What is Skyee? Skyee Review

Skyee is a one-stop fund management platform serving China's export foreign trade, providing overseas account opening, local collection and payment, exchange rate management and global clearing and settlement services for cross-border e-commerce sellers, traditional foreign trade companies and cross-border logistics companies.

About Skyee

Skyee is a licensed money operator in Hong Kong. With Hong Kong as its global trading center, Skyee integrates the local clearing network of global banks and domestic licensed payment institutions to provide customers with overseas local accounts, real-time exchange rate management and global clearing tools to comprehensively improve the global capital operation efficiency of cross-border trading companies and reduce foreign exchange risks.

Whether it is an import or export enterprise, a goods or service trade transaction (logistics, tourism, study abroad), as long as the relevant funds have a real and legal cross-border transaction background and comply with regulatory requirements, Skyee's one-stop fund management platform can quickly realize the entry and exit of funds, lock the exchange rate in real time, and clear funds to all parts of the world at a cost better than traditional banks.

·To date, Skyee has provided cross-border settlement services to more than 10,000 corporate users, with the platform transaction volume exceeding 10 billion. Skyee is one of the top ten payment companies in Guangdong Province and a key innovative cross-border payment collection company supported by Guangzhou City. It is regulated by the US and Hong Kong governments and is safe and compliant. It is the first and only company in the industry to adopt a transparent withdrawal exchange rate, promoting industry change.

Products

1. E-commerce payment collection

Supported platforms : Amazon, eBay, Cdiscount.

Supports 4 currencies : USD, EUR, JPY, GBP.

Advantages:

(1) Low cost: The rate is capped at 0.5%, the best rate in the market;

(2) Favorable exchange rate: one exchange rate per day, the last exchange rate before 10:00 am of the Bank of China;

(3) Multiple stores: one wallet, multiple stores, unified management;

(3) Easy to operate: online management, with clear background details;

(4) Fast withdrawal: the funds can be withdrawn on the same day at the earliest, accelerating capital turnover;

(5) Fast response: Domestic local customer service will help you solve your questions quickly.

Usage process:

Step 1: Apply for registration and submit KYC information: supports applications from individuals, mainland companies, and Hong Kong companies;

Step 2: After the review is passed, select the platform type, assign an account and bind it to the store. Amazon, Ebay, and Cdiscount are supported;

Step 3: After the platform releases the funds, you can apply for withdrawal by yourself. Withdrawals can be made to public accounts, personal accounts (legal persons or shareholders holding more than 25%), or third parties.

2. Foreign trade collection (offshore account)

Account type : Hong Kong offshore account, receiving wire transfers.

Supported currencies: Offshore Chinese Yuan (CNH), Hong Kong Dollar (HKD), US Dollar (USD), Euro (EUR), Japanese Yen (JPY), British Pound (GBP), Australian Dollar (AUD), Canadian Dollar (CAD), New Zealand Dollar (NZD).

Advantages:

(1) Simple requirements: no deposit or financial management is required, and no witness is required for account opening;

(2) Convenient operation: Apply online without leaving home;

(3) Quick account opening: Get an account on the same day at the earliest;

(4) Convenient exchange settlement: not subject to the USD 50,000 limit and no additional handling fees;

(5) 9 currencies for payment: RMB, USD, EUR, GBP, etc.

(6) Transparent exchange rate: Bank of China (Hong Kong) provides real-time foreign exchange rates, which can be checked at any time.

Usage process:

Step 1: Apply for an offshore account and submit KYC information: Support mainland companies, Hong Kong companies and self-employed individuals; need to submit the company's business license, the ID card of the actual controller of the enterprise (legal representative, shareholder), and company operating information;

Step 2: Bind withdrawal account: Account holder and account bank information are required;

Step 3: Confirmation of funds arrival: You need to fill in the merchant transaction list and provide trade vouchers;

Step 4: Apply for withdrawal: You need to fill in the order information. If you need to convert RMB into RMB, you need to provide logistics documents (customs declaration, bill of lading, sea waybill, order number). Withdrawals can be made to public accounts, personal accounts (legal persons or shareholders with more than 25%), and third parties.

3. VAT payment service

Covering Amazon sites : all European sites.

Usage process:

Step 1: Calculate taxes based on sales and report to the tax bureau. The UK pays taxes quarterly, while Germany pays taxes monthly.

Step 2: Remit the tax to the tax bank and remit it to the bank according to the amount.

4. Supplier clearing service

Model: Based on the capital inflow, exchange and clearing needs generated during the export and foreign exchange collection process of enterprises, Skyee, as a licensed foreign currency exchange and remittance institution, cooperates with the licensed payment companies authorized by the People's Bank of China and overseas financial institutions to provide enterprises with one-stop services for full compliance of capital clearing and exchange rate management. (One-stop service: collection → exchange → global payment)

Features:

(1) More compliant: All cross-border transactions are completed by licensed payment companies or overseas financial institutions authorized by the People's Bank of China, in line with the requirements of corporate formalization and financial auditing. When funds enter the country, related transactions are reported through payment companies for foreign exchange, serving foreign exchange regulatory requirements.

