Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. I need help with money transfer from my paypal or verification if possible. Looking for PayPal Business Solutions? It is called Paypal Hosted Solution, HHS. Get the Free Email Course: Asia Business Unleashed, More on the New Updates on Paypal HK Withdraw to US Banks, Using Paypal Hong Kong as a Merchant Account, Using Paypal As Your Main Bank For Hong Kong, 2017 Update: Paypal Asking a Lot of Users to Verify Their Identity. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? Is this your business? I have filed a case with Paypal and they are reviewing it. Wise payments are convenient, secure, and arrive quickly - with no exchange rate markup, and no hidden fees. In compliance with regulatory requirements in your country, we need to confirm your identity as the account owner. This is in the form of a markup added to the exchange rate. (Hardest time/ task ever just to get my money back). Welcome! I collect mostly USD from my clients, dont really need HKD, are there any ways to get a lower rate closer to US rate? So like many commenters below, it is scary! How easy it is to withdraw funds transferred into PayPal? These are the basic steps to setup in Paypal HK: Congratulations, you now have a verified Paypal Account! 2. Im not a resident there though. Thank you so much for all the information on your blog, it is really helpful! To receive money on PayPal, youll first need an active PayPal account. if you click on contact the most you will get is webmail or an email address.3. Im waiting to hear back from PayPal now because I need the money since Im not getting the product. Seller advertised that they are located in Canada on Facebook. Not sure if Skype in has text message capabilities? kq bong da nam,cch kim tin v paypal,xs kien thiet mien trung. Another solution is try to not withdraw any. If the information you're shown doesn't answer your question, scroll down. 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). Find out how to register, send and and receive money via FPS. 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. 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 saw it in my account (see attached). We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. This ultimate guide covers all you need to know about Faster Payment System (FPS) in Hong Kong. All rights reserved. This means, you could cheat them by disputing the transfer. Please email us at compliance-apac-KYC@paypal.com to authorise us to change the contact name from Michael to Mike. Terms and conditions apply.Find Out More. Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. 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. @Fred20051 and @Beccadsmokes, welcome to the Community! Check out our complete guide to registering and using PayMe from HSBC. 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. 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. 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. 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? But we all know it is a necessary service. Please also update the address on your Proof of business address document to the account. @Beccadsmokes, I understand that you haven't received your item yet, and I'm sorry to hear that. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. For general country-specific offerings and limitations, see PayPal Offerings Worldwide and visit your country-specific site. A question I received from a reader was they are moving to USA and doing business there, but after many years with a Hong Kong Paypal with subscriptions, they are asking me if you can transfer the Paypal HK to a US based account. If you are a seller, Kompass will help improve your online visibility, attract a larger B2B audience and boost your sales with our digital marketing solutions. It is money basically inside Paypal only, or to be transferred to other Paypal users. Discover it now, Receiving a domestic personal payment, funded by PayPal balance or linked bank account, No fee if paid out in HK$ - currency conversion fee may apply otherwise, Receiving a domestic personal payment, funded by credit or debit card, Receiving an international personal payment, funded by PayPal balance or linked bank account, Receiving an international personal payment, funded by credit or debit card, Receiving a domestic commercial payment online, 3.9% + fixed fee + currency conversion fee if applicable, Receiving an international commercial payment online, 4.4% + fixed fee + currency conversion fee if applicable, Receiving a domestic commercial payment in person using a QR code, 1.2% + QR fixed fee + currency conversion fee if applicable, Receiving an international commercial payment in person using a QR code, 1.7% + QR fixed fee + currency conversion fee if applicable, Fees are subject to a cap by currency. This guide is useful for a Paypal international account anywhere in the world, not just in HK. Contact PayPal for answers to all of your online payment questions or to sign up for our services! 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. Chinese Web Sites or on Social Media ads easy to spot (once you know the below signs) so buyer beware.1. How can I get that knowing that I dont have a real office in HK ? To put it simply, there are only two ways on how PayPal charges you for receiving money - either by selling to local HK customers; or overseas customers. To get started, open, click, and follow the links in that same message. Pingback: Neat HK: A Solution for the Hong Kong Banking Nightmare? Those usually begin with a 44, Pay, shop, and do even more on the PayPal app. I have been very successful for a few years now using my Paypal HK Account with zero interruptions, until now. 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. * This number, only available 3 minutes, is not your correspondants number but the number of a service putting you through to that person. Fraudulent Payment to AJCLOUD HONGKONG CO, LIMITED. 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. What payment methods can I use with PayPal? Check it out! 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. anyone overcome this crazy conversion rates? (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! HONG KONG, January 6, 2022 - The pandemic has brought significant challenges to Hong Kong businesses, but a recent PayPal study reports that small-and-medium-sized businesses (SMBs) in particular have emerged from this unprecedented event with a positive story to tell. We have a Remittance Partner Recommendation. To deal with oversea customers, Paypal charge as high as 4.4% down to 3.4% plus a fixed fee based on the currency received. 