Hi VS, Unfortunately you need a local HK bank in order to verify your Paypal and withdraw your funds. Sorry you mentioned this in your article. and got this email: 10 hrs ago service@paypal.com.hk started the conversation. New to the community? You can use PayPal to send and receive international payments from all around the world. Tap Message Center . We appreciate your patience and thank you for your help in making PayPal the safest and most trusted online payment solution. KOMPASS,
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. Youve already completed the following actions as part of our review: Weve received acceptable copies of the following documents or information: -> Identification document -> Proof of business address document -> Business registration certificate -> Letter of authorisation -> List of the beneficial owners and office bearers of your business -> Identification documents of the benficial owners. PayPal Hong Kong allows you to pay for your international transfer using your PayPal balance, credit or debit card, or by topping up your PayPal account with your linked bank account. If you transfer your current bank account to use your Hong Kong address, you should receive your next bill at your Hong Kong residence. Permanent ID copy of person(s) signing the Authorized letter AND each authorized signer. Want to save with international transfers? Of course Paypal wants you to grow and succeed, that means they are making more money too! Dec-07-2022 07:31 PM. Can you transfer your Paypal Hong Kong Account to a Paypal USA account? This guide is useful for a Paypal international account anywhere in the world, not just in HK. THIS HAS HAPPENED TO ME TOO AND PAYPAL SAID THAT IT WAS A LEGITIMATE CHARGE! Contributor. For general country-specific offerings and limitations, see PayPal Offerings Worldwide and visit your country-specific site. The merchant account). Product PayPal Innovation Technology. This means, you could cheat them by disputing the transfer. I use Transferwise to get US dollars out of PayPal and exchanged to Candian dollars. I have filed a case with Paypal and they are reviewing it. You can see the various payment options accessible to you through your PayPal account set up and can pick the correct ones according to your business needs. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. How to stop this scam: HONG KONG SOOUYA TECHNOLOGY LIMITED. It is availble on transactions between AU$30, and $1,500 and can impact a . Youll pay a fee for the transfer, and an extra charge if it is funded in part or full using a card. 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. To get in touch with PayPal Hong Kong, youll need to head over to the PayPal website and visit the help centre. The fee is, as you say, crazy. Purchase a URL of the e-commerce website with information on: a) terms of delivery; b) returns & exchange policy; c) privacy protection of customer information; d) customer service. Of course, based on whatever currency you are relying on the fixed fees are different. Log in to your PayPal account. 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. 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. How to sign up for a PayPal business account in Hong Kong You can open your PayPal business account online. Click Profile at the top right corner of the page. I am completely new to PayPal. This ultimate guide covers all you need to know about Faster Payment System (FPS) in Hong Kong. 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. Signing up is pretty straight forward like any other Paypal in the world. 2. If you withdraw less than HKD1,000, it is all right, too. To receive money on PayPal, youll first need an active PayPal account. Find new business leads with EasyBusiness, Buy your company list online with Easylist, Promote your business online with Booster, Agricultural and forestry machinery and equipment, Food, drink, tobacco and catering industry machinery and equipment, Rubber and plastic industry plant and equipment, Civil engineering and building machinery and equipment, Heating, ventilation, air conditioning (HVAC) and refrigeration equipment, Metal constructions for the building industry, Timber, wooden products, machinery and equipment for the woodworking industry, International organisations, administrations and associations, Electronic equipment. But stay positive and make steps forward each day! Shop Now Pay with your preferred card Link all your cards and choose which one to use at checkout. Cancelled the subscription from within paypal but i will definitely be following up with a formal complaint. What this means is that PayPal takes the mid-market exchange rate, and adds a margin of 4% to it, to create the transaction exchange rate used for PayPal payments. Wan Chai Hong Kong. In the tables above, youll notice that any PayPal payment which involves currency conversion comes with an extra fee. How is your experience using Paypal in the Hong Kong business market? How do I enable PayPal Zettle customer lists? This service is produced by Kompass. The PayPal REST APIs support these countries: Is it free or there is a fee any idea? I hope everyone has a wonderful weekend! But one thing you can take care of is that when you submit a personal/commercial transfer that also includes currency exchange, a markup of 4 percent would be paid from you for the retail exchange rate. Topup from paypal account should be no problem. * This number, only available 3 minutes, is not your correspondants number but the number of a service putting you through to that person. Crazy. To collect payments through email, social media, and instant messages, you can use a PayPal link. Today well talk about using Paypal in Hong Kong. