Telegraphic Transfer
Post 1 of 5
I am new to the international trade industry, based out of the US & want to become educated on proper payment procedures. I am wanting to make a purchase with a particular business in China(mainland) & their moq is $1000, however they want the payment via telegraphic transfer T/T. I don't feel comfortable using this method because I have never done business with this supplier. I have asked them if they take other methods such as DC's & LOC's & they said No. I also found out we use the same bank HSBC, which mine is in the US & theirs in Hong Kong which should make the transaction smoother. They still only want to accept T/T...should I not do business with them? This is a big risk to me.
05 Mar 2007 21:32
Post 2 of 5
Replying to [Lexy]: Did they give you the Wire transfer information?
If they did contact HSBC and see who the account is registered too and how long they have been banking with them. Also explain why you need the details. Be polite you'd be suprised how much information you can get.
If they did contact HSBC and see who the account is registered too and how long they have been banking with them. Also explain why you need the details. Be polite you'd be suprised how much information you can get.
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ME Tech Supply a D. B. A provides sourcing solutions for both small and medium sized businesses. We are members of the GSAA whose Agents have verified more than 2. 5 million companies World WideWe offer low cos...
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05 Mar 2007 21:37
Post 3 of 5
Replying to [Ranger]:If any Bank in the world gave out my details with out my consent i would have them in court so fast / banks do not or should not give out customer details
06 Mar 2007 01:20
Post 4 of 5
Replying to [Lexy]:This what i keep saying // every one is getting scared to do business / because of the scamers / we have used TT ,, Pay Pal ,, Western union for years .. Then along came the scamer ,, now as soon as we mention payments .. panic ! , are we scamers , let us do a page of non scamers ,, Alibaba is Not Ebay and I hope never will be a scam site like that,,,,,,,,,,,,
06 Mar 2007 01:28
Post 5 of 5
Replying to [Ranger]:
Thank you for the suggestions, however, they did not provide me with any bank details other than HSBC(Hong Kong). They were somewhat vague... I asked tons of questions.
I provided my company info very freely, along with my state registration info & my contacts. They would give me little details per email; however they stated they didn't get involved with any accounting & in the UK they were mainly a liaison office for business in Europe. They also provided a UK registration #. They're production site is in China(mainland)They have a legitamate looking website, but these days you can set up anything today & be gone tommorrow.
They also never ackowledged my reply about us having the same bank which I felt like that would bring more comfort & security on both sides.
Thank you for the suggestions, however, they did not provide me with any bank details other than HSBC(Hong Kong). They were somewhat vague... I asked tons of questions.
I provided my company info very freely, along with my state registration info & my contacts. They would give me little details per email; however they stated they didn't get involved with any accounting & in the UK they were mainly a liaison office for business in Europe. They also provided a UK registration #. They're production site is in China(mainland)They have a legitamate looking website, but these days you can set up anything today & be gone tommorrow.
They also never ackowledged my reply about us having the same bank which I felt like that would bring more comfort & security on both sides.
06 Mar 2007 13:55
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