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. If you open a Paypal HK account, youll need a HK bank account to link it to! Check if you had a subscription set up.Click on the profile tab (icon next to log out) > Click on payments third option along on the thick blue band top of page > "manage pre-approved payments. UPS refused and stated address is fraudulent and would cost over $100 to send more than what I paid for merchandise. Yet, the Hong Kong business owner was in mind when I wrote this. The name of the sender is supposed to match the name of the Paypal account holder. Lets all work together to solve these problems. What about migrating a Paypal account to HK? 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. kq bong da nam,cch kim tin v paypal,xs kien thiet mien trung. As well as paying a transaction charge, there is a fixed fee charged for receiving most commercial payments. I believe the same holds true for a bank account, you need to close one account and reapply / reopen the bank account in the new country. To transfer payments to all of your consumers or clients, you do not even need a PayPal balance. This is in the form of a markup added to the exchange rate. Everyone uses it, unless you are a traditional business they are pretty stubborn to accept Paypal in retail shops in HK. Check it out! 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. 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. Sources last checked on 14-September 2020. The process for receiving money using a PayPal money transfer, or through PayPal commercial payments online or in person is straightforward. SVF0008. How do I send payments from the PayPal app? 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. For Hong Kong-based customers, you will eventually need to pay an amount of 3.9% + $2.35 HKD per transaction. Paypal Hong Kong Limited is directly consolidated by Paypal Holdings, Inc. If you need to send or receive an international payment online you could be better off using a specialist service like Wise. Thanks in advance. Likewise, the way PayPal charges you is dependent on two variables whether your account is based locally or abroad. 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. Its hardly the mid-market rate that they give. To receive money on PayPal, youll first need an active PayPal account. I have a HK PayPal account, but I cant use a mobile number from a different country on the account. Click Update beside Address. Please read our Community Rules and Guidelines, Pay, shop, and do even more on the PayPal appGet the App. 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 . Hi, As I reside in Hong Kong and have currently been doing some business on Ebay, I usually receive my payments through USD. Yet, you can remain unverified with a bank account. This guide covers the pros and cons of both WeChat and AliPay, with a focus on our local versions WeChat Hong Kong and AliPay Hong Kong. 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. 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? There will only be a nominal fee of HKD3.5 to pay for your bill. <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 . irate user about withdrawing USD. like 3% ish total? Our review is complete and we have returned your account to regular standing. Our answer? This guide walks through the costs of making an online money transfer with PayPal, including the upfront charge and currency conversion fee. But as you grow they will need to background check everything. POA (Proof of Address) is not required for getting this level of verification in Paypal. It is money basically inside Paypal only, or to be transferred to other Paypal users. So, I hope this article on Paypal can help you! @Fred20051 and @Beccadsmokes, welcome to the Community! anyone overcome this crazy conversion rates? Prior results do not guarantee a similar outcome. THIS HAS HAPPENED TO ME TOO AND PAYPAL SAID THAT IT WAS A LEGITIMATE CHARGE! 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. Its worth noting that there are fees to pay when sending money to friends and family abroad with PayPal. Learn more here. The reason you get this is it is a true merchant account. Financial regulations around the globe are getting harder not easier. Latest audit report(s). The currency conversion rate is extremely bad at ~2.5%. 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. 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. To give an example, if you receive an online commercial payment in HKD, there is an extra HK$2.35 to pay. To collect payments through email, social media, and instant messages, you can use a PayPal link. Teri12345. GCash offers a range of services including mobile wallets, mobile payments and branchless banking. Ok, but seller want it sent to Hong Kong. Want to save with international transfers? 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. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? But, like all financial institutions, they need to ensure that they are following KYC (Know Your Customer) procedures. 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 ? Now well take a look at the numbers of using a PayPal business account, including the account receivable fees and the transfer fees for PayPal money. 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? Paypal Pro is a common account option in the US and UK and other countries, but not as common in Hong Kong. Tags: banking, guide, hong kong, merchant account. If you send money overseas with PayPal, youll usually need currency conversion so your payment is made available to your recipient in their local currency. The name on the document you provided doesnt match the name on your PayPal account. But, youre not alone. It that case I will have to use Paypal As Your Main Bank For Hong Kong scheme described by you in the article. This is why they will have to trust you if you ask them to receive your Paypal in exchange for cash or bank transfer. Shop Now Pay with your preferred card Link all your cards and choose which one to use at checkout. .css-geb0bj-screenReader{position:absolute;clip:rect(1px, 1px, 1px, 1px);padding:0;border:0;width:1px;height:1px;overflow:hidden;}loading, You can message us anytime. 