Frequently Asked Questions

Where is PingPong based?

PingPong was founded in New York City in 2015 and we have offices in 5 countries around the world. Our global HQ is in China. Our US office is based in San Francisco.

How much does PingPong Charge?

PingPong has some of the most aggressive pricing in the e-commerce industry when it comes to foreign currency conversions. We never charge more than 1%.

Is my money secure with PingPong?

Yes! PingPong is a fully licensed Money Service Business (MSB), and we follow the strict guidelines set by the governing body in every country we operate in.
In the US our clients' funds are backed by Surety Bonds equal to 100% of the balance out in every state, and held in our FDIC insured partner banks for safe keeping.

Why do you request so many documents in order to approve our business account?

As a Money Service Business (MSB) we are heavily regulated and have to collect a lot of information (KYC aka Know Your Client documentation) to ensure that we are working with legitimate businesses and their owners.
Articles of Incorporation, Letters from the IRS with EIN/Tax ID Proof, & Driver’s Licenses/Passports are some of the easiest ways to identify and confirm the true business owners’ identities.

How does PingPong FX actually work?

We’ve partnered with Tier 1 banks around the world like Citibank, Wells Fargo, Barclays, etc. to establish virtual accounts in all major currencies. They’ve licensed these accounts to us, which we then sublicense to our clients.
This means that instead of Amazon (or other marketplaces) automatically converting your international earnings back into your native currency, they can disburse those funds in the currency / country in which it’s earned.
For example, if you’re an American company selling on Amazon Canada, you can have those funds disbursed to your PingPong Canada account in Canadian dollars. From there, you can take advantage of PingPong’s lower FX rates to put more of those earnings into your pocket when you convert back into your native USD currency.

Can I pay my international suppliers via PingPong?

Yes! You can add funds to your PingPong account or use your existing funds on balance to make payments all over the world in almost every currency.
If your supplier/receiver also has a PingPong Account then you can utilize the in network payment and the funds will arrive almost instantly and the payment costs nothing!

Can I also pay my international taxes via PingPong?

Yes! PingPong has a global tax portal that allows users to pay their international tax needs quickly and easily. You can use your existing balance of local funds to make that transfer without dealing with or paying any conversion costs.

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