You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. very cool tip thanks for that Cherry! 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 . I just want to transfer the location of my accoun. 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. 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. 4. No return address on the returns policy. 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? Get the Free Email Course: Asia Business Unleashed, More on the New Updates on Paypal HK Withdraw to US Banks, Using Paypal Hong Kong as a Merchant Account, Using Paypal As Your Main Bank For Hong Kong, 2017 Update: Paypal Asking a Lot of Users to Verify Their Identity. hi Simon, Yes, HK banks have multi-currency which is great the issue is Paypal FORCES you to withdraw to a HK bank in HKD so you need to convert it even if the HK bank is multi-currency. PayPal is a nightmare, my best advise is to stay away from it. Theres just a transparent charge per transaction, and you can see upfront exactly how much the recipient will get. 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. This service is produced by Kompass. Teri12345. Businesses need to receive money from customers, as almost everyone around the globe has an account with them. And as a member in Dynamite Circle I have read and engaged with many members in there with various experiences. Consumer Advisory - PayPal Hong Kong SAR, China Limited is a licensed issuer of a stored value facility regulated by the Hong Kong SAR, China Monetary Authority under Licence NumBer: SVF0008. Heres what you need to know. Aurelia Pay is a leading cross border payment service in South East Asia, Hong Kong and Greater China. The payments will though, be a slight bit higher for U.S. accounts. And, worst case transfer the money to others in exchange for cash. 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. Im not a resident there though. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. I am currently having the same problem. Good work, really good work driving your customer away. 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. PayPal is the world's leading online payment processor. Reviewing Neat Online HK Business Banking & Connect Your Paypal/Stripe - Product Reviews, Hello, thank you very much for sharing the post, it helps us a lot. If you have a problem with your PayPal account, the first thing to do is head over to the PayPal Contact Us page. Just go over to the website for PayPal Hong Kong and choose to sign up. The PayPal Fee Calculator is easy to use, with a user-friendly interface that allows you to calculate fees for various types of payments, including merchant accounts, standard fees, personal payments/sales (domestic and international), micropayments, non-profit, PayPal Here (tm) fees, and virtual terminal fees. 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? These are the basic steps to setup in Paypal HK: Congratulations, you now have a verified Paypal Account! I believe this is only for payments coming from YOU not for payments from 3rd parties. Theres also a markup on the exchange rate used. How can I get that knowing that I dont have a real office in HK ? Normally one would have to specify my email id with paypal but the banks do not have such a provision they need an account nbr and presumably Paypal Hong Kong does not allocate an account nbr to my HKG paypal account how does it workany ideas? 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.". Users in Hong Kong SAR, China are advised to read the terms and conditions carefully. Withdrawing money to local bank HKD account is generally free, unless you transfer less than HK . However as you mentioned, if I were to withdraw my credit from paypal to my HSBC account with foreign currency active, is there anyway i can directly just withdraw the USD instead of converting into HKD? Please contact us for details for now. Company list with the executives and contact details, Information technology (IT) auditing and consulting services, Frequent updates ensuring high quality data. I got the automated email titled "You sent an automatic payment to <removed>. Why this number ? (Hardest time/ task ever just to get my money back). Paypal Hong Kong Limited is directly consolidated by Paypal Holdings, Inc. 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. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. Can our Hong Kong Company register a bank account in the United States, is this a feasible option to get around this problem? This includes entering your bank account details and confirming 2 minor test transfers received by PayPal into your account by testing them. Wed love to hear from you but please dont reply to this email. Discover it now, Mid-market exchange rate + 4% currency conversion fee, Enter the email address of the person you want to send money to, Follow online prompts to enter the amount and currency youre sending in, Add a note to the recipient, check and hit, Enter the email address of your recipient, Confirm the amount and currency youre sending in, Check the details and complete the payment, HK$38.99 if payment is funded using your PayPal balance or linked bank account, HK$38.99 + 3.4% + fixed fee based on currency if you pay using a card. If you are able to supply any documentation from USPS that shows the item wasn't delivered to you, that may help expedite the process. And in Hong Kong its not much different. 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 Life time support - waqarshakeel .stars, .rr_star { Today well talk about using Paypal in Hong Kong. Another Option To Send Transfers Within Asia. Almost every business that has any online presence has PayPal. 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. Its true, just like the credit card issue it is a waste of money. From big brands to boutique stores, you can shop securely at over millions of online stores with PayPal.Shop Now, Link all your cards and choose which one to use at checkout. So, I hope this article on Paypal can help you! Choose the issue that most closely matches your reason for contacting us. 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. This service is produced by Kompass. All the lines are busy at the moment, please try again in a moment. Check out Wise as a smart, simple way to cut the costs of sending and receiving money from overseas. They can only receive SMSs from an actual mobile. . The last thing I need, however, is to now continue doing free withdrawals and then in 12 months have paypal telling me theyre going to collect several thousand dollars in withdrawal fees for my withdrawals over the last 12 months. 