How to Receive Payments When Starting Foreign Trade

Many beginners ask: how to receive payments when starting foreign trade? Getting the first order is exciting, but ensuring the money arrives securely is what keeps a business alive. Without the right setup, even a profitable deal can turn into weeks of waiting or unexpected losses.

Why should payment planning start before signing contracts?

For new exporters, it’s tempting to focus on product and pricing. But payment arrangements need to be decided early:

Overseas buyers want clear instructions on where to send funds.

Banks need time to verify your documents.

A proper account setup avoids last-minute delays when goods are ready to ship.

📌 Planning payment methods alongside contracts saves time and avoids disputes later.

How does a corporate bank account support foreign trade beginners?

A dedicated foreign trade bank account is the foundation for smooth collection. With a provider like CBiBank, companies can:

Receive payments in 20+ currencies directly.

Manage both goods and service trade receipts in one account.

Access online platforms for monitoring transactions in real time.

👉 New exporters can apply remotely via CBiBank official application page.

What role do invoices and compliance documents play?

Banks don’t just process money—they check the legitimacy of every transfer. Beginners must prepare:
⚠️ Business invoices matching the buyer’s payments.
⚠️ Export-related contracts or service agreements.
⚠️ Tax or registration documents proving legal operations.

💡 Having these ready speeds up account approval and ensures compliance with international standards.

How can exporters reduce the risk of payment delays?

Delays are one of the most common headaches for newcomers. A good strategy includes:

Using banks with strong global networks.

Providing buyers with clear payment instructions in advance.

Monitoring incoming funds with online alerts.

This reduces the chance of funds being stuck in intermediary banks.

Why does customer service matter for new exporters?

Starting out, many businesses don’t have a finance team. Responsive bank support can make a huge difference:

Bilingual assistance helps communicate with international partners.

One-to-one managers guide you through compliance.

Quick responses prevent small mistakes from becoming big problems.

For beginners, reliable customer service is just as important as transaction speed.

FAQ: How to Receive Payments When Starting Foreign Trade

Q1: What is the first step for receiving payments in foreign trade?
A: Open a corporate account with a foreign trade-friendly bank like CBiBank, which supports multiple currencies.

Q2: Can new exporters handle both goods and service payments in one account?
A: Yes. CBiBank supports different trade types, making it easier to manage income from varied sources.

Q3: Why do banks ask for documents before processing payments?
A: To comply with anti-money laundering and trade regulations, ensuring funds are legitimate.

Q4: How do beginners avoid late payments?
A: Provide clear account details to buyers and use banks with reliable international settlement systems.

Q5: Do small exporters get the same support as big companies?
A: Yes. CBiBank offers one-to-one customer service, helping even first-time exporters manage cross-border collections smoothly.

Conclusion

So, how to receive payments when starting foreign trade? The key lies in planning ahead: open a corporate account, prepare proper documentation, reduce risks of delay, and rely on strong customer service. With CBiBank, beginners can confidently step into international trade and focus on growth, not just on chasing payments.