The payments will though, be a slight bit higher for U.S. accounts. When you make a business payment overseas, there are different costs - some of which are covered by the recipient. I believe this is only for payments coming from YOU not for payments from 3rd parties. For a phone number, try a Skype IN number for like 25 usd every 3 months and it can forward. Fraudulent- Hong Kong. I have filed a case with Paypal and they are reviewing it. And if you really love this article! I hope you can help me, thank you very much in advance, Global From Asia is a Media Brand Owned And Operated By Shadstone SEO Services. Find the address you want to update and click Edit. It is called Paypal Hosted Solution, HHS. Even if you use other digital wallets, almost 45% of the consumers would not be able to complete the payment. Please help us finish this process by completing the following steps. PayPal offers simple convenient services - but the costs of sending and receiving international payments can be high. Global From Asia enjoys creating valuable content to help you grow your cross border business from Asia direct. 2 people found this solution to be helpful. 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. Latest audit report(s). Around 200 million people have a PayPal account. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. It is jam packed with everything you need to know from setting up your Hong Kong limited company. This guide walks through all you need to know about receiving PayPal money transfers, and also highlights a smart alternative if youre getting paid from overseas - Wise. Before you send an international payment with PayPal, make sure you understand the costs involved. Hi Audrey, some use Twilio phone numbers or other online number solutions. 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. If you have a problem with your PayPal account, the first thing to do is head over to the PayPal Contact Us page. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? Click Update beside Address. 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. For the kind of transactions you make, it is necessary to use the right PayPal account otherwise you risk locking or closing your account. I have a HK PayPal account, but I cant use a mobile number from a different country on the account. 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. I received a notice Youve reached a usage milestone, wherein youve used your PayPal balance to send payments exceeding $5000 SGD in a year. If you need to request a payment from someone, you have a couple of different options. 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. I use Transferwise to get US dollars out of PayPal and exchanged to Candian dollars. Room 1506-07, 15/F, Central Plaza If the information you're shown doesn't answer your question, scroll down. All the lines are busy at the moment, please try again in a moment. Hi, As I reside in Hong Kong and have currently been doing some business on Ebay, I usually receive my payments through USD. And, worst case transfer the money to others in exchange for cash. Crazy. But, youre not alone. It's been one of the most popular online payment services for years, which is why it's such a popular target for phishing scams. RFU form (Application form they will attach). Enter your address information and click Save. PayPal will carry out currency exchange for you - but youll need to pay a 4% Currency Conversion Fee on top of any other charges levied. Just go over to the website for PayPal Hong Kong and choose to sign up. Any thoughts Id love to hear them!From Dan. But, like all financial institutions, they need to ensure that they are following KYC (Know Your Customer) procedures. keep us posted. Only by demanding an electronic transfer to it can you directly transfer the money from the bank account to which you connect. Do you see any way around this fee? Im not a resident there though. Just saw it in my account (see attached). Lets all work together to solve these problems. For applying Website Payments Pro Hosted Solution (HSS), you need to get in touch with a Paypal Hong Kong representative through the contact forms. 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 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. Headquarters Address. This Paypal guide will be regularly updated as I get more feedback and learn more from my own experience as well as clients. Why this number ? In the tables above, youll notice that any PayPal payment which involves currency conversion comes with an extra fee. Hello Mark! As we know, getting a bank account in Hong Kong has been troublesome. Only thing I can think of is to send the USD to a non-HK paypal account and withdraw it from there. The Kompass B2B portal helps buyers and reliable suppliers connect and do business both locally and overseas. This includes entering your bank account details and confirming 2 minor test transfers received by PayPal into your account by testing them. But PayPal isnt the only way to make and receive digital payments. It is availble on transactions between AU$30, and $1,500 and can impact a . Contributor. I personally dont withdraw much of the funds from Paypal to avoid the currency conversion. Thanks in advance. So like many commenters below, it is scary! But if the customers are worldwide, then you will be paid 4.4% + fixed rates. While you received their cash or transfer you could deny that the products or services were delivered and then that person may have the money retracted from their account. This is a small charge set according to currency. Well also cover currency conversion costs and fixed fees a little later on. Cancelled the subscription from within paypal but i will definitely be following up with a formal complaint. (as we were incorporated and pay for a secretary with startitup in hk).Its not like I pay electricity monthly for a virtual office All ideas and suggestions are welcome! 