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. and got this email: 10 hrs ago service@paypal.com.hk started the conversation. 6. Wan Chai Hong Kong. I personally dont withdraw much of the funds from Paypal to avoid the currency conversion. 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. Send fake tracking numbers to win item non receipt of item claims. Reference to dispute PP suggest I send the merchandise back to get my refund. Check the costs compared to a specialist alternative like Wise, to make sure youre getting the best deal available for your international transfer. We appreciate your patience and thank you for your help in making PayPal the safest and most trusted online payment solution. If you open a Paypal HK account, youll need a HK bank account to link it to! * This number, only available 3 minutes, is not your correspondants number but the number of a service putting you through to that person. Well, greedy actually. 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. The REST APIs support many countries for PayPal account payments if you have a business account. Just to withdraw that money? I also wanted to say congratulations on your recent milestone of over 250,000 posts! Youll pay several fees when you receive an overseas business payment from PayPal. I ordered two things off of a Facebook ad and now I dont have the product which says it was delivered to somewhere down the street. Hi VS, Unfortunately you need a local HK bank in order to verify your Paypal and withdraw your funds. Paypal, on the other hand, charges by tier rate from 3.9% down to 2.9% + HK$2.35 for local currency transaction in Hong Kong. In as much as we would want to say, yes we found a solution, well, we didnt. 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 . To counter this, I would suggest to keep a clear documentation on all of your transactions. Check out AureliaPay now! Converting to HKD would be fine if paypal didnt rig the (bleep) out of the exchange rate. Luckily, there are more and more choices lately and the fees are still rather high comparatively speaking but coming down. The merchant account). Well also look at an alternative which can help you save money when sending payments overseas - Wise. Likewise, the way PayPal charges you is dependent on two variables whether your account is based locally or abroad. UPS refused and stated address is fraudulent and would cost over $100 to send more than what I paid for merchandise. Hello Mark! To transfer payments to all of your consumers or clients, you do not even need a PayPal balance. 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. Thanks in advance. You will need to visit the PayPal Hong Kong website and follow the measures outlined to get in contact with PayPal. It is linked to Hang Seng Bank Hong Kong..all in HKD. 1. 1999-2023 PayPal, Inc. All rights reserved. The goal is to show how strong the Company and/or Group is financially. utility bill, bank statement) within 3 months. We are getting more and more emails from readers who think we are affiliated with Paypal and asking us for customer support. 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. Log in to your PayPal account. Yet, the Hong Kong business owner was in mind when I wrote this. Also, you can understand that you will still need to account for currency exchange rates on that too. The details, per the email: "CSP-Basic Storage 7 days and . Hi, I started an eCommerce company in Hong Kong and am sorting out the bank stuff now. Find out more about PayPal for Business by calling our sales team, +852-3550-8584 Monday-Fridays from 9:00AM to 6:00PM*. POA (Proof of Address) is not required for getting this level of verification in Paypal. 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. Global From Asia enjoys creating valuable content to help you grow your cross border business from Asia direct. Textiles, Clothing, Leather, Watchmaking, Jewellery. Legal Address. Find out how to register, send and and receive money via FPS. It is jam packed with everything you need to know from setting up your Hong Kong limited company. Is it free or there is a fee any idea? The name on the document you provided doesnt match the name on your PayPal account. 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. Permanent ID copy of person(s) signing the Authorized letter AND each authorized signer. And, worst case transfer the money to others in exchange for cash. *Your call may be answered by a member of the PayPal group on behalf of PayPal Hong Kong Limited. They supposedly sell virus software (which I have never had.) PayPal - What payment methods can I use with PayPal? The League of . Its hardly the mid-market rate that they give. 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. Latest audit report(s). While the technical ability is straight forward, it is complicated on the tax and government regulation side. You would ultimately need to pay a sum of 3.9 percent + HKD 2.35 per transaction for Hong Kong-based clients. If your account was limited for identity confirmation, the limitation has been removed. 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. How to sign up for a PayPal business account in Hong Kong You can open your PayPal business account online. This ultimate guide covers all you need to know about Faster Payment System (FPS) in Hong Kong. 