How do I pay the wholesalers in Yiwu?
If you buy directly from the Wholesaler, you can wire the money to their bank account. You should at all times refuse to pay in cash, or to private bank accounts.
Only pay to business bank accounts whose beneficiary name is matching that of the wholesalers.
It’s critical that the payment can be traced to the correct seller.
If you on the other hand work with a Buying Agent, you will pay them, rather than each individual Wholesaler.
The same rules apply here. Only pay directly to their company account.
Keep in mind that you should not pay the supplier in full until you have inspected the finished products.
Many Yiwu wholesalers aren’t even proper wholesalers. Instead, they take orders from foreign buyers back to their factories and deliver them a month or two later.
At this point, you might already be out of the country.
You must always, without exception, get your products quality inspected before paying your supplier in full.