We offer financing for up to 50% of the total invoice value with a 5% interest. Financed amount plus interest is payable after your shipment has cleared from customs. For example:

Let’s say your order is worth $20,000. The maximum amount we can finance is $10,000.

You will remit to us $10,000 (your 50%) + P1500 wire transfer fee. We will be the one to transact with your supplier. If you need to buy USD, we also offer currency conversion.

Once your shipment arrives and clears customs, we’ll send you a bill for the $10,000 we financed, the 5% interest which is worth $500, and the importation fee. 

Once you’ve settled that, you can pick up your shipment, and we’re done 🙂

When you’re ready to pay your supplier, you have a number of ways to go about it. 

Alibaba Trade Assurance (if you’re buying from Alibaba) and Paypal are your choices if you want to pay with a credit card. But paying with a credit card is only ideal if your purchase is relatively small because there is a transaction fee of anywhere between 2.5% to 3%, and  the highest exchange rate is usually applied when your local currency is converted to your supplier’s currency.

In terms of safety and ease, these methods are the best. But it’s not the cheapest way to go. You can use your own account or you can use ours for a fee of P500.

Remittance is another way to go if you don’t like dealing with paperwork. This type of payment is done through companies like Western Union, Money Gram, and Xoom. The three downsides to this are: 

1. Personal safety risk of carrying cash to the shop. 
2. Higher than credit card percentage-based fee
3. This transaction is strictly person-to-person only. All the receiver has to do is show a valid ID and the cash is all his. The remittance company offers the buy no protection against fraudulent transactions. They don’t care what the money is for, whether the transaction is legitimate or not.

This type of payment is only recommended if you know and trust the person receiving the money.

Wire Transfer, also known as Telegraphic Transfer or TT, is the most established of international B2B payments. The small transaction fee is fixed regardless of the amount (not percentage based). The problem is if you’re in the Philippines, you can’t wire funds to company as an individual. It has to be company to company, and your bank account has to be of the same currency as the recipient’s bank (i.e. USD account to USD account). 

If you don’t have a company and a business USD account, or if you do but for some reason you don’t you’d rather not have the transaction reflect in your records, or you just want to avoid dealing with the bank requirements, you can have us wire the payment on your behalf. Our flat fee is only P1500 regardless of the amount you want us to wire.

Buying USD from a money changer comes with its dangers, in exchange for the convenience of not having to fill up paperwork and proving that you’re not going to use it for anything less-than-legal. It’s not unheard of, people getting mugged after the exchange.

If you buy USD from the bank, it’s safe, but you’d have to fill up the said paperwork, tell them what the money is for, and if you tell them its for travel money just to avoid having to prove you’re not up to anything suspicious, you can only buy so muc. And they’re keeping a record of your purchase too – down to the serial numbers of the bills you received. 

If you convert your peso to dollars (or vice-versa) with us, you don’t even have to leave your home or office. Just call or send us a message, ask for the rate, deposit to our account the money you want changed, and we’ll deposit the converted funds to your account. Fast, easy, and no questions asked 🙂