Personal advice:
The way of foreign exchange settlement at Ali International Station is more professional. In most cases, I suggest that users reserve at least three working days to complete foreign exchange settlement and various account operations in this way. The reason for this is that as long as the settlement itself has a certain time limit and needs to meet the corresponding trading requirements, in most cases, the trading rules can be met within three working days, and unnecessary troubles will not be caused by trading problems.
Ali International Station has three ways to settle foreign exchange;
Export draft: the international practice of "negotiation", also known as foreign exchange payment and settlement, means that the negotiating bank purchases the bills and documents of the exporter according to the terms of the letter of credit, and deducts interest from the par value from the negotiation date to the expected receipt date, and the balance is converted into RMB according to the foreign exchange rate on the negotiation date and distributed to the export enterprises.
Settlement of foreign exchange after receipt: it is "receipt before settlement", that is, the negotiating bank of the letter of credit sends the export documents of the export enterprise to the foreign paying bank for payment, and when it receives the letter of credit notice that the paying bank will transfer the payment to the negotiating bank's account, it will be converted into RMB according to the foreign exchange rate at that time and allocated to the exporting unit.
Regular settlement of foreign exchange: the negotiating bank determines a fixed settlement period in advance according to the time required to claim from the foreign payment bank, and agrees with the export enterprise that after the expiration of this period, regardless of whether it receives the payment from the foreign payment bank, it should actively convert the ticket amount into RMB and transfer it to the export enterprise.
Settlement of foreign exchange refers to the settlement of purchase and sale of foreign exchange by enterprises or individuals according to the exchange rate. According to the needs of import business, professional import and export companies buy foreign exchange from professional foreign exchange banks in their own currency according to the foreign exchange quotation published by the state, or sell the foreign exchange obtained from export to foreign exchange banks at the quotation price and convert it into their own currency. This behavior is called foreign trade settlement. China's foreign exchange quotation regulations are published daily by the Bank of China, and foreign exchange management is also carried out by the Bank of China. There are buying price and selling price. The selling price is higher than the buying price, and the difference between them is the handling fee of bank exchange, or exchange income.