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China Payment Guide - CNY
China Payment Guide - CNY
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Written by Klasha Support
Updated over a week ago

Currency: CNY

Supported Countries: China

Restrictions:

Payments to China in CNY are only possible for a few defined reasons and can only be made to businesses (not to individuals).

Goods Trade β€” including sale and purchase of goods, letters of credit, procurement of goods, etc.

Service Trade β€” including rent, legal fees, advertising, and promotion fees, insurance, financial services, patent and licence fees, etc.

Other β€” including remittance of profits, dividend payments, tax payments, scholarships, salaries, etc.

Referencing Payments:

Goods Trade should be marked as Purchase of Goods when making a transfer via the API or Verto Platform.

Service Trade should be marked as Purchase of Professional Services or Professional Fee when making a transfer via the API or Verto Platform.

For other purposes, please reach out to the Verto support team prior to making a payment at [email protected]. As a general rule, other purposes, such as payments to individuals, are not supported with this currency.

Alternative solution:

Cross-border payments can be made in USD if a use case is not supported for payments in CNY.

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