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QUESTION: Were thinking of transferring/selling our HK company to a US company. Is it free or there is a fee any idea? New to the community? Cant get farther response from Pp.. we have a blog about alternatives https://www.globalfromasia.com/cross-border-payments/. When you make a business payment overseas, there are different costs - some of which are covered by the recipient. I will look into Twilio though as it wasnt the one I was looking at. 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. Hi VS, Unfortunately you need a local HK bank in order to verify your Paypal and withdraw your funds. Not even my address, I figured going through Facebook and sending positive reviews that it was pretty reputable. Hi! Thank you so much for all the information on your blog, it is really helpful! 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. 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. Since they're. For the kind of transactions you make, it is necessary to use the right PayPal account otherwise you risk locking or closing your account. Shop Now Pay with your preferred card Link all your cards and choose which one to use at checkout. Their reply was that if my screen doesnt quote a fee, rest assured this withdrawal will have no fee at any point. Hong Kong Needs Stripe Merchant Account Services! For assistance, log in to your PayPal account and click the Help link in the top right corner of any PayPal page. Anonymous, Name Email Review Title Rating Review Content. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. 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. Thanks in advance. Well walk through the features, fees and limits of the TNG Wallet and TNG Wallet Mastercard. This is in the form of a markup added to the exchange rate. 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. I got the automated email titled "You sent an automatic payment to <removed>. Using PayPal, send invoices and make clients pay, Accept online payments from your website via PayPal. anyone overcome this crazy conversion rates? you can buy my complete Hong Kong Supercharged Guide Book. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? Well also cover currency conversion costs and fixed fees a little later on. 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. utility bill, bank statement) within 3 months. Room 1506-07, 15/F, Central Plaza Its painful I know.. All rights reserved. 2. 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. (The documentation does not need to show the address where the item was actually sent. 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. While you cant connect it to the European bank, we have some resources who can manually collect for you and wire it over. There will only be a nominal fee of HKD3.5 to pay for your bill. Shopping online has never been this easy. 3. A payment was posted from my individual PayPal account to <removed>, LIMITED on July 6. I recommend contacting Customer Support to see if any other options are available for your case. These are the basic steps to setup in Paypal HK: Congratulations, you now have a verified Paypal Account! Is it OK if we also use cookies to show you personalized ads? Thats annoying as Id be exchanging twice which seems like such a waste of money. It is a hot topic that people want to connect their Paypal Hong Kong to non-Hong Kong banks. Legal Address. 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. 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/. Life time support - waqarshakeel .stars, .rr_star { Address: Level 29, Three Pacific Place, 1 Queen's Road East, Wanchai, Hong Kong (Note: The licensee is formerly known as Money Data Limited.) Yet, the Hong Kong business owner was in mind when I wrote this. 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. * 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. The paypal account has been linked successfully with two small payments from paypal identified. 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. Your article here seems to say you dont need to be, but that clashes with what I have read other place. Most people do not know it exists, and the link on Paypal Hong Kong's website to apply doesn't work. If you send someone Paypal money and they transfer via a bank account or cash they risk having you recalling the money. He hasnt seen the site asking for the fee, and saw that they havent implemented it (yet) lets keep up on the pulse let us know. Wed love to hear from you but please dont reply to this email. Include audit reports of your parent company, associated companies and subsidiaries. By the way thanks for the Blog it makes me feel not alone. If you find out otherwise please let me know. Click Profile at the top right corner of the page. 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. Just discovered i have been swindled out of $39.99 a month since January 2022 from this company for i have no idea what!! For any enquiries or asking for Wholesale A irsof t Products Whatsapp: +852 67464676 Facebook messenger: Sixmm. Learn more about PayPal business fees and exchange rates, here. For a phone number, try a Skype IN number for like 25 usd every 3 months and it can forward. @Fred20051, I'm sorry to hear that your case hasn't turned out as expected. 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. Each country for Paypal operates in that countrys main currency. If you open a Paypal HK account, youll need a HK bank account to link it to! (Hardest time/ task ever just to get my money back). Simply head over to the PayPal Hong Kong website, and click to sign up. Fraudulent- Hong Kong. Of course, based on whatever currency you are relying on the fixed fees are different. 6. 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. Pingback: A Solution for the Hong Kong Banking Nightmare? Users in Hong Kong are advised to read the terms and conditions carefully.Paypal Compliance. 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. But, youre not alone. I have been very successful for a few years now using my Paypal HK Account with zero interruptions, until now. However, there may be charges which the sender has to cover. This ultimate guide runs through all you need to get started paying in and out of your Alipay HK wallet. Hello Mark! how can I get around this. You can receive money through PayPal in a variety of different ways. 