Generally, the most common payment methods in international business are as follows:
Bank Transfer: It is the most popular payment method for international business, better for makeup brush manufacturers, as the payment is irrevocable. Bank transfer usually needs 3-4 working days to reach suppliers’ account, and the fee is not high, usually about USD20.0. But it is better to choose a big bank which has international influence in case of any funds lost.
L/C: It is the most complex payment method, the payment last too long time and too many banks and departments are involved, and the fee is too high, so now, few suppliers or buyers use this payment method.
PayPal: PayPal is the most convenient and fastest payment method, it is the best choice for customers, as the payment can be cancelled within 6 months with no reason, and all PayPal charge is afforded by receivers. So, few suppliers will accept payment via PayPal, it is no security, also too high charge, about 4% of total amount. It is usually used to charge sample fee or very small orders.
Western Union: It is popular for SOHO due to the convenience and no charge from receiver. Receivers only need to provide required personal details, then customers can pay the money to individual person. For the SOHO who has no real company, it should be the best choice. But for customers, really high funds risks and bank charge.
Cash: The most traditional and direct payment, but are seldom used now due to the limit of space and time, however, if buyers come to the factory for product inspection before shipment, maybe cash will also be a good choice, which will save the bank fee and time.
L/C: It is the most complex payment method, the payment last too long time and too many banks and departments are involved, and the fee is too high, so now, few suppliers or buyers use this payment method.
PayPal: PayPal is the most convenient and fastest payment method, it is the best choice for customers, as the payment can be cancelled within 6 months with no reason, and all PayPal charge is afforded by receivers. So, few suppliers will accept payment via PayPal, it is no security, also too high charge, about 4% of total amount. It is usually used to charge sample fee or very small orders.
Western Union: It is popular for SOHO due to the convenience and no charge from receiver. Receivers only need to provide required personal details, then customers can pay the money to individual person. For the SOHO who has no real company, it should be the best choice. But for customers, really high funds risks and bank charge.
Cash: The most traditional and direct payment, but are seldom used now due to the limit of space and time, however, if buyers come to the factory for product inspection before shipment, maybe cash will also be a good choice, which will save the bank fee and time.
As a makeup brush factory, we have been in international business for many years, the payment methods we usually accept are bank transfer, west union and cash. If customers have any special requirements on payment methods, please feel free to contact us, we can further discuss.
