What is Yijiehui? Yijiehui Review

Core Services

Yijiehui has two core services, namely Amazon payment collection and cross-border fund clearing and settlement. Yijiehui provides compliant, convenient and low-fee global payment collection services for Chinese Amazon sellers; and provides cross-border fund clearing and settlement for PayPal payment merchants, Amazon platform merchants, eBay platform merchants, AliExpress merchants, self-operated B2C website merchants, etc. In addition, Yijiehui has also launched a number of value-added services such as financial management and loans, providing one-stop financial technology services for export e-commerce.

Cost

The foreign exchange settlement service provided by Easy Settlement is free of charge, with no handling fee, and the exchange rate is the same as the bank's spot foreign exchange purchase price on the same day. There are two settlement banks: Industrial and Commercial Bank of China and China Everbright Bank.

Advantages

1. In terms of quota, it has broken the limit of US$50,000 per person per year for foreign exchange settlement.

2. In terms of declaration procedures, there is no need for customs declaration and customs clearance, and Bank of China will verify the payment.

3. In terms of fund security, Yihuihui funds are subject to dual supervision by the People's Bank of China and the State Administration of Foreign Exchange, with a risk control team and safe and compliant.

4. In terms of handling fees, real-time exchange rate, no exchange loss, and 0 handling fees.

5. In terms of withdrawal speed, the funds will be credited to the account on T+1 and will be in RMB.

6. In terms of currency selection, you can choose a variety of currency settlement methods including RMB, USD, EUR, and HKD to fully meet your business needs.

Why can Yijiehui allow unlimited foreign exchange settlement?

Because Chongqing has launched a cross-border settlement pilot city support policy, Yijiehui has teamed up with the Cross-border E-commerce Transaction Certification Center to certify additional settlement quotas through transaction authenticity certificates provided by merchants, so that there is no need to occupy the annual foreign exchange quota of 50,000 US dollars per person, and unlimited settlement can be achieved. At the same time, the entire process is supervised by the State Administration of Foreign Exchange, so you can rest assured.

Foreign exchange settlement process

1. The merchant shall submit a photo or scanned copy of the ID card of the person whose account needs to be settled;

2. Yiji Pay handles the Chongqing personal Bank of China card designated by the merchant for the project;

3. The merchant receives the Heyi Exchange Settlement Cooperation Agreement (signed and sent back to Yiji Pay for stamping);

4. The merchant brings his/her ID card to any local Bank of China branch for activation (needs to operate at the counter and change the initial password);

5. Add US dollars to PayPal to apply for withdrawal (other platforms can directly transfer to this card);

6. Download the real transaction records of e-commerce platforms such as PayPal, eBay, and Amazon, and apply for foreign exchange settlement quota;

7. Withdraw USD to the seller’s bank card, and China Everbright Bank will convert USD into RMB. Finally, it is as easy as withdrawing cash from Alipay. You can withdraw the cash directly to any bank card of the seller.

References