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. QUESTION: Were thinking of transferring/selling our HK company to a US company. Im in a bit of a pickle with my PayPal HK account, and I wonder if youd have a solution for me: My company is incorporated in HK (Limited) with a registered business address in HK I dont like or conduct business in HK, Im in Vietnam I havent been able to successfully open an bank account in HK and so far have used my PayPal balance without having it linked to any bank account. Hi Mike, this was really helpfull for me to register my paypal account and adding my bank account but, i have a question how much does it cost to top up money from hsbc to paypal ? If Paypal insists on banking HKD only, why not simply m=have a merchant account that feeds into my HK account in the currency in which it is received? TNG Wallet Hong Kong: Your Ultimate Guide, Faster Payment System (FPS) Hong Kong: Your Complete Guide, Alipay Hong Kong: Everything you should know, WeChat vs Alipay HK: Which one is better for your needs? 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. Financial regulations around the globe are getting harder not easier. Connect with others in the GFAVIP member community with a wide range of different events we have to offer. 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. And if you really love this article! You can make a payment through PayPal online or using the PayPal app. Heres another message from one (can I say?) how can I get around this. Dear Michael, thanks for the prompt reply! If you haven't filed a dispute case yet, you can find the instructions to open an Item Not Received dispute on our Help Center here: How do I open a dispute with a seller? Keeping your personal and financial information safe is vital to us and we wont share it with anyone else. Relationship Start Node Node I D. 549300SKO1BSTONRKQ46 . Its worth noting that there may be fees to pay - either by the sender or the recipient - for PayPal money transfers. If you send someone Paypal money and they transfer via a bank account or cash they risk having you recalling the money. Any thoughts Id love to hear them!From Dan. Paypal Hong Kong Limited is directly consolidated by Paypal Holdings, Inc. Generally, with whatever currency your account holds, theres not a fee charged for sending money from your PayPal account. As we know, getting a bank account in Hong Kong has been troublesome. Introducing Neat - Online HK Business Banking & Connect Your Paypal/Stripe. Click Update beside Address. Please read our Community Rules and Guidelines, Pay, shop, and do even more on the PayPal appGet the App. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. Hi Enoch, The only way I know is to send as a friend payment to someone else who has a USD denominated account. Shopping online has never been this easy. This is because they do not want to make it too difficult for you to get started selling on Paypal in your early days. Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. Withdrawing money to local bank HKD account is generally free, unless you transfer less than HK . But I have talked to Paypal about this many times they dont seem to want to budge. I have given them everything except one document: a proof of business address in HK in the form of a utility bill. Users in Hong Kong are advised to read the terms and conditions carefully.Paypal Compliance. You will need to visit the PayPal Hong Kong website and follow the measures outlined to get in contact with PayPal. Learn more and manage your cookies, Fix transaction and account related issues, Join the discussion with PayPal customers, Get help with using any of our PayPal products, Find out how PayPal works for your business. If you find out otherwise please let me know. Please help us finish this process by completing the following steps. A question I received from a reader was they are moving to USA and doing business there, but after many years with a Hong Kong Paypal with subscriptions, they are asking me if you can transfer the Paypal HK to a US based account. So theyre picking and choosing at the moment, sometimes they charge a fee, sometimes not, but if there is a fee, the screen will say so. - Meghan. This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. The first option I guess is that I can accept paypal payments made from B2B clients which have their own paypal accounts. That constitutes proof of address and will work for almost every case. It is money basically inside Paypal only, or to be transferred to other Paypal users. PayPal Pay in 4 is provided to Australian residents and is subject to eligibility criteria and credit application. We have a Remittance Partner Recommendation. Jul-08-2020 04:37 AM. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. If you receive an in person payment using a QR code, in HKD, youll pay an extra HK$0.80. Find the address you want to update and click Edit. By continuing to use our services beginning May 25, 2018, you acknowledge and agree to our updated Privacy Policy and Cookies Policy. color: #ffaf00; We are getting more and more emails from readers who think we are affiliated with Paypal and asking us for customer support. Hi, I started an eCommerce company in Hong Kong and am sorting out the bank stuff now. From Asia corporate services to internet marketing and training, we have you covered. Posted on. The payments will though, be a slight bit higher for U.S. accounts. Businesses need to receive money from customers, as almost everyone around the globe has an account with them. @Fred20051 and @Beccadsmokes, welcome to the Community! So hope you feel I am qualified to share with you today the experiences as a seller using Paypal from a Hong Kong company. How do I send payments from the PayPal app? This can mean your payment is more expensive than you expect - or your recipient gets less than you want them to in the end. By browsing this website, you consent to the use of cookies. I am temping for a company based in UK for an ad-hoc job. App similar to findmyiphone but for Androids. 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. Log into your PayPal account Go to Send and Request, and hit Request Enter the email address of the person you're asking for a payment Enter the amount you're requesting Add a note Click Request a Payment to confirm Terms and conditions apply.Find Out More. Yet, the Hong Kong business owner was in mind when I wrote this. Talk about using PayPal from a Hong Kong company Kong has been troublesome the... Made from B2B clients which have their own PayPal accounts is because they do not want budge! 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