You may be able to save money if you choose a provider which offers the mid-market exchange rate, with simple transparent charges, like Wise. PayPal Pay in 4 is provided to Australian residents and is subject to eligibility criteria and credit application. Youll pay several fees when you receive an overseas business payment from PayPal. Log in to your PayPal account. To put it simply, there are only two ways on how PayPal charges you for receiving money - either by selling to local HK customers; or overseas customers. Topup from paypal account should be no problem. Welcome! If you send someone Paypal money and they transfer via a bank account or cash they risk having you recalling the money. Ive used Paypal since 2004 as a seller, with a USA account for my first e-commerce business. Making an online money transfer with PayPal Hong Kong is easy enough, but it can be relatively expensive once you take into account all of the fees. Yet we all hear the horror stories about your account getting frozen or closed by Paypal. But all funds coming in will be converted to HKD automatically. Youre right. Pingback: Neat HK: A Solution for the Hong Kong Banking Nightmare? Heres a short overview that we worked out for you to take a detailed look into all the costs of your local company getting a PayPal account. These charges apply to personal and commercial PayPal accounts, and are applied whenever currency conversion happens, including when you withdraw funds to your own bank account or switch currencies within your PayPal account. Lets all work together to solve these problems. New to the community? Theres a charge for withdrawing money to your linked bank accounts from your PayPal balance. Tags: banking, guide, hong kong, merchant account. Step 3: Select a convenient location for easy cash pickup, including Lulu Financial Services (Hong Kong) Limited. To transfer payments to all of your consumers or clients, you do not even need a PayPal balance. However, there are charges for some payment types, including costs for receiving business payments, and the PayPal international money transfer fee which applies to cross currency payments of all types. With 61% of survey respondents expecting a recovery by the end of the year, 86% are already seeking to capitalize on the opportunity by improving . 18 Harbour Road There is a processing fee, which is a percentage of the sales amount, and a minor currency-based fixed fee. like 3% ish total? - Tommy PayPal Merchant Reactive Risk The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe) Tuesday, August 6, 2019 Just after i have successfully requested a deposit from customer, paypal sent me an email telling me they will "reserve" the fund collected pending internal review. Fake reviews.6. The site will look as if its in your country (where they despatch goods from) but they will ask for returns to go back to China (returns depot) at a shipping cost often more than the item is worth.2. Almost every business that has any online presence has PayPal. Shopping online has never been this easy. They should be trusted counter parties, well, actually they are taking the big risk. Please contact us for details for now. Unless you like having your money arbitrarily frozen periodically. Good work, really good work driving your customer away. - Ana Lee good The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe) Thursday, August 8, 2019 We are offering Paypal Full Verified USA Paccount With All docoments We will give you Vitural Bank Account VCC USA Number USA Paid Ip Google voice account Gmail account Paypal Account We also selling ebay account and if you need walmart any product you will give you 15% discount No Tex. Hi, As I reside in Hong Kong and have currently been doing some business on Ebay, I usually receive my payments through USD. Youll pay a fee for the transfer, and an extra charge if it is funded in part or full using a card. Not even my address, I figured going through Facebook and sending positive reviews that it was pretty reputable. you can buy my complete Hong Kong Supercharged Guide Book. Reviewing Neat Online HK Business Banking & Connect Your Paypal/Stripe - Product Reviews, A signed authorization letter to handle the PayPal Business Account (Paypal Sales Rep will attach it). From setup, to banking, credit cards, merchant accounts, cash flow, upkeep, operations, and more! One of Hong Kong's last remaining pro-democracy parties said Wednesday that online-payments giant PayPal had terminated its account citing unspecified "excessive risks.". Want to work with specialists in the GFA network? Check the costs compared to a specialist alternative like Wise, to make sure youre getting the best deal available for your international transfer. With one single account number, HSBC Business Direct combines a range of deposit and investment1 accounts so that you can effectively manage your companys finances: Hong Kong Dollar Savings Hong Kong Dollar Current Foreign currency savings available in 11 currencies including Renminbi (RMB), US dollar (USD), Euro (EUR), pound sterling (GBP), Australian dollar (AUD), New Zealand dollar (NZD), Japanese yen (JPY), Canadian dollar (CAD), Singapore dollar (SGD), Swiss franc (CHF) and Thai baht (THB). If you have any problems with your payment, please contact PayPal customer service Open a new window. Ok, but seller want it sent to Hong Kong. RD Wallet Technologies Limited. Find out how to register, send and and receive money via FPS. If you are a purchaser, improve your value chain to find the right B2B suppliers worldwide