1. Add new account
If you are a Chinese supplier member, you need to log in to My Alibaba, click “Transaction” → “Bank Account Management”, enter the “Receipt Account Management” page, and then click Click “Create USD Receipt Account”
AliExpress members log in to “My AliExpress”, click “Transaction” → “Fund Account Management”, and enter the “Alipay International Account” page. In the “Withdrawal Account Management” function, set up the US dollar collection account.
After entering the “New USD Account” page, you can choose two account types: “Company Account” and “Personal Account” to set up
2. Company Account
Companies established in mainland China must have import and export rights to receive U.S. dollars and settle foreign exchange. Orders that use company accounts to collect payments must go through formal customs declaration procedures in order to successfully settle foreign exchange.
3. Personal account
The personal account created must be able to receive individual U.S. dollar remittances from overseas banks (Citibank Singapore). There are no restrictions on remittances, but foreign exchange settlement must comply with foreign exchange control regulations, with a foreign exchange settlement limit of US$50,000 per person. After selecting a personal account, enter the account opening name (in Chinese), interbank account number and other required fields. After completing the input, click the “Save” button.
4. Frequently Asked Questions about US Dollar Accounts
1) Which bank cards can accept US dollars? I don’t have a foreign currency account that can accept US dollars. What should I do? Can ordinary bank cards accept foreign currencies?
Domestic banks have foreign currency services. You need to bring your valid ID card to the bank to activate the personal foreign currency collection function. If the bank card itself is a dual-currency card (RMB and U.S. dollars), you can receive it directly
2) The U.S. dollar collection account I created is wrong and I want to modify it. Can this be done?
Cannot be modified. You can delete and re-create a new U.S. dollar collection account
3) Does it have to be a U.S. dollar collection account in mainland China? Can it be a U.S. dollar collection account in Hong Kong, China?
Yes .
4) I have only set up a US dollar collection account and not a RMB collection account. Can I do transactions? No.
5) I have a private account with Bank of China, which can receive both RMB and U.S. dollars. I have bound my Alipay RMB withdrawal account, and I can bind the U.S. dollar collection under my personal account. Account?
Please confirm with the card-issuing bank and ask whether it can receive foreign U.S. dollar remittances, because AliExpress remits money to your account from Citibank Singapore.
6) I have set up a US dollar personal collection account, what should I do if the collection exceeds the limit of US$50,000?
There are two solutions: If a withdrawal exceeds US$50,000 , you can settle the foreign exchange in years; you can also withdraw once when the amount does not exceed US$50,000, and change your personal receiving account the next time you withdraw, and withdraw cash separately.
7) I have set up a U.S. dollar collection account. Are there any handling fees for withdrawals?
The handling fee for U.S. dollar withdrawals is calculated based on the number of withdrawals. The handling fee for each withdrawal is fixed at US$15. All intermediary bank fees are included. It is recommended that sellers reduce the number of withdrawals and only make withdrawals when the withdrawable funds accumulate to a certain amount.