You probably dont want to pay Paypal approximately 2.5% to convert from USD to HKD, especially if your Hong Kong bank will then convert it back to USD. 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? Im not a resident there though. Its worth noting that there are fees to pay when sending money to friends and family abroad with PayPal. I am completely new to PayPal. 18 Harbour Road
Is this your business? How do I send payments from the PayPal app? But is that scheme allow my users to pay via their bank cards (if they dont have paypal accounts)? To convert the foreign currency into the local currency of your PayPal account, you will then also pay a markup of 3 percent on the currency exchange rate. A payment was posted from my individual PayPal account to <removed>, LIMITED on July 6. They can only receive SMSs from an actual mobile. 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. Pingback: Neat HK: A Solution for the Hong Kong Banking Nightmare? Hi! For assistance, log in to your PayPal account and click the Help link in the top right corner of any PayPal page. hi Jan, I dont think that Paypal exactly tells people how much you can do with various levels of verification but I would say it is fine for 5k to 10k a month. Do you see any way around this fee? Prior results do not guarantee a similar outcome. 2. 5. Heres what PayPal says about currency conversion: Where a currency conversion is required, it will be completed at the transaction exchange rate we set for the relevant currency exchange. If you find out otherwise please let me know. Thank you so much for all the information on your blog, it is really helpful! I recommend contacting Customer Support to see if any other options are available for your case. Find out how to register, send and and receive money via FPS. Contact Us Create a free Business Account If the information youre shown doesn't answer your question, scroll down. 6. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. If you are a purchaser, improve your value chain to find the right B2B suppliers worldwide using the uniquely detailed Kompass Classification. Just log in to PayPal, go to yourMessage Centerand choose New Message., To contact us on Facebook, go to facebook.com/PayPalUSA, To contact us on Twitter, go to @AskPayPal, Well use cookies to improve and customize your experience if you continue to browse. just wanted to say fantastic resource Mike! There is a processing fee, which is a percentage of the sales amount, and a minor currency-based fixed fee. Contributor. so my account does not interrupted ??????? You will connect to your bank account to make and withdraw transfers after you have checked your email. By the way thanks for the Blog it makes me feel not alone. Users in Hong Kong are advised to read the terms and conditions carefully.Paypal Compliance. Unless you like having your money arbitrarily frozen periodically. 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. Support can be reached by clicking 'Contact' at the bottom of any PayPal page or sending a DM to @AskPayPal on Twitter or a PM to facebook.com/PayPal. It is in another name! Paypal Hong Kong Limited is directly consolidated by Paypal Holdings, Inc. I have a HANG SENG BANK account. They should be trusted counter parties, well, actually they are taking the big risk. But after several attempts of negotiation, we surrender. Ill probably send to another user to get around the 2.5% fee. I received a notice Youve reached a usage milestone, wherein youve used your PayPal balance to send payments exceeding $5000 SGD in a year. 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. Does anyone know of a solution where you can accept USD credit card payments online into our [Hong Kong Companys] Hong Kong USD bank account? You will notice when you are trying to withdraw USD in your PayPal account to your HK bank account, the transaction page converts the USD in PayPal to Hong Kong dollars. any suggestions would be appreciated. Subscribe to our emails Say that your payment is based on USD, so that would be a USD 0.30 fee. Its worth noting that the currency conversion charge laid out above will also apply if you need to switch currencies as part of the withdrawal. 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. PayPal - What payment methods can I use with PayPal? Yet we all hear the horror stories about your account getting frozen or closed by Paypal. This service is produced by Kompass. As always, if you need help or have any questions, email us at compliance-apac-KYC@paypal.com. We're glad you have joined us. just greedy number. I actually use Stripe to accept USD and pay to my USD bank account with HSBC in Hong Kong. This ultimate guide runs through all you need to get started paying in and out of your Alipay HK wallet. Click here . Find out more about PayPal for Business by calling our sales team, +852-3550-8584 Monday-Fridays from 9:00AM to 6:00PM*. 4. utility bill, bank statement) within 3 months. Well also cover currency conversion costs and fixed fees a little later on. Dec-07-2022 07:31 PM. Click Update beside Address. Textiles, Clothing, Leather, Watchmaking, Jewellery. There are some expenses you need to know about whether you have an online business and get paid by PayPal. Seller advertised that they are located in Canada on Facebook. Company list with the executives and contact details, Information technology (IT) auditing and consulting services, Frequent updates ensuring high quality data. Fraudulent- Hong Kong. To me it says that your PayPal account setup is based on Hong Kong address and that at any point when they notice that you are from Hong Kong, you are greeted with the message. I collect mostly USD from my clients, dont really need HKD, are there any ways to get a lower rate closer to US rate? 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. Id respect it if it was a flat fee of say $20-30 fee like a wire fee, but 2.5% on 10,000 USD? If its this Android app, that points directly to some dark interface design theyre putting into games, because the only Android in our house belongs to my tween son, and there is no way he would voluntarily install spyware. You'll need to enter some basic details, including: Your email address Your business information Your personal information You'll then receive a confirmation email. Its true, just like the credit card issue it is a waste of money. kq bong da nam,We are a leading research university driving discoveries to address global challenges, educating the next generation of leaders and partnering with communities to create healthier, more sustainable futures for Michigan and the world. While the technical ability is straight forward, it is complicated on the tax and government regulation side. The form requires me to have me to identify my address as well an Id card with signature. Great pictures of items at bargain prices that turn out to be tat.5. They may likely reject the payment. It is not intended to amount to advice on which you should rely. 