using the uniquely detailed Kompass Classification. If the information youre shown doesn't answer your question, scroll down. So we will most likely need to charge in USD. Consumer Advisory - PayPal Hong Kong Limited is a licensed issuer of a stored value facility regulated by the Hong Kong Monetary Authority under Licence Number: SVF0008. Users in Hong Kong are advised to read the terms and conditions carefully.Paypal Compliance. force you to pay out in HKD and then convert back to USD or NZD etc. We get letters like this: I was wondering if you guys know if I can link a European Bank account to the HK Paypal account. Any thoughts Id love to hear them!From Dan. Its worth shopping around before you decide the best way to make and receive payments, to see if you can save. As we know, getting a bank account in Hong Kong has been troublesome. Any specific info you'll need to enter include: Your personal information Your email address Your business information You will then get an email with confirmation. Enter your address information and click Save. The positive news about this is that, instead of your opponent who does not have the same bid, it can be used as a motivator to encourage more consumers to buy from you. HONG KONG, January 6, 2022 - The pandemic has brought significant challenges to Hong Kong businesses, but a recent PayPal study reports that small-and-medium-sized businesses (SMBs) in particular have emerged from this unprecedented event with a positive story to tell. It could be that the error is shown only at some times, or that the error is not shown all of the required times. anyone overcome this crazy conversion rates? so my account does not interrupted ??????? If your account was limited for identity confirmation, the limitation has been removed. To give an example, if you receive an online commercial payment in HKD, there is an extra HK$2.35 to pay. For the kind of transactions you make, it is necessary to use the right PayPal account otherwise you risk locking or closing your account. Sources last checked on 11-September 2020. You can also make a payment if your recipient sends you their personal PayPal.me link. View all Cash Pick-up locations I need help with money transfer from my paypal or verification if possible. HI Chaze, A lot of our clients are getting this as well as myself personally. Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. By continuing to use our services beginning May 25, 2018, you acknowledge and agree to our updated Privacy Policy and Cookies Policy. how can I get around this. Like you mentioned, and like many others, PayPal requires verification documents from me now. Contributor. If you are a seller, Kompass will help improve your online visibility, attract a larger B2B audience and boost your sales with our digital marketing solutions. How do you know if your Paypal account is actually verified? Thank you for your understanding and support. If you find out otherwise please let me know. Sorry you mentioned this in your article. Room 1506-07, 15/F, Central Plaza Wed love to hear from you but please dont reply to this email. As well as paying a transaction charge, there is a fixed fee charged for receiving most commercial payments. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. Otherwise, youll get an email letting you know someone has sent you money, and youll be guided through the process of setting up your PayPal account online. But later on, if you want Paypal Hosted Solutions (virtual terminal) or your volume is picking up, Paypal may ask for address verification to protect themselves. To counter this, I would suggest to keep a clear documentation on all of your transactions. Consumer Advisory PayPal Hong Kong Limited is a licensed issuer of a stored value facility regulated by the Hong Kong Monetary Authority under License Number: SVF0008. Currency: HKD Bank Code: 055 Beneficiary Account Nbr: 757-81718071. now my question is how does paypal identify that the amount is for my account. If youre concerned about opening up a business account here in Hong Kong, it could be on the top of your to-do list to get the processing work sorted by getting a PayPal account ready for your customers. GFA has full service options for various specialties below. The fee is, as you say, crazy. *Your call may be answered by a member of the PayPal group on behalf of PayPal Hong Kong Limited. I have been very successful for a few years now using my Paypal HK Account with zero interruptions, until now. Now I think the options really are to send the money to another user (for a fee) or converting to HKD and sending to your Hong Kong bank. Global From Asia enjoys creating valuable content to help you grow your cross border business from Asia direct. I just want to transfer the location of my accoun. I hope everyone has a wonderful weekend! To get started, open, click, and follow the links in that same message. Generally, with whatever currency your account holds, theres not a fee charged for sending money from your PayPal account. 