Is it OK to send payment directly to a seller's bank account?

Global SourcesUpdated on 2024/05/21

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Full Question Is it ok to send payment straight to a seller's account? The last time I ordered with this company I sent payment with Escrow. This time they asked me to pay straight to their bank account? Is this a good or bad idea?

Answer I would be very concerned if the account they are asking you to pay to is a private account rather than corporate account. Check out this report on a scam where a 3rd party hacks the factory email and convinces the buyers to pay to a new account: How to protect yourself from this China sourcing scam epidemic

As a rule of thumb,

a) Make sure the name on the contract is the same as bank account.

b) Don't send large payments to private accounts.

c) Visit the supplier for audits and inspections during your order.

Here are some related blog posts and short videos about sourcing safe from China:

http://www.smartchinasourcing.com/home/paying-suppliers.html

Video1: Finding suppliers Video2: Evaluating suppliers Video3: Negotiations Video4: Project management and quality control Video5: Protecting your intellectual property Video6: Leveraging Global Sources Video7: How to find and manage partners for logistics services Video8: Avoiding Scams Video9: Returning defective merchandise to China Video10: Resolving a dispute

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Is it OK to send payment directly to a seller's bank account?

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