Get roubles for goods sold to China
Your Chinese buyer sends yuan under the invoice to the account of an agent we selected from our pool to suit the buyer's bank. Roubles arrive in your account in Russia. The yuan rate and the fee are set in the payment order before the yuan are sent.
- 3 business days
- to credit roubles after the yuan reach the agent
Estimate the minimum fee
The final fee and rate are fixed in the payment order
Minimum amount: 10,000 USD or equivalent
- Fee rate
- from 0.4%
- Fee
- from 100 USD
- To be credited (equivalent)
- up to 24,900 USD
This is a minimum, not an offer or a rate lock. The final figure depends on the country, amount and the banks involved and is fixed in the payment order.
Request a quoteHow Chinese buyers pay
The Chinese side almost always wants to settle in yuan. For them, it is a transfer in their own currency with no exchange. For you, it is a single conversion: yuan into roubles at the rate written in the payment order.
Russian exports to China are mostly raw materials and food: timber and sawn wood, fish and seafood, vegetable oils, grain, metals, fertilizers. For such shipments, the questions from the buyer's bank are predictable, as long as the papers match each other.
The payer is not always the buyer
In China, imports are often handled by a foreign trade company licensed to import, and the end buyer settles with that company. In that case, the yuan come from an intermediary. For your bank to link the money to the contract, the change of payer is documented in a three-party agreement before the transfer.
The name in Latin letters
The Chinese bank holds the company under its name in Latin letters, and that name does not always match the one in the contract. Check the spelling before issuing the invoice. A mismatch in even one word gives the bank a reason to ask questions.
Holidays
During Chinese New Year and the October holiday week, banks in China process almost no transfers. If the payment date falls on those days, ask the buyer to pay earlier.
What holds up yuan payments
Money from China is held up more often by paperwork or the caution of the buyer's bank than by the route. Here is what we see and what we do about it.
The bank is cautious about Russia
Some Chinese banks refuse transfers connected with Russia or keep them under long review. So we select the agent for the buyer's specific bank: one whose details that bank accepts right now.
A purpose of payment that is too short
A line such as "payment per invoice" raises questions. The purpose of payment needs the contract number and date, the goods and the invoice number, worded the same in every document.
No import data
When payment follows delivery, the buyer's bank may ask for customs import data or transport documents. Send the buyer the shipping documents together with the invoice.
Money from an intermediary with no agreement
If the yuan came from a foreign trade company and there is no three-party agreement, your bank will ask what that company has to do with the deal. We prepare the agreement before the payment.
The bank returned the yuan
We read what the bank wrote and look in our pool for an agent with a route that this bank accepts. When another lawful route is needed, a lawyer reviews it in advance.
What to prepare for a deal with China
What we need from you
- A bilingual contract or one with a Russian translation.
- An invoice in yuan with the full purpose of payment.
- The buyer's name in Latin letters, exactly as its bank knows it.
- Shipping documents, if payment follows delivery.
- Your company details for the agency agreement.
What you keep
- The agency agreement and a payment order with the yuan-to-rouble rate.
- The agent's details for the invoice to the Chinese side.
- The agent's report: how many yuan arrived and how many roubles were credited.
- A document set your bank uses to record the proceeds under the contract.
What receiving yuan costs
from 0.4%
minimum fee for receiving yuan
The rate depends on the buyer's bank, the amount and which agent accepts yuan right now. We write it into the payment order, together with the yuan-to-rouble rate, before the buyer pays. You transfer nothing to the broker: our fee comes from the agent.
- from 10,000 USD
- minimum transfer; yuan are counted at the USD equivalent
- CNY to RUB
- rate from the payment order, set for each transfer
- 3 business days
- from the yuan reaching the agent to roubles, under the agency agreement
Already receiving yuan through another agent?
Send your latest payment order or just the rate. We will add up the fee, the FX markup and the fixed charges into one figure and look for lower terms in our pool. If there are none, we will say so.
Common questions about payments from China
The buyer wants to pay through its import company. Is that possible?
Yes, if it is documented: a three-party agreement on the change of payer or a clause in the contract. We will review the text before the transfer.
The contract is only in Chinese. Is that enough?
Your bank may ask for a Russian text. It is easier to sign a bilingual contract from the start, with the same amounts and details in both versions.
Can I receive dollars instead of yuan?
We discuss this before any documents are signed. Dollar transfers from China to Russia go through with more difficulty, so buyers themselves offer yuan. If you need another currency, we will tell you whether an agent for it is available now.
What yuan rate will I get?
The one in the payment order. We do not quote a figure on the website: we fix it for each transfer before the buyer sends the money.
When will the roubles arrive?
In 3 business days after the yuan reach the agent: this is a term of the agency agreement.
Request a quote
Describe the deal: the buyer's country, currency and amount. We'll reply with a proposed route and terms. We name the agent in advance, and the rate and fee go into the payment order before the buyer pays.