xCurrency - convert & transfer

xCurrency is a user-friendly and innovative tool designed to address cross-border challenges effectively. Offering an advanced built-in calculator and international remittance services, xCurrency excels in handling complex tasks across various scenarios. 

Key features and functionalities:

1.Currency Converter：Convert currencies swiftly, monitor exchange rate trends, and seamlessly sync with Apple Watch. Praised by Apple Store and IT blogs as a vital currency conversion tool.

2.Cross-Border Remittance：A secure and transparent means to send money to China from locations such as Japan, Australia, and Europe. Continuously expanding into additional markets.

3.International Tuition Fee Payments：Facilitates students in making payments to over 3,000 educational institutions for tuition, insurance fees, deposits, and rent.

4.Vibrant Design：Boasts an enhanced interface with engaging illustrations and interactions, along with customizable settings for users.

5.Minimalism：Embraces a minimalist visual design and straightforward user experience to enhance usability.

Why choose xCurrency - convert & transfer?

Data Privacy Protection

We innovatively store KYC data on-chain, ensuring regulatory compliance and safeguarding user data, enhancing platform trust.

Compliance and Stability

We utilize blockchain for enhanced security, transparency, and efficiency, accelerating transactions and reducing fraud risks.

Lower Costs with No Middlemen

Our digital tokens simplify cross-border payments, eliminating high fees and lengthy processing times.

Steps to Complete Your Remittance

Step 1: Add Payer Information

Begin the remittance process by accurately providing the sender's details. This includes essential information such as the sender's name, address, and contact information. Ensure that all data is correct to avoid any issues during the transaction. Double-check for typos or inaccuracies, as this information is crucial for verification and processing.

Step 2: Submit Transaction Details

Once you have filled in the payer information, proceed to submit the transaction details. This step typically involves entering the recipient's information, including their name and bank details, along with the amount you wish to send. After reviewing all entered information for accuracy, click 'Submit' to initiate the verification process. Depending on the service provider, this process may take a few moments as they validate the details provided.

Step 3: Await Payment Confirmation

After submitting your transaction, you will need to wait for payment confirmation. During this time, the system will process your payment and verify all details. You can track the progress of your remittance through the application or website. Notifications may be sent to inform you of any updates or if further action is required on your part. Once confirmed, you will receive a notification indicating that the funds have been successfully transferred.

You may want to know:

1. How long does it usually take for each transaction?

Once the order is approved, the system automatically disburses funds in real time.

Orders need to be reviewed in accordance with relevant laws and regulations. Each batch of orders usually requires 1 to 2 hours, depending on whether the completeness of the materials related to the transaction meets the requirements.

Customers with continuously good transaction records within our system, who are on the whitelist, will enjoy priority review or simplified procedures.

2. What materials are needed for C2C remittances?

We are directly connected with the banking system, and keep consistent with local regulation on compliance requirements, needing to verify the authenticity of the source of funds and purpose of cross-border remittance transactions. For example, funds declared as salary income require corresponding proof of income, such as the payer's local payslip, bank statement, or tax bill, etc.

3. What are the KYC requirements for both the payer and the payee?

The following information of the payee needs to be submitted:

    Basic information

    Name, ID number, Mobile number, Bank account

    Other information

    Gender, Occupation, Validity period of ID card, Residence address etc.

The following information of the payer needs to be submitted:

    Basic information

    Name, nationality, gender, date of birth, ID number, Country and validity period of ID card, Bank name, bank account

    Supplementary information

    Occupation, Residence address, Relationship between payer and payee

Other information

    Source of funds, Purpose of remittance

4. How many banks support to receive CNY?

Almost all bank cards and accounts within China are supported for withdrawals, with a few exceptions in rural commercial banks or village banks due to lack of system support. We will periodically update the list of banks that do not support withdrawals.

5. Are there Any Limits on C2C Remittances?

C2C remittances are targeted at individual remittance products, reflecting reasonable personal income, remittances are usually small transactions. If there is a need for a higher amount of personal remittance, further proof of income source is required for verification. In addition, in some goods trade transactions, the supplier may provide a personal account for receiving payment, in this case, it is not applicable to personal remittance products, the correct approach is to choose to use the B2B goods trade payment product of Simple Currency.

6. How to Prove Familial Relationship?

The C2C Payout product is intended to provide a digitized remittance product of value to people's livelihoods, and we welcome C2C remittances that can effectively prove familial relationships, to serve more families with genuine cross-border needs. It is recommended to advise the payer before placing an order, to only remit to related relatives appearing on currently supported proof of familial relationship documents, such as a household register, marriage certificate, birth certificate, notarized certificate issued by authoritative bodies, etc.

7. What types of remittances do you support?

The C2C Payout product mainly supports personal types of remittance, for instance, individuals working overseas remitting income back to personal accounts of the same name domestically, or to the accounts of their family members. However, please note, if an individual remits to another individual who cannot prove a familial relationship, the transaction will be rejected. For example, if Individual A runs a shop and makes a purchase from Individual B, the payment from A to B is actually a supplier payment, applicable to the B2B Payout product.

Features:

- Secure Remittance with Bank-Level Encryption: Efficiently send money using AUD, JPY, and EUR to CNY with the lowest costs and no hidden fees, ensuring confidentiality and safety.

- Global Financial Compliance: Holds a Money Service Operator license from Hong Kong Customs, partnered with reputable financial entities like Dow Jones, Barclay, Fintiba, Sunrate, etc., alongside employing the xCurrency Blacklist Database to reject unlawful funds.

- Smart Conversion: Equipped with built-in units for easy searching, automatic local currency switch, and quick conversion by entering the amount.

- Easy Check: Offers access to 158 currencies, 100+ cryptocurrencies, and precious metals, displaying real-time exchange rates, 24-hour trends, and 3-year price tracking through multiple sources.

- Personalized Experience: Allows customization of the homepage between remittance service or converter and provides a centralized dashboard for managing accounts and orders efficiently.

For more information, reach out to hi@tratao.com for any suggestions or queries related to xCurrency.