Paying abroad by bank – don’t forget about the instructions

Mostly, we are focused on sourcing the right merchandise at bargain price. We enjoy it, and we hope that You like our updates too. Still, we are aware of the fact, that there are lots of other smaller and bigger problems, while making b2b wholesale deals.

One of the absolute basic ones is a matter of transferring the money abroad by the bank. Surprisingly, many b2b buyers do not know about couple of different instructions, which are set while making the offshore payment. It reults with lots of misunderstandings and problems with the suppliers, which might not had happened, if a buyer would have set the proper payment instruction.

b2b trade

In general, a payer is not only making the payment, but also decides who will pay the transfer’s charges. If he or she is not aware of that, or doesn’t know the descriptions of these instruction, then in most cases both the buyer and seller are being charged for the payment. It also means, that the supplier will not receive the full price, which has been previously agreed with the buyer. Eventually, he is not willing to ship the goods, because the products were not paid in full. And that’s how the problem with a b2b deal starts.

As You see, knowing the international payment instructions is a must for an international b2b buyer. Fortunately, there are couple of short and clear articles about that in the internet, so why not read it and get to know it? Just view the one available here and find out a bit more about international payments.