating the need for physical visits
  • No fees for account opening or monthly maintenance
  • Favorable terms for companies with limited capital
  • Dedicated personal manager for each corporate client
  • Advanced security features
  • Multiple communication channels with technical support services.

The advantages of a corporate account with the global payment system encompass:

  • Conducting transactions in the customer’s native currency
  • Local bank payment details facilitating seamless transactions
  • Swift payment processing independent of transaction size or destination
  • Versatile multicurrency account capabilities
  • Invoicing options available in 10 currencies
  • Acceptance of payments from 180 countries worldwide
  • Built-in integration capabilities with accounting software and popular e-commerce platforms
  • Native support for major payment systems (Visa, Mastercard, American Express, UnionPay, PayPal) and digital services (Apple Pay, Google Pay)
  • Low to zero commission for local transactions

Interested in a particular payment system? Do not hesitate to visit the above link, where you will find more detailed information on opening an account. You can also book a free session with an expert to discuss the possibilities for your business and get professional assistance.

Similar Posts