Address
Old- Baneshower
Kathmandu Nepal
Work Hours
Sunday to Friday: 9AM - 5PM
What's Inside?
You will dive into the various payment methods available when dealing with sellers from China. The focus will be on understanding the processes involved in Telegraphic Transfer (TT), Letter of Credit (LC), and the option of using your own dollar card provided by your bank. Additionally, we’ll explore any limitations or considerations associated with each payment method.
Key points covered in this video
- Payment methods from Nepal to Chinese sellers.
- Overview: Dollar card, TT, and LC.
- Using your dollar card for payment.
- Factors to consider when choosing the payment method for your amount.
- Understanding the yearly limit for dollar card transactions under $500.
- Secure payment process through Alipay’s link on Alibaba’s verified checkout page
Frequently Asked Questions
What are the three payment methods discussed in the video?
Dollar card, Telegraphic Transfer (TT), and Letter of Credit (LC).
How does the Dollar card payment method work for transactions under $500?
Your bank provides a yearly limit for a Dollar card, and payments can be made securely through Alipay’s link.
What is Telegraphic Transfer (TT) and its advantages?
TT is a payment method using the Swift network for international transactions, offering simplicity and quick processing.
What is Letter of Credit (LC) and when is it commonly used?
LC is a complex method used in significant transactions, involving bank guarantees and a time-consuming process.
Useful Links
- About TT- https://cleartax.in/glossary/telegraphic-transfer-tt/#
- About LC- https://www.investopedia.com/terms/l/letterofcredit.asp#:~:text=A%20letter%20of%20credit%2C%20or,remaining%20amount%20of%20the%20purchase.
- Alipay- https://global.alipay.com/docs/ac/cashierpay/payment_method
- About Dollar card- https://nepalinerd.com/dollar-card-nepal/
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