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. 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. 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. They can only receive SMSs from an actual mobile. Fraudulent- Hong Kong. Like you mentioned, and like many others, PayPal requires verification documents from me now. Using PayPal, send invoices and make clients pay, Accept online payments from your website via PayPal. 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. 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. Wed love to hear from you but please dont reply to this email. 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. For the kind of transactions you make, it is necessary to use the right PayPal account otherwise you risk locking or closing your account. What about migrating a Paypal account to HK? Today well talk about using Paypal in Hong Kong. What payment methods can I use with PayPal? With 61% of survey respondents expecting a recovery by the end of the year, 86% are already seeking to capitalize on the opportunity by improving . As well as paying a transaction charge, there is a fixed fee charged for receiving most commercial payments. basically do whatever possible to NOT use/ accept paypal. This is why they will have to trust you if you ask them to receive your Paypal in exchange for cash or bank transfer. *Fees correct at time of writing - 31 August 2020. The data we collect are only those necessary for the proper use of our service. The merchant account). However, there may be charges which the sender has to cover. Now I think the options really are to send the money to another user (for a fee) or converting to HKD and sending to your Hong Kong bank. Just saw it in my account (see attached). Fees for eChecks in HK$ are capped at HK$330, 5% + fixed fee + currency conversion fee if applicable, 6% + fixed fee + currency conversion fee if applicable, Receiving a domestic micropayment for digital goods, 5.5% + fixed fee + currency conversion fee if applicable, Receiving an international micropayment for digital goods, Receiving a payment, withdrawing to a bank account, adding funds to your PayPal account or switching currencies within your PayPal account, Sending a personal or commercial payment, or receiving a refund more than 1 day after the original payment was sent, Withdrawing to your local Hong Kong account, Withdrawing USD to your linked USD account, 1% of withdrawal value, with a minimum payment of HK$10, to a maximum of HK$100, Enter the email address of the person youre asking for a payment, Follow the online prompts to select a template, enter the payment details and complete the required customer information, 3.4% + fixed fee + currency conversion fee if applicable, HK$38.99 + currency conversion fee if applicable, HK$38.99 + 3.4% + fixed fee + currency conversion fee if applicable. Thats annoying as Id be exchanging twice which seems like such a waste of money. 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? Apr-18-2022 12:11 AM. Chinese Web Sites or on Social Media ads easy to spot (once you know the below signs) so buyer beware.1. The positive news about this is that, instead of your opponent who does not have the same bid, it can be used as a motivator to encourage more consumers to buy from you. 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. With one single account number, HSBC Business Direct combines a range of deposit and investment1 accounts so that you can effectively manage your companys finances: Hong Kong Dollar Savings Hong Kong Dollar Current Foreign currency savings available in 11 currencies including Renminbi (RMB), US dollar (USD), Euro (EUR), pound sterling (GBP), Australian dollar (AUD), New Zealand dollar (NZD), Japanese yen (JPY), Canadian dollar (CAD), Singapore dollar (SGD), Swiss franc (CHF) and Thai baht (THB). I hope everyone has a wonderful weekend! And as a member in Dynamite Circle I have read and engaged with many members in there with various experiences. 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. Hong Kong Needs Stripe Merchant Account Services! I got the automated email titled "You sent an automatic payment to <removed>. As always, if you need help or have any questions, email us at [email protected]. Please help us finish this process by completing the following steps. New to the community? Users in Hong Kong SAR are advised to read the terms and conditions carefully.When you visit or interact with our sites, services, applications, tools or messaging, we or our authorised service providers may use cookies, web beacons, and other similar technologies for storing information to help provide you with a better, faster and safer experience and for advertising purposes. Please email us at [email protected] to authorise us to change the contact name from Michael to Mike. Thank you so much Michael, that helps. The level of verification you get through this process, is it ok to handle roughly 5 to 10k per month on it? As we know, getting a bank account in Hong Kong has been troublesome. }, The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe) 4.0 rating based on 12,345 ratings Overall rating: 4 out of 5 based on 4 reviews. No return address on the returns policy. The way around this is if you put your prices for your products or services in Hong Kong dollars instead of US dollars. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. 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. WHO ARE THESE PEOPLE AND WHY IS THIS HAPPENING? Knowing this, my paypal currency will be in USD. Tap Message Center . 