What is Foreign Trade e-Hutong? Foreign Trade e-Hutong Review, Features

Foreign Trade e-Account is a product launched by Payoneer in 2019. It is a global payment solution specifically for B2B - efficient account opening + collection, and accelerated capital circulation.

About Payoneer

Payoneer was founded in New York, USA in 2005, and officially opened its first office in China at the end of 2013. As an international financial institution focusing on cross-border payment, Payoneer is committed to providing cross-border payment solutions for multinational B2C platforms, e-commerce, mobile application developers, digital marketing, freelancers and other professionals in the context of globalization. There are more than 2,000 global cooperation platforms, including Amazon, Google, Airbnb, Apple Store, Facebook, etc. There are more than 40 global cooperative banks and financial institutions, supporting more than 100 local currencies, and the number of users exceeds 4 million.

About Foreign Trade e-House

Foreign Trade e-Account was officially launched in 2019, specifically targeting fragmented, small-amount, high-frequency orders from factories, foreign trade companies and individual SOHO foreign trade people. So far, millions of traditional export manufacturers, enterprises or individuals from more than 30 countries have received trade payments from overseas platforms or buyers through Payoneer Foreign Trade e-Account.

· Aiming at the mainstream payment mode of global B2B trade, Payoneer provides customers with multiple payment methods such as credit card payment, direct deduction from local accounts in multiple countries, and international wire transfer. No matter which payment method the buyer is used to, it can be satisfied with one click. It is faster, more flexible, and more stable. Payoneer Payoneer can solve all problems for you.

Features

1. Convenient account opening

Limited company application, supports mainland/Hong Kong/Taiwan companies; no need to open a Hong Kong offshore account separately, thus reducing costs, and there is no risk of the account being closed without reason.

2. High timeliness

Free account opening in seconds, funds will be credited to your account within 2 hours after payment is made; cash withdrawals will be credited to your account within one working day at the earliest.

3. Low exchange loss

The combined domestic cash withdrawal and foreign exchange settlement fee rate is as low as 0.5%.

4. No limit on foreign exchange settlement

Settle foreign exchange and withdraw cash to a mainland bank account without being subject to the US$50,000 foreign exchange limit. It also supports Hong Kong dollars or foreign currencies to be transferred to a Hong Kong bank account.

5. Zero handling fee

Payoneer users can transfer money between each other for free.

6. Convenient payment

Easily collect payments for foreign trade orders from 100+ countries in multiple currencies: USD, EUR, GBP, JPY, CAD, AUD.

Account Types

1. Global Wire Transfer Account

A virtual account that can receive Swift wire transfers from any foreign trade order in the world. Open in seconds, receive money from all over the world with one account, and settle RMB in one stop.

2. Local collection account

A local virtual account for receiving payments can be opened in seconds based on the buyer's market, and the funds can be credited in local currency to avoid exchange losses, providing foreign trade buyers and sellers with a convenient local payment experience as if they were in the local area.

Payment Methods

1. Transfer between Payoneer accounts

Payoneer users around the world (including China) can transfer money to each other for free.

2. Local bank transfer

Companies registered in the United States, Canada, the United Kingdom, and Australia can transfer money to you through their company accounts; companies and individuals in the European Union can also transfer money to you.

3. TT wire transfer (receive payment through Payoneer's US dollar offshore account)

Overseas companies will send you money via wire transfer.

4. Credit or debit card

Foreigners in most regions can transfer money to your Payoneer account using their personal credit cards.

5. Electronic Checks

Americans send you money directly via electronic check.