My friend encountered an unprecedented crisis when withdrawing funds!!!
Not only is the withdrawal account inexplicably frozen, but you may also get involved in a huge legal dispute, even facing hefty fines of hundreds of thousands and several years in prison.
Have you encountered such problems? Do those years of accumulated wealth have to turn to ashes? Are you ready to face any potential misfortunes that may suddenly strike?
I have organized a step-by-step withdrawal tutorial, which minimizes withdrawal risks. You could say there is no other tutorial on the internet as comprehensive as this, allowing you to secure your funds directly. So please like, follow, and save it to prevent losing it. Treasure this!!
You need to understand - the first step for overseas withdrawals is to solve the problem of global payments, so you need an account to receive 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 US or UK.
As a legitimate global payment channel, a reasonable overseas entity is needed. There are many ways to open an overseas entity, and if you are abroad, it will be more convenient. If you are within the country, you can use the Taobao agent registration plan or choose to register via an agency website.
You need to create an account on the agency website, scan your 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, and it takes about a week.
Step two
Many verifications require an overseas mobile number, so you need to apply for an overseas SIM card that can receive SMS verification normally within your country. Search on Taobao to buy a UK SIM card, after it is mailed to your home, go to the official website to activate it. You can buy the lowest package, which is about 6 pounds per month. After activation, you can receive SMS verifications for various global products within your country. You see, this little bit of information is something the entire internet won't tell you.
Step three
After successfully registering a UK company, you will receive the registration details of the UK company via email, including the company name, business number, address, and other information. With this information, apply to open a UK bank account with Wise.
Note: If Wise restricts opening an account for UK companies, you can consider using WaliPay as an alternative. WaliPay is a product under Alibaba, and opening an account is relatively easier.
For example, you can choose to open a USD account, a GBP account, and a EUR account for foreign currency receipts.
Step four
After successfully opening a corporate account, you can apply for a third-party payment platform merchant, with Stripe being the first choice.
To create a new merchant on Stripe, you need to fill in the company's basic information, including the legal person's name, address, and a description of the business activities.
A Stripe account can support multiple merchant accounts, allowing the same company information to be reused. If you have a wide range of business products, you can create multiple Stripe merchants, connecting each product to a different Stripe merchant, reducing the risk of putting all your eggs in one basket.
With a company entity and a corporate account, creating a Stripe merchant is generally approved quickly. You may be required to upload proof of address documents, and you can directly use the company's registered address.
Of course, besides Stripe, there are other third-party payment platforms that can serve as alternatives. You can open a few more just in case!
Step five
After using a third-party payment platform for a while, there will be a certain accumulation of funds in your third-party payment merchant account.
You can choose to withdraw funds to your overseas bank account, generally needing to select the currency for withdrawal, set it to automatic withdrawals based on time or amount, or withdraw manually.
And all these operations have funds that are reasonably and legally existing in your overseas account. If you don't have plans or intentions to launder money, how should you spend?
We have completed the entire process of global payments, and next, we can consider how to spend these funds.
There are many ways to spend; the most common spending plans include using funds from the overseas corporate bank account to purchase goods and services. Besides opening a corporate account, Wise also supports opening personal accounts. The corporate Wise account can issue multiple physical or digital cards for the legal person or team.
Digital cards can be directly linked to Apple Wallet for spending or online payments for website services and products, such as ChatGPT, Claude's subscription services, etc.
Final step
How to transfer money from an overseas corporate account to an overseas personal account for spending abroad; if you are preparing for a trip abroad, you may want to transfer money from the overseas corporate account to a personal bank card for direct offline spending.
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 through the app, and you can receive it in about three days within the country.
Some friends will go to Hong Kong to open a HSBC bank account. The effective method is to apply for a Premier card directly in the VIP lounge.
Transfer money from an overseas corporate account to an overseas personal account, bind it to WeChat Pay, and spend it domestically, as people within the country prefer to use WeChat or Alipay for payments.
If you are used to using WeChat Pay, you can enter 'Hong Kong Wallet Activation' in the WeChat search box to access the self-service activation page. Choose 'Bind a bank account issued in Hong Kong,' and bind the Bank of China Hong Kong card you activated above to open the Hong Kong Wallet.
The Hong Kong wallet binds to ZA Bank, requiring verification of a Hong Kong ID. If we don't have a Hong Kong ID, we can only bind the Bank of China Hong Kong card and then transfer the money from ZA Bank to the Bank of China Hong Kong card for spending in WeChat.
Transfer money from an overseas corporate account to an overseas personal account, then to a domestic personal account for domestic consumption; some may want to use their domestic bank cards to pay for a mortgage and want to transfer money from their overseas personal accounts to domestic bank cards.
This plan is available in the Bank of China Hong Kong app, which has a 'Quick Remittance' function that can transfer to domestic bank cards. There is also a 'Easy Account Opening' function that supports remittance to Bank of China accounts with the same name within Guangdong Province.
If using ZA Bank or other Hong Kong bank accounts, you can use products like 'Panda Express Transfer' to remit to domestic bank cards.
Have you learned? This is the safest method on the entire internet! There are no others.
If you have any questions, feel free to ask me in the comments!