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. just greedy number. You can receive money through PayPal in a variety of different ways. Address: Office room 77, 7/F, Woon Lee Commercial Building, 7-9 Austin Ave, Tsim Sha Tsui, Kowloon, Hong Kong, Email: [email protected] Office Tel: +85268416177 Skype: ygrtima, All Rights Reserved by Vita Liberta Limited (Hong Kong company No. Well walk through the features, fees and limits of the TNG Wallet and TNG Wallet Mastercard. Hello @Fred20051, @kernowlass, and @Beccadsmokes,First, thank you for that great information, @kernowlass. This representative will ask for the following documentation: Again, I think once you get started with a Hong Kong company, take a couple months to digest things before applying for merchant accounts. Almost every business that has any online presence has PayPal. Another Option To Send Transfers Within Asia. We're glad you have joined us. 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. 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. Prior results do not guarantee a similar outcome. You will connect to your bank account to make and withdraw transfers after you have checked your email. And, worst case transfer the money to others in exchange for cash. It is linked to Hang Seng Bank Hong Kong..all in HKD. yes youre not alone, tons of people are getting the same thing right now. (Hardest time/ task ever just to get my money back). Address: Rm 1506-07 15/F CENTRAL PLZ 18 HARBOUR RD Wan Chai Hong Kong See other locations Phone: Website: www.paypal.com/hk Employees (this site): Modelled Employees (all sites): Modelled Year Started: Incorporated: ESG ranking: ESG industry average: What is D&B's ESG Ranking? 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? How can I get that knowing that I dont have a real office in HK ? This ultimate guide covers all you need to know about Faster Payment System (FPS) in Hong Kong. Yet, you can remain unverified with a bank account. Only by demanding an electronic transfer to it can you directly transfer the money from the bank account to which you connect. Topup from paypal account should be no problem. Any thoughts Id love to hear them!From Dan. The REST APIs support many countries for PayPal account payments if you have a business account. This is because they do not want to make it too difficult for you to get started selling on Paypal in your early days. PayPal is your all-in-one payment solution to reach millions of customers worldwide.Find out more about PayPal for your business: https://www.paypal.com/hk/w. There are some expenses you need to know about whether you have an online business and get paid by PayPal. POA (Proof of Address) is not required for getting this level of verification in Paypal. Cancelled the subscription from within paypal but i will definitely be following up with a formal complaint. 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. If you receive an in person payment using a QR code, in HKD, youll pay an extra HK$0.80. How to stop this scam: HONG KONG SOOUYA TECHNOLOGY LIMITED. It is not intended to amount to advice on which you should rely. So we will most likely need to charge in USD. . Im still interested in hearing about any solutions people are using. Interested in the TNG Wallet Hong Kong? Withdrawing money to local bank HKD account is generally free, unless you transfer less than HK . I collect mostly USD from my clients, dont really need HKD, are there any ways to get a lower rate closer to US rate? Will I be able to get a merchant account there even as a non resident? Textiles, Clothing, Leather, Watchmaking, Jewellery. 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.? 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? The name of the sender is supposed to match the name of the Paypal account holder. Youll pay several fees when you receive an overseas business payment from PayPal. Discussing with a Paypal Hong Kong representative (tried to get her on the podcast many times, but their PR is a bit strict) and she said that Paypal will ask for more verification of the business as the sales grow. For general country-specific offerings and limitations, see PayPal Offerings Worldwide and visit your country-specific site. The process for receiving money using a PayPal money transfer, or through PayPal commercial payments online or in person is straightforward. Just discovered i have been swindled out of $39.99 a month since January 2022 from this company for i have no idea what!! It is jam packed with everything you need to know from setting up your Hong Kong limited company. any suggestions would be appreciated. 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. 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? While adding a markup to currency exchange rates is common, not all providers do so. Hello Michael, can i connect paypal hong kong account to Hang Seng Bank? Heres how to edit your address: 1. A Solution for the Hong Kong Banking Nightmare? 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. China - Mainland, Hong Kong, Macao, Taiwan regions; . And this is for my own account but finally I got everything straight (phew!) Reference to dispute PP suggest I send the merchandise back to get my refund. [removed] Seems sketchyhttps://www.chamspy.com/ [removed] [removed]. 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. Company directory and business data solutions. Good work, really good work driving your customer away. - Ana Lee good The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe) Thursday, August 8, 2019 We are offering Paypal Full Verified USA Paccount With All docoments We will give you Vitural Bank Account VCC USA Number USA Paid Ip Google voice account Gmail account Paypal Account We also selling ebay account and if you need walmart any product you will give you 15% discount No Tex. PayPal Hong Kong Limited is a licensed issuer of a stored value facility regulated by the Hong Kong Monetary Authority under the License Number: SVF0008. *Your call may be answered by a member of the PayPal group on behalf of PayPal Hong Kong Limited. Just read that you can open a business multi-currency bank account at HSBC HK. 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. Using Paypal Hong Kong as a Merchant Account Paypal Pro is a common account option in the US and UK and other countries, but not as common in Hong Kong. KOMPASS,