5. You can also keep earning rewards from your favourite cards^.Link A Card Now, Shop online with confidence with 24/7 fraud monitoring, PayPal Buyer Protection# on eligible purchases on us. Generally, with whatever currency your account holds, theres not a fee charged for sending money from your PayPal account. Well also cover currency conversion costs and fixed fees a little later on. How can i contact you? Does anyone have any good solutions? 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. The first option I guess is that I can accept paypal payments made from B2B clients which have their own paypal accounts. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Can you transfer your Paypal Hong Kong Account to a Paypal USA account? Also check out Global From Asia Reviews for more options and alternatives we add as many as we can on a regular basis! Well look at this in more detail later. Just read that you can open a business multi-currency bank account at HSBC HK. This mailbox is not monitored and you will not receive a response. Dear Michael, thanks for the prompt reply! For general country-specific offerings and limitations, see PayPal Offerings Worldwide and visit your country-specific site. Subscribe to our emails Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. Find out how to register, send and and receive money via FPS. 2888240). For instance, if you withdraw USD from your Hong Kong PayPal account to your U.S. bank account, you would have to pay an additional withdrawal charge of 2.5 percent for that. Is multi-currency banking not an option? Wise payments are convenient, secure, and arrive quickly - with no exchange rate markup, and no hidden fees. I started doing ecommerce a few month back with an US account, however things didn't work out and my paypal and funds got lock for HALF a year. 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? They supposedly sell virus software (which I have never had.) Introducing Neat - Online HK Business Banking & Connect Your Paypal/Stripe, The Story of Neat Hk Developing in Hong Kong to Help the Banking Market with David Rosa and Igor Wos, Neat HK: A Solution for the Hong Kong Banking Nightmare? Please read our Community Rules and Guidelines, Pay, shop, and do even more on the PayPal appGet the App. Im still interested in hearing about any solutions people are using. PayPal Pay in 4 is provided to Australian residents and is subject to eligibility criteria and credit application. The data we collect are only those necessary for the proper use of our service. Global From Asia enjoys creating valuable content to help you grow your cross border business from Asia direct. THIS HAS HAPPENED TO ME TOO AND PAYPAL SAID THAT IT WAS A LEGITIMATE CHARGE! Purchase a Great pictures of items at bargain prices that turn out to be tat.5. I use Transferwise to get US dollars out of PayPal and exchanged to Candian dollars. For the kind of transactions you make, it is necessary to use the right PayPal account otherwise you risk locking or closing your account. But stay positive and make steps forward each day! Pingback: Using HK for your Affiliate Marketing Business. color: #ffaf00; By continuing to use our services beginning May 25, 2018, you acknowledge and agree to our updated Privacy Policy and Cookies Policy. This guide walks through the costs of making an online money transfer with PayPal, including the upfront charge and currency conversion fee. I personally dont withdraw much of the funds from Paypal to avoid the currency conversion. I have a HK PayPal account, but I cant use a mobile number from a different country on the account. Please read our Community Rules and Guidelines, Pay, shop, and do even more on the PayPal appGet the App. I have a HANG SENG BANK account. My question is, i m planning to open with paypal HK, will they lock my account too if they "think" it is suspicious, and the charging rate is also a lot higher in HK compare to US, it is almost 4%-5%. AVOID THEM AT ALL COSTS! With our independent end to end payment network, Aurelia Pay delivers payment within the same business day with competitive, fair and transparent FX rate. 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. Dec-07-2022 07:31 PM. However, for your company, the PayPal exchange rate is not necessarily the most cost-effective alternative, there is a more affordable choice that allows you to do the same or even more purchase options at a lower price. Click here . Ill probably send to another user to get around the 2.5% fee. * This number, only available 3 minutes, is not your correspondants number but the number of a service putting you through to that person. So, I contacted them saying that I wasnt quoted a fee for my withdrawal, and that I dont appear to have been charged, and asking would there be a charge later on. Choose New. How easy it is to withdraw funds transferred into PayPal? That constitutes proof of address and will work for almost every case. streetAddress: Suite 1506-7, Central Plaza 18 Harbour Road http://www.paypal.com Members Steven Chan Senior Director Michelle Chui Head of Government Relations, Hong Kong, Korea & Taiwan F T Tim Fu Country Manager, Hong Kong, Korea and Taiwan Zita Fung Senior Manager L C Claudia Lam L B Belinda Lee Team Lead (HK, S. Korea, Taiwan) L G Gordon Liu In as much as we would want to say, yes we found a solution, well, we didnt. It is availble on transactions between AU$30, and $1,500 and can impact a . Its hardly the mid-market rate that they give. If you have any tips or tricks youd like to share, or more clarifications and questions I would love you to put a comment below. A payment was posted from my individual PayPal account to <removed>, LIMITED on July 6. Of course Paypal wants you to grow and succeed, that means they are making more money too! Include audit reports of your parent company, associated companies and subsidiaries. I will move HK this month anyway. Here youll find a range of resources including FAQs and community solutions. Posted on. Prefer us to call you? PayPal Inc - Company Profile and News - Bloomberg Markets Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately. Enter your address information and click Save. Is it possible to do that with a Hong Kong PayPal account? Users in Hong Kong are advised to read the terms and conditions carefully.Paypal Compliance. Subject: Your identity confirmation is now complete. Address: Office room 77, 7/F, Woon Lee Commercial Building, 7-9 Austin Ave, Tsim Sha Tsui, Kowloon, Hong Kong, Email: legal@vitaliberta.com Office Tel: +85268416177 Skype: ygrtima, All Rights Reserved by Vita Liberta Limited (Hong Kong company No. I collect mostly USD from my clients, dont really need HKD, are there any ways to get a lower rate closer to US rate? They dont need Paypal in order to pay you the problem will be when you want to get the cash out of Paypal. 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. PayPal isnt the only way to make and receive digital payments. Is this your business? 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