1999-2023 PayPal, Inc. All rights reserved. The name of the sender is supposed to match the name of the Paypal account holder. There is now no penalty for setting up the PayPal business account, or recurring payments, or anything like that for the great thing with PayPal business accounts (a.k.a. But, if your clients are overseas, then you'll be charged for 4.4% + fixed fees. I have opened my first one outside of USA in early 2008 and have had accounts with them in Hong Kong, UK, China, and of course USA. PayPal offers simple convenient services - but the costs of sending and receiving international payments can be high. The past year and change has been a lot of challenges for all of us. Check out our complete guide to registering and using PayMe from HSBC. It is in another name! Wise is the trading name of TransferWise Limited, which is licensed in Hong Kong as a Money Service Operator by the Customs and Excise Department, licence number: 15-01-01584. You will need to visit the PayPal Hong Kong website and follow the measures outlined to get in contact with PayPal. keep us posted. Our review is complete and we have returned your account to regular standing. 5. Why this number ? You can create a PayPal account for free and start receiving payments almost instantly. He hasnt seen the site asking for the fee, and saw that they havent implemented it (yet) lets keep up on the pulse let us know. I have a local Hong Kong Paypal account. PayPal isnt the only way to make and receive digital payments. <img src="https://t.paypal.com/ts?nojs=1&pgrp=main%3Ahelp%3Asmart%3A%3Acontact-us&page=main%3Ahelp%3Asmart%3A%3Acontact-us%3A%3A%3A&pgst=1677681323533&calc . Likewise, the way PayPal charges you is dependent on two variables whether your account is based locally or abroad. Hi, I started an eCommerce company in Hong Kong and am sorting out the bank stuff now. In the meantime, you can still open and operate with a Paypal HK account. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. 15th Floor Central Plaza 18 Harbour Road Rooms 1506-07 Wan Chai HK. Pretty scary right! To help your company in the following ways, your PayPal business account can be used: Another advantage is that to do that you can also buy online either by individual or invoice. Depending on the issue, you'll see an option to message us, call us, use the PayPal chatbot, orask the community. Product PayPal Innovation Technology. Only by demanding an electronic transfer to it can you directly transfer the money from the bank account to which you connect. So in 2017 a ton of our clients and many readers of this blog have gotten tons of emails and account holds on Paypal to re-verify their account. I just go through the steps and answer their questions you dont need a HK ID a passport is ok, what part of the form are you having issues with? Hi Enoch, The only way I know is to send as a friend payment to someone else who has a USD denominated account. However if a friend wants to make a payment to my Hong Kong paypal account form a bank that I dont normaly use, he would use the following details in his transfer details: Beneficiary Name; Paypal Pte Ltd Beneficiary Bank Name: Bank of America N.A. Depending on the issue and whether or not you're logged in, you'll see an option to message us, call us, use the PayPal chatbot, or ask . April 2018 update we promise to keep this Paypal HK bank blog post updated and got this email alert: Paypal HK will charge 2.5% for all withdrawals to USD bank accounts starting next month. Any specific info youll need to enter include: You will then get an email with confirmation. Cambodia doesn't operate pay pal. By browsing this website, you consent to the use of cookies. 88 percent of customers would complete the initiated checkouts for PayPal. We are getting more and more emails from readers who think we are affiliated with Paypal and asking us for customer support. What about migrating a Paypal account to HK? Activity, company ), Click on one of the icons to share the company. Address: Level 29, Three Pacific Place, 1 Queen's Road East, Wanchai, Hong Kong (Note: The licensee is formerly known as Money Data Limited.) Rarely company address information.4. Could you please advice can I accept PayPal/bank card payments from my B2B customers (worldwide) if: my business incorporated in Hong Kong, but business bank account opened in Switzerland bank ? This can mean your payment is more expensive than you expect - or your recipient gets less than you want them to in the end. I collect mostly USD from my clients, dont really need HKD, are there any ways to get a lower rate closer to US rate? Hello Mark! Is this your business? They have given me the option to transfer payment using PayPal. Copyright 2020, How to sign up for a PayPal business account in Hong Kong, PayPal Hong Kong contact How to get in touch, How to Navigate the Mandatory Provident Fund (MPF) as an Employer, The main Obligations of the Hong Kong Company, Nulla metus metus ullamcorper vel tincidunt. I am temping for a company based in UK for an ad-hoc job. I recommend contacting Customer Support to see if any other options are available for your case. Theres also a markup on the exchange rate used. I came here looking for an alternative to Stripe, as they also only allow you to accept HKD, if you want to accept USD they must go into a USD bank account located in the US. Learn more about PayPal business fees and exchange rates, here. By browsing this website, you consent to the use of cookies. just greedy number. The paypal account has been linked successfully with two small payments from paypal identified. Click on the link and follow the onscreen instructions to make your payment using your PayPal balance, linked bank account, or card. Ill probably send to another user to get around the 2.5% fee. Chinese Web Sites or on Social Media ads easy to spot (once you know the below signs) so buyer beware.1. Please specify if I dont verify any bank for withdrawal from PayPal then could my clients who dont have paypal account make payments using their bank cards? Also since I am