(2) More convenient: All transactions except the first contract are completed online; one-stop service for collection → currency exchange → global payment, customers only need to trade with Skyee; saving time (time limit T+1), cost saving, and simplifying financial work.

(3) More favorable fees

· Clearing fee: 0.1~0.2% for entry, 0.2% for exit (minimum 200RMB/time);

·Transparent exchange rate: Bank of China (Hong Kong) real-time foreign exchange rate, transparent and visible.

(4) Financial compliance guidance: Senior financial specialists will assist your company’s financial personnel in formalizing their compliance.

Usage process:

Step 1: Review qualifications, domestic company business license (three certificates in one) or Hong Kong company registration certificate/business registration certificate; personal ID card of legal representative and shareholder holding more than 25% of the shares; cross-border capital service cooperation agreement; declaration letter, supplier list, customer information collection form.

Step 2: Restore order and merchant transaction list.

Step 3: Provide documents that can prove the original and true transaction information (contract, invoice, delivery note, logistics information screenshot, etc.).

cost

Skyee only charges a 0.5% deposit fee to all customers using Skyee. In addition, there are no account management fees, withdrawal fees, or minimum withdrawal amounts. If you withdraw in the original currency (USD/JPY/EUR/GBP), the withdrawal fee is 10 USD/EUR/GBP, 1,300 JPY per withdrawal.

Calculation example: If you deposit 1000EUR from Amazon to Skyee, the deposit fee is 0.5%, and the actual amount received is 995EUR. The last exchange rate before 10:00 am on the day the funds arrive in China is 7.3560. The final withdrawal amount to your domestic RMB is calculated as follows: 995*7.3560=7319.22RMB

In addition, Skyee advocates open and transparent exchange rate quotes, without any hidden exchange losses or charges. Skyee provides a fixed exchange rate quote every day, referring to the last exchange purchase price of Bank of China before 10 o'clock on the day when the customer withdraws cash domestically.

FAQ

Q: Is Skyee's funds subject to a USD 50,000 foreign exchange settlement limit in the country?

A: Skyee is the exclusive domestic agent of cross-border payment companies authorized by the central bank. Foreign exchange settlement through the Skyee platform is not subject to the domestic settlement limit of US$50,000.

Q: How long does it take for the funds in my Amazon account to be transferred to my Skyee account?

A: Amazon's transfer time is determined by Amazon's clearing bank, which is generally 3-5 working days. In this regard, there is no difference whether you use different payment tools.

Q: How long does it take to withdraw funds from my Skyee account?

A: Whether you withdraw money to China or Hong Kong, Skyee promises to process your withdrawal request within 1-3 working days. In case of holidays, the time limit will be delayed.

Q: Why does Skyee need me to provide the authorization code of the Amazon store?

A: Restoring the transaction background of cross-border transactions is a core requirement of domestic regulatory authorities for cross-border payment of funds. In order to ensure transparency and compliance, Skyee needs to retain relevant transaction background certificates. The authorization code of your Amazon store is only used to verify the authenticity of the trade background. Your authorization code will not be used for any other commercial purposes.

Q: Will adding a Skyee account to my Amazon store cause the store to be associated?

A: There will be no association. Skyee cooperates with banks in various countries to open local bank accounts. The payment account assigned to each customer is independent, so you don’t have to worry about store association.

Q: Why was my change of Amazon store payment account subject to review?

A: Any seller who changes their store payment account number will need to be reviewed by Amazon. This is an important measure taken by Amazon to protect the seller's funds in order to prevent customer accounts from being stolen.

For more information about e-commerce payment collection, please visit the official website help center .

Development History

- In December 2016, Skyee was officially launched - it signed contracts with Aoji, Zongteng, and Bluedio on site, and joined hands with Solarisbank, a famous German technology bank. In 2016, the company also obtained the US MSB (Money service business) qualification and the US California government license; obtained the Hong Kong MSO (Money service operator) license; the e-commerce collection product was launched, and the domestic collection agency was the first to release the Euro local collection product; and obtained a bank credit of 2.8 billion yuan.

-In March 2017, branches in the United States, the United Kingdom, and Japan were established; and we officially landed on the Amazon backend.

-In April 2017, the number of users of the two major businesses, US and European payment collection, exceeded 5,000 within two months of its launch.

-In June 2017, we moved to a Grade A office building in Yuexiu District.

-In July 2017, Skyee joined hands with Lakala to start foreign exchange transaction management business; Skyee Japan site was launched to start receiving Japanese yen payments.

- In December 2017, Skyee was once again awarded the title of "Top Ten Cross-border Payment".

-In March 2018, Skyee was launched at USD 3.21, and the new Amazon single store bonus was permanently 0.4%.

-In April 2018, Accuity, an authority on financial compliance, signed a strategic agreement with Skyee.

Brand image upgrade

On October 12, 2017, it officially announced that its brand image would be upgraded across the board. It would no longer use the name "SKYEE" and would officially use "Skyee". Its brand logo and official website were also changed. As its overseas brand awareness increased, the original brand image was no longer suitable for brand business expansion and strategic planning needs, so it adopted a full English name and logo design.