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. Hello Mark! The merchant account). I actually use Stripe to accept USD and pay to my USD bank account with HSBC in Hong Kong. utility bill, bank statement) within 3 months. Click here . But stay positive and make steps forward each day! Please read our Community Rules and Guidelines, Pay, shop, and do even more on the PayPal appGet the App. 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. Im waiting to hear back from PayPal now because I need the money since Im not getting the product. For general country-specific offerings and limitations, see PayPal Offerings Worldwide and visit your country-specific site. Theres just a transparent charge per transaction, and you can see upfront exactly how much the recipient will get. How to stop this scam: HONG KONG SOOUYA TECHNOLOGY LIMITED. Visa, Mastercard, American Express and Discover cards are all accepted by PayPal - but its worth knowing that funding your payment in part or full with a card can mean higher fees. If you have a non-HK bank you can still use Paypal, but you cannot link it to a bank there. The way around this is if you put your prices for your products or services in Hong Kong dollars instead of US dollars. 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. Question from a reader (via email) that is worth sharing with everyone to help those in the future: Things should run smoothly once those steps are setup. [removed] Seems sketchyhttps://www.chamspy.com/ [removed] [removed]. 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. 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. Address: Room 1506-1507, 15/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. 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. The currency conversion rate is extremely bad at ~2.5%. The past year and change has been a lot of challenges for all of us. Hi Audrey, some use Twilio phone numbers or other online number solutions. Wed love to hear from you but please dont reply to this email. Jul-08-2020 04:37 AM. UPS refused and stated address is fraudulent and would cost over $100 to send more than what I paid for merchandise. Seller advertised that they are located in Canada on Facebook. This is because they do not want to make it too difficult for you to get started selling on Paypal in your early days. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. It is linked to Hang Seng Bank Hong Kong..all in HKD. 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. I am temping for a company based in UK for an ad-hoc job. Is this your business? 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? I am completely new to PayPal. 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. Now its your turn to share what is your rating for Paypal Hong Kong. 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. I will look into Twilio though as it wasnt the one I was looking at. Theres a charge for withdrawing money to your linked bank accounts from your PayPal balance. 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. It is called Paypal Hosted Solution, HHS. Of course, based on whatever currency you are relying on the fixed fees are different. 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. The emails will go something like this: Here at PayPal, were constantly taking steps to ensure that your experience is in line with regulatory requirements. This guide walks through how to use GCash from Hong Kong. Click on the link and follow the onscreen instructions to make your payment using your PayPal balance, linked bank account, or card. If you find out otherwise please let me know. How do I enable PayPal Zettle customer lists? As always, if you need help or have any questions, email us at compliance-apac-KYC@paypal.com. 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. The fees vary for each payment type, so its good to know the full range of costs involved in advance. PayPal - What payment methods can I use with PayPal? If you cant find the answers to the questions you have, youll be guided to send a secure message online via the PayPal website. I personally dont withdraw much of the funds from Paypal to avoid the currency conversion. so my account does not interrupted ??????? It took about 3 or 4 emails back and forth. I believe this is only for payments coming from YOU not for payments from 3rd parties. Crazy. Lets help each other out and share tips and strategies in the comments below! This guide is useful for a Paypal international account anywhere in the world, not just in HK. I recommend contacting Customer Support to see if any other options are available for your case. PayPal - How do I send payments from the PayPal app? How is your experience using Paypal in the Hong Kong business market? USPS also informed me that there are certain tracking numbers they use that are automatically flagged as suspicious or fraudulent. Just go over to the website for PayPal Hong Kong and choose to sign up. If it's this Android app, that points directly to some dark interface design they're . Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. HONG KONG, September 29, 2020 - eCommerce businesses in Hong Kong have been hit hard by a pandemic-induced decline in sales, supply chain and logistics issues, but are now changing gears to recapture growth, according to a new study by PayPal. 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