So we’re trying to order products now for higher quantity. We been using PayPal but it’s no longer feasible. Now we have to use T/T bank transfer. We’re afraid if we transfer the funds there won’t be any guarantees. What’s the best way to transfer funds and be secure in case the supplier doesn’t uphold their end of the bargain?
I know Alibaba has the Trade Assurance (http://tradeassurance.alibaba.com/bao/buyer_advertise.htm). I’m sure there are many other insurances outside of Alibaba that you could get. In case you do T/T transfer, I would suggest to use TransferWise in order to save on bank fees. That’s what we do and it works great. Follow this link to get your first transfer for free: https://transferwise.com/u/737cbf
That’s why when you start out over here it is important to work with some people you can trust. Not only for payment but for product development and quality control and production management. Nothing worse than either missing the season because of product reworks or receiving a container of defective or damaged product
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