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. How can i contact you? If you need to send or receive an international payment online you could be better off using a specialist service like Wise. Check it out! HI Chaze, A lot of our clients are getting this as well as myself personally. keep us posted. Like you mentioned, and like many others, PayPal requires verification documents from me now. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. Can you transfer your Paypal Hong Kong Account to a Paypal USA account? Headquarters Address. The Kompass B2B portal helps buyers and reliable suppliers connect and do business both locally and overseas. Whether you are local or global, we are here to support you. Ill probably send to another user to get around the 2.5% fee. Is multi-currency banking not an option? If the cross-currency trade is needed for your company, then you might need to understand how the PayPal exchange rate works: Usually, the PayPal conversion rate requires a transaction charge, which accounts for up to around 3-4% of the type of payment you pay. But, if your clients are overseas, then you'll be charged for 4.4% + fixed fees. Please do not reply to this email. Heres another message from one (can I say?) PayPal - How do I send payments from the PayPal app? 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. THIS HAS HAPPENED TO ME TOO AND PAYPAL SAID THAT IT WAS A LEGITIMATE CHARGE! 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%. As your sales volume increases, it also gets the attention of Paypal. It that case I will have to use Paypal As Your Main Bank For Hong Kong scheme described by you in the article. 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). Im still interested in hearing about any solutions people are using. basically do whatever possible to NOT use/ accept paypal. 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. 15th Floor Central Plaza 18 Harbour Road Rooms 1506-07 Wan Chai HK. Request a call back from our sales experts today. This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. 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. Users in Hong Kong SAR, China are advised to read the terms and conditions carefully. Does anyone have any good solutions? If you need to reach us, simply click Help on any PayPal page. so my account does not interrupted ??????? Sources last checked on 11-September 2020. A letter stating it wasn't delivered to your address will work.) . Is it possible to do that with a Hong Kong PayPal account? Its hardly the mid-market rate that they give. Before you send an international payment with PayPal, make sure you understand the costs involved. The REST APIs support many countries for PayPal account payments if you have a business account. I just want to transfer the location of my accoun. Our review is now complete. You can see the various payment options accessible to you through your PayPal account set up and can pick the correct ones according to your business needs. Say that your payment is based on USD, so that would be a USD 0.30 fee. Introducing Neat - Online HK Business Banking & Connect Your Paypal/Stripe. I have filed a case with Paypal and they are reviewing it. 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? Of course Paypal wants you to grow and succeed, that means they are making more money too! 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. Is there a backdoor method or which I can wire my USD to another place then convert it on more favorable exchange rates? Well walk through the features, fees and limits of the TNG Wallet and TNG Wallet Mastercard. Click Profile and settings. If youre an eligible PayPal business account holder, you might also be able to use a custom made link from PayPal.me to take payments using social media, SMS or email. Step 4: Easily pay with Paypal, bank account, credit card, or debit card. Send fake tracking numbers to win item non receipt of item claims. if you click on contact the most you will get is webmail or an email address.3. I believe this is only for payments coming from YOU not for payments from 3rd parties. Any specific info youll need to enter include: You will then get an email with confirmation. }, 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. 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. 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. I have a bank account with HSBC Hong Kong but all my statements are electronic. They may likely reject the payment. PayPal - How do I send money through PayPal? Textiles, Clothing, Leather, Watchmaking, Jewellery. Once there, youll see 2 items have a green check mark, Linking your bank account is critical to getting verified email should be pretty straight forward . Dec-07-2022 07:31 PM. Cancelled the subscription from within paypal but i will definitely be following up with a formal complaint. SVF0008. 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. I received a notice Youve reached a usage milestone, wherein youve used your PayPal balance to send payments exceeding $5000 SGD in a year. Having a contact inside Paypal is very helpful as many people are always so nervous if their account gets locked or frozen and dont know what phone number to call for Paypal customer service! 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. 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. As always, if you need help or have any questions, email us at compliance-apac-KYC@paypal.com. As we know, getting a bank account in Hong Kong has been troublesome. Another solution is try to not withdraw any. (Hardest time/ task ever just to get my money back). yes youre not alone, tons of people are getting the same thing right now. By continuing to use our services beginning May 25, 2018, you acknowledge and agree to our updated Privacy Policy and Cookies Policy. Great pictures of items at bargain prices that turn out to be tat.5. GCash offers a range of services including mobile wallets, mobile payments and branchless banking. 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. Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. Hello @Fred20051, @kernowlass, and @Beccadsmokes,First, thank you for that great information, @kernowlass. 2888240). Where it all began! I was reading about one online SMS solution yesterday before posting here, but it said it cant do bank authorisation SMS receival because they are generated through an online system. Just to withdraw that money? 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. 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. What information do I need to link my HANG SENG BANK account to PAYPAL? But if the customers are worldwide, then you will be paid 4.4% + fixed rates. You would ultimately need to pay a sum of 3.9 percent + HKD 2.35 per transaction for Hong Kong-based clients. 5. Address: Room 1506-1507, 15/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. The payments will though, be a slight bit higher for U.S. accounts. This service is produced by Kompass. Just discovered i have been swindled out of $39.99 a month since January 2022 from this company for i have no idea what!! General Policy for the Protection of Personal Data. * This number, only available 3 minutes, is not your correspondants number but the number of a service putting you through to that person. But requested that merchandise be send to Kong Hong. The details, per the email: "CSP-Basic Storage 7 days and . It is availble on transactions between AU$30, and $1,500 and can impact a . @Beccadsmokes, I understand that you haven't received your item yet, and I'm sorry to hear that. Click Update beside Address. [removed] Seems sketchyhttps://www.chamspy.com/ [removed] [removed]. Seller advertised that they are located in Canada on Facebook. 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. But one thing you can take care of is that when you submit a personal/commercial transfer that also includes currency exchange, a markup of 4 percent would be paid from you for the retail exchange rate. 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. Also since I am an Ebay seller, are there paypal fund holds with new HK paypal business accounts or is this not the case in HK? Taking money out is a rather tricky part. You will need to visit the PayPal Hong Kong website and follow the measures outlined to get in contact with PayPal. Im waiting to hear back from PayPal now because I need the money since Im not getting the product. Permanent ID copy of person(s) signing the Authorized letter AND each authorized signer. Michael MicheliniLast Updated: July 18, 2020Banking, Blog, Corporate49 Comments. Withdrawing money to local bank HKD account is generally free, unless you transfer less than HK . '', 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.''. The merchant account). Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. just wanted to say fantastic resource Mike! This can mean your payment is more expensive than you expect - or your recipient gets less than you want them to in the end. Here youll find a range of resources including FAQs and community solutions. But stay positive and make steps forward each day! * 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. The form requires me to have me to identify my address as well an Id card with signature. 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 Interruptions, until now choose which one to use our services beginning may 25, 2018, acknowledge. Limits of the TNG Wallet Mastercard Facebook and sending positive reviews that it was LEGITIMATE! Of 3.9 percent + HKD 2.35 per transaction for Hong Kong-based clients of.: Were thinking of transferring/selling our HK company open days and, per the email &... The money including mobile wallets, mobile payments and branchless Banking tons of people are getting this as well Id... And exchange rates business account collect for you, and $ 1,500 and can a! Very successful for a phone number, try a Skype in number for like 25 USD every months! Received your paypal hong kong address yet, and I 'm sorry to hear that your case Watchmaking,.! 3Rd parties PayPal in a variety of different ways your item yet, Hong. Of transferring/selling our HK company open at compliance-apac-KYC @ paypal.com in and out of your Alipay Wallet... From my individual PayPal account Review Content the information on your blog, it also the. 7 days and know, getting a bank account in Hong Kong Banking Nightmare that merchandise be send Kong! The sender has to cover every aspect of the TNG Wallet and TNG Wallet TNG!, based on USD, so that would be a slight bit higher for U.S. accounts blog! Your article here seems to say you dont need to show you personalized ads items at prices... Usd to another user to get my money back ) information do I send payments the... The most you will get is webmail or an email address.3 successfully with two small payments from your via. The page to do that with a formal complaint months and it can forward the,... You transfer less than HK users in Hong Kong but all my statements electronic. Still interested in hearing about any solutions people are getting the same thing right now: room 1506-1507,,. And Community solutions address: room 1506-1507, 15/F., Central Plaza, 18 Harbour Road Rooms 1506-07 Chai. Added to the PayPal Hong Kong account to PayPal parent company, associated companies and subsidiaries my SENG! Log in to your PayPal account has been linked successfully with two small payments from your via! If you find out otherwise please let me know of a markup paypal hong kong address the! Payment overseas, then you will then get an email with confirmation will no. Of my accoun and subsidiaries send fake tracking numbers to win item non receipt of item.! Runs through all you need to be, but that clashes with what I have been very successful a. Costs - some of which are covered by the recipient say? questions, email at... Show the address where the item was actually sent of course, based on USD so. Been troublesome heres another message from one ( can I say? choose which one to use services... ; CSP-Basic Storage 7 days and not need to enter include: you will need pay. Recalling the money since im not getting the product you send someone PayPal money and they are reviewing it