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Trade Assurance

Benefits

Lower cost

  • Local wire transfer fee reduced - as low as $1 (or 1 local dollar)
  • Asia-Pacific MasterCard service fee now capped at $40 USD

Faster payment

  • Local wire transfer now as fast as same day fund transfer
  • Credit card payments processed in two hours

How does enhanced wire payment work

When choosing local T/T (US/UK/EU/Canada/Australia) as a payment method, your Trade Assurance orders will enjoy lower cost and faster transaction processing compared to international wire transfer, including
  • Payment processing as fast as 1 business day
  • Transactions fees as low as 1 local dollar ($, £, €, CA$, AU$)
Payment Method
Cost
Payment date
International T/T
Payment Cost: Average $40 | Median Bank Cost: Average $25 | Exchange Cost: Variable
T+3 - T+7
Local T/T
USA T/T
Payment Cost: Average $25, Minimum < $1
Median Bank Cost: $0 Exchange Cost: $0
T - T+1
UK T/T
Payment Cost: Average £25, Minimum <£ 1
EU(Except UK) T/T
Payment Cost: Average €25, Minimum < €1
Canada T/T
Payment Cost: Average CA$25, Minimum < CA$1
Australia T/T
Payment Cost: Average AU$25, Minimum < AU$1

Who qualifies for the low transaction fees and faster transfers?

You are a Alibaba.com registered member from US/UK/EU/Canada/Australia

You have a US/UK/EU/Canada/Australia bank account to pay for your orders

How do I get the low transaction fees and faster transfers?

step1: Place an order

step2: Select the Local T/T (Wire Transfer) payment method to pay for your Trade Assurance order

step3: Make payment to the US/UK/EU/Canada/Australia members-based Citibank account listed in the order page

step4: Complete your payment with internet banking or by visiting your local bank

Note

Local TT
Bank
Beneficiary bank name
Swift Code
Limit currency
Charge
Receipt Time
Conditions to be met for account creation
U.S.A
Citi US
CITI bank New York
CITIUS33
USD($)
Average $25, Minimum <$1
≤T+1
1) The buyer should register an US account 2) When creating the Trade Assurance order, Buyer should use an US address as receipt addresss
UK
SAXO GB
SAXO PAYMENTS A/S
SAPYGB2L
GBP(£)
Average £25, Minimum<£1
1) The buyer should register membership at Alibaba.com, and the registered locale shall be the same as T/T's 2) When creating the Trade Assurance order, Buyer should use an local address as receipt addresss
EU(Except UK)
SAXO DE
SAXO PAYMENTS A/S
SXPYDEHH
EUR(€)
Average €25, Minimum<€1
Australian countries
Citi AU
CITIBANK N.A , SYDNEY BRANCH
CITIAU2X
AUD(A$)
Average CA$25, Minimum<CA$1
Canada
Citi CA
Citibank NA Canadian Branch
CITICATTBCH
CAD(C$)
Average AU$25, Minimum<AU$1

What are the new benefits if you pay by credit card?

Credit card payments now processed in two hours!

Credit card payment for both Visa and MasterCard are processed in two hours. This feature will continue to be available after #SuperSeptember

Asia-Pacific MasterCard service fee now capped at <span style="color:#FF8F29">$40 USD</span>

Starting September 4, there will be a cap of $40 USD on MasterCard transaction fees, for Asia-Pacific issued cards only. Orders created before, but paid on or after September 4, will enjoy this offer. See a list of applicable countries <a href="https://service.alibaba.com/buyer/faq_detail/24260341.htm?traclog=app">by clicking here</a>