Detailed explanation of AliExpress payment methods: early payment, arrival working days and foreign exchange settlement issues
On the AliExpress platform, whether it is a new store or an old store, there are many rules that merchants need to understand. This article will integrate a number of related topics, including AliExpress’s early payment collection service, working days for payment arrival, payment account settings, solutions for foreign exchange settlement exceeding the limit, etc.
1. Advance collection service
The early collection service is a financial support product launched by AliExpress for high-quality sellers. The platform will comprehensively evaluate whether this business can be opened based on the store’s operating conditions. Once activated, the payment collection time is usually 3-5 days after the seller delivers the goods. The system will automatically evaluate the seller’s various indicators, such as praise rate, dispute rate, etc., to determine whether it meets the conditions for early payment.
2. Working days for payment arrival
The time it takes for AliExpress to receive payment depends mainly on the speed of logistics. When the buyer confirms payment after receiving the goods, the funds will arrive in the international Alipay account bound to the seller. In addition, the system will automatically remind the buyer to confirm receipt of the goods within 5 days. If the goods are not confirmed within 5 days, the system will default to receiving the goods and releasing the money.
3. Payment account settings
AliExpress payment collection is mainly divided into two types: RMB account and USD account. RMB accounts need to be set up through Lianlian Payment; US dollar accounts need to log in to the backend and select “Transaction-Bank Account Management” to set up. Merchants should note that RMB accounts can only be set up as company accounts, while USD accounts can be set up as company or personal accounts.
4. Foreign exchange settlement exceeds the limit
According to the regulations of the State Administration of Foreign Exchange, the annual foreign exchange settlement limit for individuals is US$50,000. If the limit is exceeded, merchants can solve the problem through the RMB exchange settlement channel provided by the platform, finding help, or registering an offshore account.
5. Escrow payment method
escrow (International Alipay) is one of the payment methods commonly used by AliExpress merchants. It has the characteristics of high security and no need to apply for withdrawal. However, escrow currently only supports U.S. dollar payments, and the single transaction limit is $10,000.
In summary, AliExpress has various payment methods, and merchants should choose the appropriate payment method according to their own needs to improve capital turnover efficiency. At the same time, you should also pay attention to the latest policy adjustments on the platform to ensure the normal operation of the store.