My friend encountered an unprecedented crisis when withdrawing money!!!
Not only was the withdrawal account inexplicably frozen, but it was also embroiled in a massive legal dispute, potentially facing hundreds of thousands in fines and years of imprisonment.
Have you encountered such a problem? Does the wealth accumulated over many years have to turn into bubbles? Are you prepared to face the potential disasters that may suddenly arrive?
I have compiled a foolproof withdrawal tutorial. The risk of withdrawal is minimized, and there is no other tutorial on the internet that is so comprehensive, allowing you to secure your funds directly. So be sure to like, follow, and save this in case you can't find it later. Treasure it while you can!!
It's important to understand that the first step in overseas withdrawal is to solve the global collection issue, so you need an account to accept payments from global users!
Step One
You can find an agent on Taobao, pay 2,000 RMB, and within two weeks, register a company in the United States or the United Kingdom.
As a legitimate global collection channel, a reasonable overseas entity is needed. There are many ways to open an overseas entity; if you are overseas, it will be more convenient. If you are in your country, you can use Taobao's registration services or choose to register through an agent website.
The agent website needs to create an account, scan the passport, and complete the entire process on the website. You will receive an email to verify the information. The registration fee is several dozen dollars, taking about a week.
Step Two
Many verifications require an overseas phone number, so you need to apply for an overseas SIM card that can receive SMS verifications normally in your country. Search on Taobao for a UK SIM card, have it mailed to your house, activate it on the official website, and buy the lowest package available, which is about £6 per month. After activation, you can receive various SMS verifications for global products in your country. You see, this small information gap is something the entire internet will not tell you.
Step Three
After successfully registering the UK company, you will receive an email with the registration information of the UK company, including the entity name, business number, entity address, and other information. Use this information to apply for a UK bank account with Wise.
Note: If Wise restricts UK company account openings, you can consider Wanlihui as an alternative. Wanlihui is a product under Alibaba, and opening an account is relatively easier.
For example, you can choose to open a US dollar account, a pound account, and a euro account for receiving foreign currency.
Step Four
After successfully opening a corporate account, you can apply for a merchant on a third-party payment platform, with Stripe being the preferred choice.
To create a merchant on Stripe, you need to fill in the basic information of the company, including the legal representative's name, address, and a description of the business activities of the company.
A Stripe account can open multiple receiving merchants, reusing the same entity information. If your business has a wide product line, you can create multiple Stripe merchants, connecting each product to a Stripe merchant to reduce the risk of putting all your eggs in one basket.
With a company entity and a corporate account, creating a Stripe merchant can generally be approved quickly. You may be asked to upload proof of address documents, using the company's registered address.
Of course, apart from Stripe, there are also other third-party payment platforms that can be considered as alternatives. You can open several to have them ready for emergencies!
Step Five
After using a third-party payment platform to collect funds for a period, there will be a certain accumulation of funds in your third-party payment merchant account.
You can choose to withdraw the funds to your overseas bank account. Generally, you need to choose the currency for withdrawal and set it for automatic withdrawal based on time or amount, or withdraw manually.
All these operations involve funds that legally and reasonably exist in your overseas account. If you have no plans to withdraw them, how should you spend them?
We have completed the entire process of global collection. Next, we can consider how to spend this money.
There are many ways to spend money. The most common spending options include: using funds from an overseas corporate bank account to purchase goods or services; in addition to opening a corporate account, Wise also supports opening personal accounts. A corporate Wise account can provide multiple physical or digital cards for the legal representative or team.
Digital cards can be directly linked to Apple Wallet for consumption or for online payment services, such as subscriptions for ChatGPT or Claude.
Final Step
How to transfer money from an overseas corporate account to an overseas personal account for consumption abroad; if you are preparing to travel abroad, you may want to transfer money from an overseas corporate account to a personal bank card for direct offline consumption.
Applying for ZA Bank is relatively simple. If you are in Hong Kong, connect to Hong Kong Wi-Fi, download the ZA Bank app, apply online, and quickly open a personal bank account.
Apply for a physical card in the app, and it can be received in about three days in your country.
Some friends go to Hong Kong to open a HSBC account. The effective way is to apply for an exceptional card directly in the VIP room.
Transfer money from an overseas corporate account to an overseas personal account, bind WeChat Pay, and spend in your country, as people prefer WeChat and Alipay for payments domestically.
If you are used to using WeChat Pay, you can search 'Hong Kong wallet activation' in the WeChat search box, enter the self-service activation page, select 'Bind a bank account issued in Hong Kong', and bind the previously opened Bank of China Hong Kong card to activate the Hong Kong wallet.
The Hong Kong wallet is linked to ZA Bank, requiring verification of a Hong Kong ID. If we do not have a Hong Kong ID, we can only link a Bank of China Hong Kong card and then transfer the money from ZA Bank to the Bank of China Hong Kong card to spend in WeChat through the Hong Kong wallet.
Transfer money from an overseas corporate account to an overseas personal account, and then to a domestic personal account for domestic consumption; some may want to use a domestic bank card to pay for a mortgage and transfer funds from their overseas personal account to a domestic bank card.
This solution is available in the Bank of China Hong Kong app, with a feature called 'Bank of China Fast Remittance' that allows transfers to domestic bank cards. There is also a 'Easy Account Opening' feature that supports remittances to accounts with the same name at the Bank of China in Guangdong Province.
If you use ZA Bank or other Hong Kong bank accounts, you can use products like 'Panda Fast Remittance' to transfer money to domestic bank cards.
Have you learned it? This is the safest method on the internet! There is no other.
If you don't understand something, feel free to ask me in the comments!