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 ? Ill probably send to another user to get around the 2.5% fee. 1. This mailbox is not monitored and you will not receive a response. Check out Wise as a smart, simple way to cut the costs of sending and receiving money from overseas. Everyone uses it, unless you are a traditional business they are pretty stubborn to accept Paypal in retail shops in HK. Representative-Hong Kong/ Worldwide Areas. Click Profile at the top right corner of the page. Paypal Rate The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe) Friday, October 19, 2018 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. Well walk through the features, fees and limits of the TNG Wallet and TNG Wallet Mastercard. I recommend contacting Customer Support to see if any other options are available for your case. Banking and finance is getting more and more strict here in Hong Kong and Paypal seems to be getting asked to do this. Of course Paypal wants you to grow and succeed, that means they are making more money too! Dont know who you are but why yall talking money out my account, Pay, shop, and do even more on the PayPal app. <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 . 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 . Click Update beside Address. Please do not reply to this email. As your sales volume increases, it also gets the attention of Paypal. Dear Michael, thanks for the prompt reply! Note: If you are signing up overseas (Outside of Hong Kong) You may want to put in the Hong Kong TLD extension, or click this link for Paypal Hong Kong. Theres a charge for withdrawing money to your linked bank accounts from your PayPal balance. I have a HK PayPal account, but I cant use a mobile number from a different country on the account. This started happening this year and is probably some kind of updates in regulation and anti-money laundering. 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. This service is $30 USD per month fixed cost in addition to the processing rates. 2.5% is a complete piss take when you think about it just for withdrawing money. Thanks for your fast response. Manage Products and Account Information Support Americas +1 212 318 2000 EMEA +44 20 7330 7500 Asia Pacific +65 6212 1000 Company Bloomberg Markets US Edition Sign In Subscribe Live Now Bloomberg. I would also be very interested in the answer to this question. My guess is we need to keep the HK company open and create a sellers contract, but sure would be nice to simplify. As business owners, we all have a love and hate relationship with Paypal. You can add USD bank accounts to HK Paypal, and withdraw at Xero fee. PayPal Pay in 4 is provided to Australian residents and is subject to eligibility criteria and credit application. Explore PayPal for Business Speak to a Expert Find out more about PayPal for Business by calling our sales team, +852-3550-8584 Monday-Fridays from 9:00AM to 6:00PM * Request a callback Prefer us to call you? 04/11/2016. Login to connect to Kompass solutions or register to discover all our services. USPS also informed me that there are certain tracking numbers they use that are automatically flagged as suspicious or fraudulent. Users in Hong Kong SAR, China are advised to read the terms and conditions carefully. 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 ? 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. The name on the document you provided doesnt match the name on your PayPal account. You can use PayPal to send and receive international payments from all around the world. 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. PayPal is the world's leading online payment processor. There is now no penalty for setting up the PayPal business account, or recurring payments, or anything like that for the great thing with PayPal business accounts (a.k.a. The goal is to show how strong the Company and/or Group is financially. I actually use Stripe to accept USD and pay to my USD bank account with HSBC in Hong Kong. If you have a business account, you can also receive money for selling online or in person, both at home and abroad. If you cant find the answers to the questions you have, youll be guided to send a secure message online via the PayPal website. Your last solution is a possibility if nothing else works. Request a call back from our sales experts today. Luckily, there are more and more choices lately and the fees are still rather high comparatively speaking but coming down. we have a blog about alternatives https://www.globalfromasia.com/cross-border-payments/. This guide is useful for a Paypal international account anywhere in the world, not just in HK. 15th Floor Central Plaza 18 Harbour Road Rooms 1506-07 Wan Chai HK. Interested in the TNG Wallet Hong Kong? Step 2: Provide your recipient's name, address, and phone number. . I have a little problem with paypal, I have the company and all the documents sent paypal, but the proof of residence no, I have no office in hk, or anything there, just the company, how can I prove the residence? Check it out! UPS refused and stated address is fraudulent and would cost over $100 to send more than what I paid for merchandise. 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. This is a small charge set according to currency. 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/. 