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. Ok, but seller want it sent to Hong Kong. * This phone number available for 3 min is not the recipients number but a number from a service which will put you through to that person. Strap on your seat belts, this is going to be fun! We have a Remittance Partner Recommendation. This is so you only need to convert the funds once. Will I be able to get a merchant account there even as a non resident? Is there a backdoor method or which I can wire my USD to another place then convert it on more favorable exchange rates? They supposedly sell virus software (which I have never had.) So, I hope this article on Paypal can help you! Use the funds for your operating expenses on hosting, services, and other items. 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. New to the community? @Fred20051 and @Beccadsmokes, welcome to the Community! Sorry you mentioned this in your article. 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. 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. 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? Tags: banking, guide, hong kong, merchant account. By continuing to use our services beginning May 25, 2018, you acknowledge and agree to our updated Privacy Policy and Cookies Policy. Im still interested in hearing about any solutions people are using. The fee is, as you say, crazy. For general country-specific offerings and limitations, see PayPal Offerings Worldwide and visit your country-specific site. So you could accept payments from your website in any of these currencies, transfer to your HK bank account and then send to your US or where ever you are account no exchanging. Is it free or there is a fee any idea? A letter stating it wasn't delivered to your address will work.) The League of . 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? Hi. Hi! How do I enable PayPal Zettle customer lists? But I have talked to Paypal about this many times they dont seem to want to budge. Fraudulent Payment to AJCLOUD HONGKONG CO, LIMITED. Again, if you withdraw any currency other than USD, assume GBP, then the possibilities are there will be a small extra processing charge on your transaction for currency exchange. 1. Sources last checked on 14-September 2020. 5. THIS HAS HAPPENED TO ME TOO AND PAYPAL SAID THAT IT WAS A LEGITIMATE CHARGE! Pingback: A Solution for the Hong Kong Banking Nightmare? RD Wallet Technologies Limited. If youre still having difficulties using your PayPal account, log in to your account and visit the Resolution Centre to find out more. Learn more about PayPal business fees and exchange rates, here. But all funds coming in will be converted to HKD automatically. The way around this is if you put your prices for your products or services in Hong Kong dollars instead of US dollars. 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? Another solution is try to not withdraw any. Yet, the Hong Kong business owner was in mind when I wrote this. Fake reviews.6. Prior results do not guarantee a similar outcome. Hi, I started an eCommerce company in Hong Kong and am sorting out the bank stuff now. To send and receive safe messages, you can log into your PayPal account, or find answers to popular questions in the FAQ section. just greedy number. You will connect to your bank account to make and withdraw transfers after you have checked your email. Thank you so much Michael, that helps. This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. Can you transfer your Paypal Hong Kong Account to a Paypal USA account? Taking money out is a rather tricky part. There is a processing fee, which is a percentage of the sales amount, and a minor currency-based fixed fee. Shopping online has never been this easy. 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 ? Hey Roger, They always wanted residential address proof in HK but lately have been more strict about it. How can i contact you? * This number, only available 3 minutes, is not your correspondants number but the number of a service putting you through to that person. Check it out! You can add USD bank accounts to HK Paypal, and withdraw at Xero fee. like 3% ish total? Representative-Hong Kong/ Worldwide Areas. Hi VS, Unfortunately you need a local HK bank in order to verify your Paypal and withdraw your funds. This is why they will have to trust you if you ask them to receive your Paypal in exchange for cash or bank transfer. The currency conversion rate is extremely bad at ~2.5%. However, there may be charges which the sender has to cover. The form requires me to have me to identify my address as well an Id card with signature. Click Profile at the top right corner of the page. 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 ? 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? By browsing this website, you consent to the use of cookies. 2888240). Want to save with international transfers? Cambodia doesn't operate pay pal.
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