Best way to pay a Taiwan invoice?

[Robbied196]

I'm about to confirm an order with a large company in Taiwan, they have requested a (T/T) I think what we would call a bank transfer, this seems to be how they receive all their payments. They don't take Paypal and I've seen no mention of credit card payments. They have requested US dollars so I was going to convert the amount to Stirling and transfer the payment.

I make bank transfers to pay invoices in this country, but in the back of my mind I'm thinking I have no protection should the goods not turn up. Is there a secure way of transferring money that leaves you with some claim if it did all go pear shaped?

I've looked at the transferwise.com website that seems to offer a low cost way of making a transfer without any hidden charges in the exchange rate, but there doesn't appear to be any extra protection.

 

[LPB 123]

T/T are the most common form of payment. We pay all our suppliers by T/T now through Caxton FX (was mentioned by another UKBF member and they've been great, saves a lot of money on transfers).

However if it was our first order with a supplier we would only pay through Alipay, Alibaba Trade assurance or Paypal for the smaller ones. The only real way to guarantee you're going to be covered is by using some form of escrow payment. If all goes smoothly then pay by T/T on future orders. If they're serious about your long term business they shouldn't have any issues accepting any of the payment methods mentioned above.

 

[Robbied196]

Thanks for the useful info. On looking further at transferwise they won't send US dollars to Taiwan!