1. PayPal is an international trade payment tool that can realize overseas collection and payment.
PayPal also cooperates with some e-commerce websites and becomes one of their payment methods; however, when transferring money using this payment method, PayPal charges a certain amount of handling fees.
2. E-CHECK is an Electronic Check, which is an unconditional digital payment instruction issued by the customer to the payee. It can complete all the functions of traditional checks through the Internet or wireless access devices.
An electronic check is an electronic substitute for a paper check. An electronic check changes a paper check into an electronic message with a digital signature, or uses other digital messages to replace all the information of a paper check.
E-checks, like paper checks, are a legitimate method of payment and use digital signatures and automated verification technology to determine their legitimacy. In addition to the necessary payee name, account number, amount and date, the check also contains encrypted information.
Extended information:
Withdrawal method of Paypal payment:
1. Send the funds to your bank account in China via wire transfer (telegraphic transfer bank)
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The withdrawal cycle is short and the fee is fixed; it is generally recommended that users withdraw a large amount at one time when they have a large balance to reduce withdrawal costs.
The minimum amount that can be withdrawn is $150. There is a $35 handling fee for each withdrawal. Funds will be deposited into the bank account within 3 to 7 working days.
2. Withdraw money to your Hong Kong account
You need to open a bank account in Hong Kong. The withdrawal cycle is short and the fee is low; but for sellers whose customer base is not in Hong Kong, there will be Higher exchange rate translation losses.
The minimum withdrawal amount is HKD 80. There is a handling fee of HKD 3.5 for purchases under HKD 1,000, and there is no handling fee for purchases above HKD 1,000. CMB All-in-One Card or ICBC (Asia) cards are accepted. In addition, when withdrawing funds to Hong Kong, the funds withdrawn are Hong Kong dollars, and there will also be a 2.5% currency conversion fee. Funds will be deposited into the user's bank account within 3 to 6 working days.
3. Withdraw money to your U.S. account
You need to open a bank account in the United States. The withdrawal cycle is short and a handling fee of US$35 will be charged for each transaction; it is not suitable for users in mainland China. Because I cannot apply for a U.S. bank account.
The minimum amount that can be withdrawn is $1. Funds will be deposited into the bank account within 3 to 4 business days.
4. Apply for a check from PayPal
The fee is low, but the withdrawal cycle is very long, and the check may be lost in the mail; it is suitable for people who want to withdraw small amounts of cash and are not tight on capital turnover. The minimum amount that can be withdrawn is $150, and it usually takes 4 to 6 weeks for the check to be processed. There is a $5 cash withdrawal fee per check.
Baidu Encyclopedia-e-check
Baidu Encyclopedia-paypal