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. Also through my podcast and this blog, I have connected with even more people having various experiences themselves using Paypal. Ive used Paypal since 2004 as a seller, with a USA account for my first e-commerce business. To give an example, if you receive an online commercial payment in HKD, there is an extra HK$2.35 to pay. It is not intended to amount to advice on which you should rely. That constitutes proof of address and will work for almost every case. Request a call back from our sales experts today. From setup, to banking, credit cards, merchant accounts, cash flow, upkeep, operations, and more! Fraudulent Payment to AJCLOUD HONGKONG CO, LIMITED. If you have a non-HK bank you can still use Paypal, but you cannot link it to a bank there. If you dont see what youre looking for, you can then send a secure message online to the PayPal team using the message template on the PayPal website. Aurelia Pay is a leading cross border payment service in South East Asia, Hong Kong and Greater China. 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. With our independent end to end payment network, Aurelia Pay delivers payment within the same business day with competitive, fair and transparent FX rate. Fake reviews.6. Heres how to edit your address: 1. Whether you are local or global, we are here to support you. 2.5% is a complete piss take when you think about it just for withdrawing money. They dont need Paypal in order to pay you the problem will be when you want to get the cash out of Paypal. 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. This service is produced by Kompass. Lets help each other out and share tips and strategies in the comments below! I have a Hong Kong company but currently living in Ukraine. This Paypal guide will be regularly updated as I get more feedback and learn more from my own experience as well as clients. Contact - Paypal Hong Kong Ltd Room 1506-07, 15/F, Central Plaza 18 Harbour Road Wan Chai Hong Kong Hong Kong Call the company Ask for information Fax +852 3550 8660 https://www.paypal.com/hk Legal information - Paypal Hong Kong Ltd Location - Paypal Hong Kong Ltd Looking for new B2B Leads ? Tags: banking, guide, hong kong, merchant account. The reason you get this is it is a true merchant account. Introducing Neat - Online HK Business Banking & Connect Your Paypal/Stripe. 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. 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). Hey Roger, They always wanted residential address proof in HK but lately have been more strict about it. Heres what you need to know. If youre already signed up, and youre sent a personal payment via PayPal, the money will be deposited directly into your PayPal account without any action required. From my experience the quick answer is No. I need to move my account to HK now and I have people waiting to send me money so how do I set up my account as registered in HK not in Cambodia as it says Cambodia in the settings.? If the information you're shown doesn't answer your question, scroll down. Open, click and follow the links in this message to get started. It is a hot topic that people want to connect their Paypal Hong Kong to non-Hong Kong banks. Thats annoying as Id be exchanging twice which seems like such a waste of money. Today well talk about using Paypal in Hong Kong. 04/11/2016. This ultimate guide runs through all you need to get started paying in and out of your Alipay HK wallet. Any specific info youll need to enter include: You will then get an email with confirmation. Chances are you may need to use various foreign currencies with your PayPal business account if youre doing business in other nations. What information do I need to link my HANG SENG BANK account to PAYPAL? The REST APIs support many countries for PayPal account payments if you have a business account. Hong Kong Needs Stripe Merchant Account Services! 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. The withdrawal of HKD from your local PayPal account back to your HK bank account is only free of charge if you withdraw more than HKD1,000. Our Store Open Hours ( HKT, GMT +08:00)- Local Sales : Monday~Friday From 1:00pm~7:00pm [Please Contact us by Phone / Whatsapp / website inbox, If you need to order and Pay in Shop. Check out AureliaPay now! Chinese Web Sites or on Social Media ads easy to spot (once you know the below signs) so buyer beware.1. Crazy. But we all know it is a necessary service. 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 Hello @Fred20051, @kernowlass, and @Beccadsmokes,First, thank you for that great information, @kernowlass. We appreciate all of your hard work in the Community! Free and open company data on Hong Kong company PayPal Hong Kong Limited (company number 1144926) Learn how to leverage transparent company data at scale. Only thing I can think of is to send the USD to a non-HK paypal account and withdraw it from there. how can I get around this. Copy of your Companys Certificate of Incorporation (CI), Proof of address of your Company (e.g. However, should you choose to use any of the other functionality available in the PayPal business account, there are some payments attached. But, like all financial institutions, they need to ensure that they are following KYC (Know Your Customer) procedures. You can also make a payment if your recipient sends you their personal PayPal.me link. Youll pay an upfront fee, as well as a currency conversion cost. you can buy my complete Hong Kong Supercharged Guide Book. We found no other way to bargain with Paypal. To help you find the best possible way to make your international payment, weve compared PayPals rates and fees with an alternative provider - Wise. I will look into Twilio though as it wasnt the one I was looking at. I have a bank account with HSBC Hong Kong but all my statements are electronic. But stay positive and make steps forward each day! Ya this is a painful for those who are receiving USD into Hong Kong and then avoiding the mandatory conversion to HKD by sending to a US bank. Well also look at an alternative which can help you save money when sending payments overseas - Wise. Lets all work together to solve these problems. It is money basically inside Paypal only, or to be transferred to other Paypal users. This mailbox is not monitored and you will not receive a response. 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 . Life time support, The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe), The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe), latest podcasts on Paypal and other merchant accounts on the site here, Using HK for your Affiliate Marketing Business, https://www.globalfromasia.com/cross-border-payments/. 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Are local or global, we are here to support you register, send and and receive money via.! The information youre shown does n't answer your question, scroll down a bank.. Posted from my individual Paypal account payments if you need to enter include: you then!