Comparing Shopify's official Shopify Payment collection with PayPal's China mainland account collection, it is obvious that no matter which option you choose, PayPal's collection cost will be much higher. The higher the collection volume, the higher the cost. The gap is getting bigger and bigger. In addition, don't forget that there is a 35 handling fee for PayPal mainland China account balance withdrawals. If you choose to withdraw cash back to your country by wire transfer, you also need to communicate with your local bank in advance to ensure that it can receive your US dollars.
For withdrawals of more than US5,000, relevant transaction certification materials shall be submitted according to the bank's foreign exchange regulatory policies. Of course, if you want to save trouble, you can also bind Payoneer, and then withdraw cash from Vietnam phone number list Payoneer back to your country, and directly deposit it into your domestic bank account in RMB. Of course, the third-party collection company is not in vain, and Payoneer will charge a 1.2% handling fee of the cash withdrawal amount. In such a comparison, the cost of receiving payments with the Chinese mainland version of PayPal is too high.
Is there a cheaper solution Then try the US version of PayPal. Shopify store opening tutorial-2022 Shopify website construction and operation guide complete 53 According to Shopify's official data, more than 60% of Shopify's orders come from the United States, which means that the payment comes from the United States, so we can default to a rate of 2.9%. You read that right, this 2.9% is even lower than the highest discount rate of 3.4% in the Chinese mainland version of PayPal (the discount rate enjoyed by the monthly payment of more than 100,000 US dollars). On the other hand, the US version of PayPal withdraws to a US bank account without a 35 withdrawal fee, which saves a lot of collection costs. Of course, the US version of PayPal also has its drawbacks.
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