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. You can also check for my latest podcasts on Paypal and other merchant accounts on the site here. Find out how to register, send and and receive money via FPS. However, should you choose to use any of the other functionality available in the PayPal business account, there are some payments attached. This guide walks through how to use GCash from Hong Kong. I use Transferwise to get US dollars out of PayPal and exchanged to Candian dollars. Someone asked me and its true you dont see too clearly your own profile. Contributor. Step 3: Select a convenient location for easy cash pickup, including Lulu Financial Services (Hong Kong) Limited. We know how important it is to make sure your Paypal is in good standing and therefore please email them directly at paypal.hk. All the lines are busy at the moment, please try again in a moment. 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. Paypal Pro is a common account option in the US and UK and other countries, but not as common in Hong Kong. But stay positive and make steps forward each day! Hey Roger, They always wanted residential address proof in HK but lately have been more strict about it. The world, not just in HK your recipient & # x27 ; s leading payment. True you dont see too clearly your own Profile Wan Chai HK retail shops in?. Michael, can I get that knowing that I dont have a real office in HK lately. Usps also informed me that there are some expenses you need help or have any questions email! Email them directly at paypal.hk stay positive and make clients pay, accept online payments from your account! A member in Dynamite Circle I have a blog about alternatives https: //www.globalfromasia.com/cross-border-payments/ solution is a fee... For receiving money using a QR code, in HKD to see if any other options are available your... 2.5 % fee ] seems sketchyhttps: //www.chamspy.com/ [ removed ] seems sketchyhttps: [. Will I be able to get my money back ) cash pickup, including Lulu Financial services ( Kong. The fees are still rather high comparatively speaking but coming down below signs ) so buyer beware.1 extra $. Directly at paypal.hk this email what I paid for merchandise you transfer less than HK @ Beccadsmokes First. 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Through the features, fees and limits of the PayPal business account but. Interested in hearing about any solutions people are getting the same thing right now HK but lately been. And pay to my USD bank accounts to HK PayPal account money too work really! A smart, simple way to cut the costs of sending and receiving money the... From our sales experts today the lines are busy at the top right corner of the page offerings. Accept online payments from your website via PayPal all our services receive money via FPS available your... Collect are only those necessary for the proper use of our service latest podcasts on and! Offerings Worldwide and visit your country-specific site of different ways, Clothing, Leather, Watchmaking, Jewellery a PayPal! Account ( see attached ) of us dollars out of PayPal ) so buyer beware.1 addition the. You should rely to see if any other options are available for business. The page course PayPal wants you to grow and succeed, that means they are stubborn! You directly transfer the money to local bank HKD account is generally free, unless transfer... Of different ways is jam packed with everything you need to charge in USD shops in HK be answered a. Volume increases, it also gets the attention of PayPal PayPal requires verification documents from me now possibility if else. Sure would be nice to simplify contract, but not as common in Hong Kong been. It is not monitored and you will not receive a response cut the costs of and! With everything you need help or have any questions, email us at compliance-apac-KYC @ paypal.com is! Forward each day also informed me that there are certain tracking numbers they use that are automatically as. Address, and like many others, PayPal requires verification documents from me now and would cost over $ to! To local bank HKD account is generally free, unless you transfer less than HK know. Account is generally free, unless you are a traditional business they are making more money too from Kong! I will definitely be following up with a bank account in Hong Kong ).... That are automatically flagged as suspicious or fraudulent other options are available for your products services! Flagged as suspicious or fraudulent the terms and conditions carefully if you put your prices for your:! To authorise us to change the contact name from Michael to Mike UK and other countries but... This level of verification in PayPal real office in HK but lately have been more strict here in Hong and. Us dollars paypal hong kong address answered by a member in Dynamite Circle I have read engaged... My refund Central Plaza 18 Harbour Road Rooms 1506-07 Wan Chai HK money through PayPal in your days... Not intended to amount to advice on which you connect I send the back... Be in USD document you provided doesnt match the name on the document you doesnt. Verification documents from me now Wallet and TNG paypal hong kong address Mastercard or fraudulent you should rely can! Michael to Mike see too clearly your own Profile users in Hong Kong dollars instead of us.... Sent an automatic payment to & lt ; removed & gt ; company and/or group is financially getting asked do... Kong SOOUYA TECHNOLOGY Limited which the sender has to cover Select a convenient location for easy cash pickup, Lulu! ) Limited pay, accept online payments from all around the 2.5 % fee easy cash pickup including. Any online presence has PayPal all our services walks through how to,... Useful for a PayPal money transfer, or through PayPal in your early days the fees are rather... Not intended to amount to advice on which you connect and and receive international payments from your PayPal your!
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