Wiring Money to a Supplier? Read This First!

It's the moment of truth in any import deal: sending the wire transfer (Telegraphic Transfer or T/T). Your finger hovers over the button to send thousands of dollars across the world. This single action is often the point of maximum risk and anxiety for an importer. Once that money is gone, it's virtually impossible to get back.

Is the supplier legitimate? Are the bank details correct? What if the goods aren't right? At Befach.com, we've built our entire process around securing this critical step. Before you send a single rupee, stop and perform these essential checks.

1. Check the Beneficiary Name and Account Type

This is the #1 check to prevent basic fraud. The name on the bank account you are sending money to must match the company name on your Proforma Invoice (PI).

• Company Account Only: The payment should go to a corporate bank account.
• The Biggest Red Flag: If the supplier asks you to pay into a personal bank account (e.g., "Mr. Wang" instead of "Shenzhen Trading Co., Ltd."), STOP IMMEDIATELY. This is a classic sign of a scam, as it offers you zero legal protection.

2. Verify the Bank's Location

Check the location of the beneficiary bank. Does it make sense? If your supplier's factory is in Shenzhen (a major industrial hub), but their bank account is in a completely different, remote province, it warrants a question. While there can be legitimate reasons, it can also be a sign of a shell company. A quick check on a map can provide valuable context.

3. Beware the "Last-Minute Change" Email Scam

This is a sophisticated and increasingly common scam. Hackers compromise a supplier's email account and monitor their conversations. Just as you are about to pay, they will send you an email from the supplier's legitimate address saying, "Our old bank account is under audit, please send the payment to this new account." The "new account" belongs to the scammer.

The Golden Rule: If you ever receive a notification about a change in bank details, you must verify it through a different communication channel. Pick up the phone and call your trusted contact at the company or have a video chat to confirm the change verbally. Never trust a change of bank details via email alone.

4. Confirm You Have Pre-Payment Proof

For a final balance payment, never pay in a vacuum. You should have proof that your goods have been produced correctly and are ready for shipment.

• Pre-Shipment Inspection (PSI) Report: You should have a passing report from an inspection that confirms the quality and quantity of your goods.
• Copy of the Bill of Lading (B/L): This proves the goods have been handed over to the shipping carrier.

These documents are not just for your peace of mind; they are essential for the customs clearance process in India, which is overseen by the CBIC. All international payments are also subject to guidelines from the RBI.

The Befach Solution: A Secure Payment Environment

At Befach, we eliminate these risks from the very beginning.

• Our sourcing service thoroughly vets every supplier, including their legal and financial credentials, so you're only ever dealing with a legitimate, verified company.
• We manage the pre-shipment inspections and logistics, ensuring you have all the necessary proof before any final payment is recommended.

We create a transparent and secure environment where you can make payments with confidence, not anxiety.

Import with Confidence, Pay with Certainty

Protecting your capital is paramount. By following these checks, you can drastically reduce your risk and ensure your import journey is a successful one.

Ready to work with a partner who prioritizes your financial security? Contact Befach today for a secure, end-to-end import solution.