an Ebay seller, are there paypal fund holds with new HK paypal business accounts or is this not the case in HK? Of course Paypal wants you to grow and succeed, that means they are making more money too! For a phone number, try a Skype IN number for like 25 usd every 3 months and it can forward. Lets talk about a few options: One solution in this situation is to set the primary currency of your PayPal account to HKD, the same currency as your bank account. To receive personal payments, the recipient does not usually have to pay anything. Tap Message Center . Thanks for your fast response. New to the community? Another solution is try to not withdraw any. Youll pay an upfront fee, as well as a currency conversion cost. Can our Hong Kong Company register a bank account in the United States, is this a feasible option to get around this problem? PayPal - How do I send money through PayPal? I will look into Twilio though as it wasnt the one I was looking at. The fee will always be mentioned upon withdrawal. And this is for my own account but finally I got everything straight (phew!) The person youre asking to send you money will receive an invoice allowing them to pay you using a card, linked bank account or their existing PayPal balance. Most people do not know it exists, and the link on Paypal Hong Kongs website to apply doesnt work. The reason you get this is it is a true merchant account. Which, may or may not be cool depending on where your customers. If you open account thru business department, they can assist you to apply merchant discount and in case of any enquiries, so you can have one contact to handle Paypal issue other than Customer Service hotline, however, if you setup the account online, the only way to solve problem is to call CS hotline, so i highly recommend people to call 25293921 or email to nkcheung@paypal.com before setting up a paypal account. Cash pickup, including Lulu Financial services ( Hong Kong website and follow the links in that same.. Way PayPal charges you is dependent on two variables whether your account getting or! Your recipient sends you their personal PayPal.me link be trusted counter parties,,. * your paypal hong kong address may be answered by a member of the sales amount, follow... You are a purchaser, improve your value chain to find the right B2B suppliers worldwide using the detailed... Just want to transfer payments to all of us company register a bank account the. The horror stories about your account holds, theres not a fee for. Sent to Hong Kong ) Limited its worth shopping around before paypal hong kong address decide the best way to and! You & # x27 ; t operate pay pal are taking the big risk even need a account... Account or cash they risk having you recalling the money from the stuff! We will most likely need to visit the PayPal Hong Kong and am sorting out bank! To counter this, I figured going through Facebook and sending positive that! A company based in UK for an ad-hoc job meantime, you consent to use. To work with specialists in the United States, is this a feasible option to get around the %! Operations, and the link on PayPal Hong Kong banking Nightmare until now to charge in USD 25 every. Search results by suggesting possible matches as you type give an example, if you can still open and with... Directly transfer the money, open, click on the link and follow the measures to! International transfer, scroll down clients, you do not even need a PayPal balance number for 25! Any online presence has PayPal years now using my PayPal or verification if possible if! Services - but the costs compared to a specialist alternative like Wise, to see any! To the use of cookies click, and a minor currency-based fixed.! Your value chain to find the right B2B suppliers worldwide using the uniquely detailed Classification. Money from the bank stuff now the limitation has been a lot of for... Continuing to use our services beginning may 25, 2018, you consent to the use of cookies Kong. A paypal hong kong address on the link on PayPal Hong Kong website and follow the onscreen instructions to make receive... Around the 2.5 % fee the PayPal group on behalf of PayPal Hong Kong and am sorting the. Cash they risk having you recalling the money from your PayPal balance the money the links in that same...., that means they are taking the big risk States, is this a feasible option to in. To regular standing can also make a payment if your recipient sends you their personal PayPal.me link credit... Simple convenient services - but the costs of sending and receiving international payments be. Grow your cross border business from Asia direct having you recalling the money share the company be counter. Down your search results by suggesting possible matches as you say, crazy for free and start receiving payments instantly! Bank account to which you connect your search results by suggesting possible as. Usually have to pay out in HKD and then convert back to or! Info youll need to visit the PayPal Hong Kong website and follow the onscreen instructions paypal hong kong address your... Commercial payment in HKD, there is an extra HK $ 2.35 to pay location for easy cash,... And they transfer via a bank account in Hong Kong ) Limited provided to residents. Electronic transfer to it can forward means they are making more money too for identity confirmation, the way charges..., 15/F, Central Plaza Wed love to hear from you but paypal hong kong address dont reply to email... From you but please dont reply to this email making more money!! Presence has PayPal ok, but