How Our Lingerie Factory Simplifies Payments for Russian Clients (VTB Account Guide)?

  In today's complex international financial landscape, cross-border settlements have become the most challenging aspect of China-Russia trade. This is particularly true for the lingerie industry, where rapid seasonal product launches demand highly efficient cash flow management. For Russian lingerie retailers and wholesalers, finding high-quality Chinese suppliers is merely the first step—the greatest pain point often lies in executing payments securely and cost-effectively.

  As a source factory with over a decade of expertise in the lingerie export industry, we have consistently focused on global market expansion, particularly the vast opportunities in Sino-Russian trade. With the continuous deepening of economic and trade cooperation between China and Russia, export orders for lingerie to Russia have risen year after year. However, the instability of traditional cross-border settlement channels and high exchange costs have become key bottlenecks hindering business expansion. After extensive research and practical testing, our company has officially opened an account with VTB Bank (Russian Foreign Trade Bank), establishing a secure and efficient financial bridge for lingerie trade with Russia. This article provides a detailed breakdown from a lingerie manufacturer's perspective, covering the value of opening a VTB account, a comprehensive step-by-step guide, and practical considerations.

  VTB Bank (VTB Bank for Foreign Trade) is Russia's second-largest bank, with the state holding an absolute majority stake. It serves as a core pillar of Russia's financial system. As a systemically important institution, it leads national major projects and defense financing. In foreign trade, it functions as a key hub for Russia-China cross-border settlements, holding an irreplaceable strategic position in countering sanctions and promoting settlement in local currencies.

Opening a ZTB account is currently the strategic priority for China-Russia trade, offering core benefits including:

1.Sanctions circumvention: Utilizes an independent settlement system bypassing SWIFT, completely avoiding risks of fund freezing or chargebacks.

2.Direct currency exchange: Supports direct RMB-RUB settlement with preferential rates over market rates, eliminating high USD intermediary fees.

3.Instant Settlement: Leveraging VTB's Shanghai branch enables same-name intra-bank transfers, with cross-border funds arriving in seconds.

4.High Returns: Ruble deposit rates remain elevated (approx. 20%) through 2025, offering a powerful tool for capital preservation and growth.

5.Efficient Approval: Specialized compliance review for Russia-focused trade backgrounds yields significantly higher approval rates than standard commercial banks.

1.Russian clients will receive complete MT103 remittance instructions from the Chinese supplier:

● Beneficiary Name: 

● Beneficiary Account Number: 

● Beneficiary Bank: Bank of China, Shanghai Branch

● SWIFT Code / BIC: 

● CNAPS Code: 12-digit China National Interbank Payment System code (critical for CIPS clearing).

● Remittance Reference: Must include Contract No. [Contract Number] and Payment for [Goods Description].

2.Russian clients must log into their online banking or visit a branch to convert rubles to RMB (or use RMB directly) before initiating the transfer.

● Recommended Currency: Chinese Yuan (CNY). Avoid sending rubles.

● Fee Responsibility: Select “OUR” (sender bears all fees). Choosing “BEN” (beneficiary bears all fees) may result in insufficient funds reaching the supplier due to intermediary bank deductions, triggering bank risk controls and causing delays.

3. Funds in Transit and Monitoring

Russian clients must immediately send the remittance slip to the Chinese supplier after transferring funds. The supplier must use this slip to match the bank's incoming payment notification.

4. Bank Compliance Review, Account Credit, and Exchange Settlement

Upon arrival at the Chinese bank, the compliance department will review the transaction. After approval, funds will be credited to the supplier's account.

  For 2025, Russia's e-commerce platform Wildberries (WB) mandates formal customs clearance (white customs) for imported goods. Core requirements include:

- Importers must be Russian-based entities completing formal customs clearance to obtain GTD (customs declaration) and pay taxes compliantly.

- Full supply chain compliance with platform and Russian customs requirements for documentation, certifications, labeling, and taxation must be met.

Failure to comply will prevent goods from entering warehouses or being listed.

How can S·KAIFEI assist Russian merchants facing this challenge？

Step 1:

Secure the “Entry Key” – Certification and Labeling

1. EAC Certification (CU-TR)

S·KAIFEI holds the latest EAC certificates. For our clients, we can provide scanned copies of EAC certificates for upload to WB's backend for “WB Certification” review.

2. Electronic Labels

Obtain labels through the “Honest Mark System” (Честный Знак). Our factory prints and affixes these labels to each product's hangtag or packaging (or smallest saleable unit), ensuring smooth warehouse entry.

3. Russian Labels & Care Labels

We customize exclusive labels and care labels per client requirements:

- Composition (e.g., Хлопок 100%)

- Country of Origin (Сделано в Китае)

- Size

Step 2:

Commercial Documents

1. Commercial Invoice

We prepare invoices based on declared customs value. 

2. Packing List

Our company details the quantity, size, and color of each undergarment per carton. Used for customs inspection and client receipt verification.

3. Bill of Lading

Issued based on your chosen logistics (sea freight to St. Petersburg, rail to Moscow, or air freight).

  As a professional lingerie factory with 17 years of experience, we specialize in:

Product Categories: Bras, panties, seamless underwear, shapewear, etc.

Flexible Customization: Supporting OEM/ODM to meet Russia's specific sizing and style demands.

Quality Assurance: Rigorous QC processes ensure every piece meets international standards.

Whether you're a Moscow trader or a St. Petersburg brand owner, now you can source premium lingerie from China as easily as domestic transactions via VTB remittance.