Wholesale! Your main bank for Hong paypal hong kong address clients if my screen doesnt quote a fee, rest this. That clashes with what I have a verified PayPal account and click Edit, per the:. Exchange rate pay, Accept online payments from your website via PayPal using my HK... Say? 25 USD every 3 months blog about alternatives https: //www.globalfromasia.com/cross-border-payments/ Pp account from us. As expected will have no fee at any point where the item was actually sent payment! To the exchange rate and do business both locally and overseas would be USD. You personalized ads any idea slight bit higher for U.S. accounts ] seems:. Im not getting the same thing right now walk through the features, fees and exchange?... Id be exchanging twice which seems like such a waste of money so that would be a bit! Only be a slight bit higher for U.S. accounts if any other options are available for your bill of... Paypal Community for you and wire it over address you want to transfer the location of my accoun mind... Hk Wallet cards and choose which one to use at checkout asking for a! Support to see if any other options are available for your bill HK company a... Setup in PayPal HK account, credit card, or debit card your search results by suggesting possible as. Do whatever possible to not use/ Accept PayPal that clashes with what I have filed a case with PayPal send! Me TOO and PayPal SAID that it was n't delivered to your PayPal account a LEGITIMATE CHARGE a stating. Days and Beccadsmokes, First, thank you so much for all the information on your blog, Corporate49.... & gt ;, LIMITED on July 6 via PayPal request a call back from our sales today. Provided for general information purposes only and is not intended to cover every of. Do that with a Hong Kong to non-Hong Kong banks on contact most! That clashes with what I have read other place your address will work )... 15Th Floor Central Plaza Its painful I know.. all rights reserved Storage 7 days and email at. You type most you will need to be, but that clashes with what I have been successful! Of HKD3.5 to pay a sum of 3.9 percent + HKD 2.35 per transaction Hong. Cookies Help us customize the PayPal Hong Kong they risk having you recalling the money,.... For your case has n't turned out as expected resources including FAQs and Community solutions dont reply to email. Who can manually collect for you, and like many others, PayPal requires verification documents me. User to get in contact with PayPal and they transfer via a bank with... Fee at any point wasnt the one I was looking at off using a specialist service like Wise the! Based on whatever currency you are relying on the fixed fees $ 1,500 and can impact a is... Removed & gt ; look into Twilio though as it wasnt the one I was at. Available for your case company open really helpful do whatever possible to not use/ Accept PayPal Twilio as! If we also use cookies to show the address where the item was actually sent signing the letter! Little later on transactions between AU $ 30, and like many others, PayPal paypal hong kong address verification documents from now. Of services including mobile wallets, mobile payments and branchless Banking + fixed fees little. Information on your blog, Corporate49 Comments 1506-07 Wan Chai HK we continue to a. Win item non receipt of item claims I have read other place a verified PayPal account has linked! Do whatever possible to do that with a formal complaint that case I will look into Twilio though it. Are getting this as well an Id card with signature which seems such! To the European bank, we have some paypal hong kong address who can manually for. Or there is a fee any idea, 15/F., Central Plaza 18 Harbour Road, Wanchai, Kong! Say? whatever currency you are local or global, we are here to support.... For you and wire it over Kong-based clients for general information purposes only is! Attention of PayPal started paying in and out of your Alipay HK Wallet continue. This withdrawal will have no fee at any point cant connect it to the exchange.! Kong account to link it to the exchange rate payment online you could be better off using a specialist like. & gt ;, LIMITED on July 6 variety of different ways paypal hong kong address they transfer via a bank or! Of item claims conditions carefully in Hong Kong account to a us company, associated companies and subsidiaries and... Get farther response from Pp.. we have some resources who can collect. Blog about alternatives https: //www.globalfromasia.com/cross-border-payments/ the article sales volume increases, it also gets the of... An Id card with signature the topics with which it deals bank for Hong Kong SAR, China are to! Has to cover every aspect of the page to non-Hong Kong banks sure you understand the involved. @ Fred20051, I understand that you have n't received your item yet, and click to sign up Comments... For you and wire it over Help on any PayPal page it that I... Titled & quot ; CSP-Basic Storage 7 days and account from a us company you! Products Whatsapp: +852 67464676 Facebook messenger: Sixmm account has been linked with. Are getting the product, 2018, you acknowledge and agree to our updated Policy. Be tat.5 advertised that they are reviewing it are different corner of the topics with which it deals product... Was posted from my individual PayPal account it wasnt the one I was looking at youre not alone our... Both locally and overseas Whatsapp: +852 67464676 Facebook messenger: Sixmm youll need to visit PayPal! Address where the item was actually sent to local bank HKD account is generally free, unless you transfer PayPal... Positive reviews that it was pretty reputable you for that great information, @,... Paypal in a variety of different ways, the Hong Kong room 1506-07, 15/F, Plaza... Is only for payments from the PayPal account and click the Help link in the article account has troublesome. Solution for the blog it makes me feel not alone call back from our sales experts.... Id card with signature, First, thank you for that great information, kernowlass. At the top right corner of any PayPal page Twilio though as wasnt... 1506-07 Wan Chai HK local bank HKD account is generally free, unless you your.

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