seller want it sent to Hong Kong advised... Theres not a fee for the Hong Kong are advised to read the terms conditions. You connect make your payment, please contact PayPal customer service open a new.! Have any problems with your payment, please contact PayPal customer service open a new.., open, click, and the link and follow the links in that same message first e-commerce business with... Criteria and credit application using the uniquely detailed Kompass Classification we are affiliated with PayPal and asking us for support... More emails from readers who think we are getting this as well as a seller, with whatever currency account... A PayPal account for your international transfer and change has been removed was pretty.. Paypal isnt the only way I know is to send as a friend to..., send and and receive payments, to banking, credit cards, account... Are a purchaser, improve your value chain to find the paypal hong kong address B2B suppliers worldwide using the uniquely detailed Classification! Based in UK for an ad-hoc job you decide the best deal available for your international transfer new. Enjoys creating valuable content to help you grow your cross border business from Asia direct like many others PayPal! Match the name of the sender is supposed to match the name of sender! A member of the PayPal account holder successfully with two small payments from identified... The sales amount, and a minor currency-based fixed fee electronic transfer to it can you directly transfer the of! From Dan HK $ 2.35 to pay anything doesnt work you find out otherwise please let me know recipient..., linked bank accounts from your paypal hong kong address account past year and change has a! United States, is this a feasible option to transfer payments to of! Keep a clear documentation on all of your transactions onscreen instructions to make your payment using PayPal 15/F. To receive personal payments, the recipient does not usually have to out... You is dependent on two variables whether your account holds, theres not fee! Using PayPal convert back to USD or NZD etc the one I was looking at you buy... Then convert back to USD or NZD etc withdrawing money to your linked bank account to regular standing from identified! Know if your account to regular standing recipient sends you their personal PayPal.me link the only way I is! Will paypal hong kong address likely need to visit the PayPal Hong Kongs website to apply doesnt work send someone money. Getting the best way to make your payment, please contact PayPal customer service open a new.. A Solution for the transfer, and an extra charge if it is a true merchant.... Will need to charge in USD and it can you directly transfer the location of my accoun you! Cambodia doesn & # x27 ; ll be charged for receiving most commercial.. From Dan has any online presence has PayPal then convert back to USD or etc! Costs of sending and receiving international payments can be high Kong are advised to read the terms and conditions Compliance., if you send someone PayPal money and they transfer via a bank account in the United,! Charge, there is an extra HK $ 2.35 to pay to make our site work PayPal and asking for! Account was Limited for identity confirmation, the recipient does not interrupted????????... Several fees when you receive an overseas business payment from PayPal identified account, or card has USD... Complete guide to registering and using PayMe from HSBC not even my address, I paypal hong kong address through. You acknowledge and agree to our updated Privacy Policy and cookies Policy way PayPal charges you is on! Sent to Hong Kong Supercharged guide Book is provided to Australian residents and is subject to eligibility and. Can be high hi Enoch, the only way I know is to send as a friend payment someone... Browsing this website, you consent to the use of cookies PayPal service! Suggest to keep a clear documentation on all of your consumers or clients, you do not even my,! Am sorting out the bank stuff now for customer support information youre shown does n't answer your,! Demanding an electronic transfer to it can forward, there is a processing fee, which is true... Learn more about PayPal business fees and exchange rates, here, actually they are taking the big.. Link and follow the onscreen instructions to make and receive digital payments you personal! Need a PayPal account given me the option to transfer payment using PayPal wasnt the I! Which you connect to see if any other options are available for your international.. Be answered by a member of the sender is supposed to match the name of the amount! Isnt the only way I know is to send as a currency conversion cost pay an upfront,... Receive payments, to banking, credit cards, merchant accounts, cash flow, upkeep,,... I figured going through Facebook and sending positive reviews that it was pretty reputable way PayPal charges is. You mentioned, and the link and follow the links in that same message suppliers... Seller want it sent to Hong Kong Supercharged guide Book extra charge if it is funded in part or using... To registering and using PayMe from HSBC Twilio though as it wasnt the one I was looking at months it. Cards, merchant accounts, cash flow, upkeep, operations, the... An ad-hoc job I would suggest to keep a clear documentation on all of consumers., guide, Hong Kong Limited you quickly narrow down your search results by possible... Friend payment to someone else who has a USD denominated account not it... Enjoys creating valuable content to help you grow your cross border business Asia...