In short: Most Irish importers pay Chinese suppliers by telegraphic transfer (TT/wire) in two instalments - typically 30% deposit before production, 70% before shipment. Letters of Credit (LC) suit larger, first-time orders where you want a bank to guarantee payment against shipping documents. Whichever method you use, verify the supplier's bank details by phone before every wire - this is where most payment fraud happens.

Last updated: August 13, 2026

What's the most common way Irish importers pay Chinese suppliers?

Telegraphic transfer (TT) - an international bank wire sent via SWIFT from your Irish bank to the supplier's Chinese bank account - is the standard method for most orders. It's fast, low-fee relative to order size, and every Chinese factory accepts it.

The usual structure is a 30% deposit once you confirm the order, with the remaining 70% paid once the supplier confirms goods are ready to ship - ideally after your own quality inspection, not just the factory's word.

TT vs Letter of Credit vs Alibaba Trade Assurance: which should you use?

How do you manage EUR/CNY exchange rate risk?

Because you're paying in a foreign currency (usually USD or CNY), currency movements between the deposit and balance payments can change your landed cost by a few percent. Irish importers manage this by getting quotes in a currency their bank can lock a forward rate on, paying balances promptly rather than delaying, and building a small FX buffer into their pricing rather than being surprised by it later.

What are the biggest wire fraud red flags?

• A last-minute change to bank details, especially by email, is the single most common fraud pattern. Always confirm any change by phone using a number you already have on file - not one in the new email.
• Pressure to pay immediately to "secure the price" or "hold the production slot" before you've verified the supplier.
• A company bank account that doesn't match the factory's registered business name on their business licence.
• Reluctance to use a Letter of Credit or Trade Assurance for a first, large order with a new supplier - a legitimate factory is usually comfortable with either.

FAQ

Is it safe to pay a Chinese supplier by bank transfer?

Yes, provided you've verified the supplier and their bank details independently - ideally by phone, and ideally before your first payment, not after. TT is safe in practice for the large majority of established trading relationships; the risk sits in verification, not the payment method itself.

What percentage deposit is normal when ordering from China?

30% deposit with 70% balance before shipment is the most common structure. Some factories accept 20/80, and very established relationships sometimes move to net payment terms after several successful orders.

Should I use a Letter of Credit for my first order?

For large first orders (roughly EUR 20,000 and above) with a supplier you haven't worked with before, an LC gives you real protection because the bank only releases payment against the correct shipping documents. For smaller or repeat orders, the bank fees usually outweigh the benefit.

Can I pay in euros instead of US dollars or Chinese yuan?

Some suppliers will quote and invoice in EUR, but most Chinese factories default to USD or CNY. Ask upfront, since paying in a currency your supplier doesn't normally use for costing can lead to unfavourable rounding on their side.

What should I do if I've already wired money to the wrong account?

Contact your bank immediately to request a recall - banks can sometimes intercept a wire within the first 24 hours - and report it to the Garda National Economic Crime Bureau. Speed matters more than anything else here.

How Epic Sourcing helps

Epic Sourcing's bilingual teams in China and Vietnam verify supplier bank details and business licences before any client wires money, and manage payment milestones as part of the sourcing process. Get in touch before your next payment to a Chinese supplier for a second set of eyes.

Related reading: Is Alibaba Payment Safe? Methods & Buyer Protection Guide | Sourcing Agent Fees in Ireland | How to Find a Freight Forwarder in Ireland