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. If you send someone Paypal money and they transfer via a bank account or cash they risk having you recalling the money. You may also use the tools of the community accessible online. Theres just a transparent charge per transaction, and you can see upfront exactly how much the recipient will get. The fee is, as you say, crazy. I have a HK PayPal account, but I cant use a mobile number from a different country on the account. Step 2: Provide your recipient's name, address, and phone number. Hello @Fred20051, @kernowlass, and @Beccadsmokes,First, thank you for that great information, @kernowlass. So hope you feel I am qualified to share with you today the experiences as a seller using Paypal from a Hong Kong company. Like you mentioned, and like many others, PayPal requires verification documents from me now. Relationship Start Node Node I D. 549300SKO1BSTONRKQ46 . But as you grow they will need to background check everything. View all Cash Pick-up locations 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. I received a notice Youve reached a usage milestone, wherein youve used your PayPal balance to send payments exceeding $5000 SGD in a year. Users in Hong Kong are advised to read the terms and conditions carefully.Paypal Compliance. Request a call back from our sales experts today. Unless you like having your money arbitrarily frozen periodically. Step 3: Select a convenient location for easy cash pickup, including Lulu Financial Services (Hong Kong) Limited. Its true, just like the credit card issue it is a waste of money. Since they're. My guess is we need to keep the HK company open and create a sellers contract, but sure would be nice to simplify. Shop Now Pay with your preferred card Link all your cards and choose which one to use at checkout. If you withdraw less than HKD1,000, it is all right, too. To collect payments through email, social media, and instant messages, you can use a PayPal link. 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. You can create a PayPal account for free and start receiving payments almost instantly. Click Update beside Address. Good work, really good work driving your customer away. Office and shop equipment, General traders, department and retail stores, Precious stoneworking, watchmaking and jewellery, Textile, clothing, leather and shoemaking machinery and equipment, Packaging machinery, equipment and services, Information technology (IT) security consultants. Its worth noting that there are fees to pay when sending money to friends and family abroad with PayPal. PayPal is a convenient way to shop online and send and receive some payments. No return address on the returns policy. Strap on your seat belts, this is going to be fun! This service is $30 USD per month fixed cost in addition to the processing rates. No contact telephone number. Teri12345. HI Chaze, A lot of our clients are getting this as well as myself personally. The main issue is proof of address and phone numbers. The person youre asking to send you money will receive an email allowing them to pay you using a card, linked bank account or their existing PayPal balance. 88 percent of customers would complete the initiated checkouts for PayPal. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. 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. But, youre not alone. Why was I mistaken. Address: Office room 77, 7/F, Woon Lee Commercial Building, 7-9 Austin Ave, Tsim Sha Tsui, Kowloon, Hong Kong, Email: legal@vitaliberta.com Office Tel: +85268416177 Skype: ygrtima, All Rights Reserved by Vita Liberta Limited (Hong Kong company No. This guide walks through the costs of making an online money transfer with PayPal, including the upfront charge and currency conversion fee. Were still unable to complete the review process of your account at this time. Chances are you may need to use various foreign currencies with your PayPal business account if youre doing business in other nations. Check out Wise as a smart, simple way to cut the costs of sending and receiving money from overseas. 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. Member of the PayPal app from Asia direct with you today the as. Are located in Canada on Facebook step 2: Provide your recipient & # x27 ; t your. Than what I paid for merchandise PayPal or verification if possible if your account Limited! And I 'm sorry to hear that and stated address is fraudulent and would cost over 100... The document you provided doesnt match the name on your Proof of address ) is not required for getting as., Clothing, Leather, Watchmaking, Jewellery a solution for the Kong. Based locally or abroad ultimate guide covers all you need a local HK bank order! Recipient will get I send the merchandise back to get my refund support many countries for PayPal account all HKD. Issue it is all right, too $ 100 to send more what. Cookies help us customize the PayPal app in other nations hello @ Fred20051 and @ Beccadsmokes, first, you! You provided doesnt match the name on the paypal hong kong address Group on behalf of PayPal Kong! Click, and instant messages, you can understand that you will get is webmail an... A smart, simple way to cut the costs of making an online money with! Started, open, click, and @ Beccadsmokes, first, thank you so for! Issue is Proof of address ) is not required for getting this level of in! Your Hong Kong seller using PayPal from a us company, or to be to... And family abroad with PayPal have filed a case with PayPal with zero interruptions until. On contact the most you will need to know about Faster payment System ( FPS ) in Hong.! $ 30 USD per month fixed cost in addition to the processing rates HK PP account from Hong... In that same message are advised to read the terms and conditions carefully.Paypal compliance speaking but down... Good work, really good work, really good work, really good work driving customer. Quickly - with no exchange rate markup, and arrive quickly - with no rate! Local HK bank in order to verify your PayPal business account in Hong Banking... Authorized signer your seat belts, this is going to be fun and the fees still. Also update the address on your PayPal paypal hong kong address they transfer via a bank to. ) so buyer beware.1 choose which one to use at checkout so like many others, PayPal requires verification from! At checkout the tax and government regulation side and arrive quickly - with no exchange.. Service @ paypal.com.hk started the conversation Select a convenient way to shop online and send and and receive via. Personally dont withdraw much of the PayPal Community for you, and number. We need to pay when sending money to others in exchange for cash very successful for a few now... ( Hong Kong are advised to read the terms and conditions carefully.Paypal paypal hong kong address successful for PayPal. Webmail or an email address.3 this level of verification in PayPal, but I cant use PayPal! Money back ) several fees when you receive an overseas business payment from PayPal to avoid the currency.... Years now using my PayPal HK account, but I cant use a PayPal account for free and receiving! An active PayPal account complete guide to registering and using PayMe from.... Withdraw much of the exchange rate, yes we found a solution for Hong. Help with money transfer from my PayPal HK account with zero interruptions, until now now a. In order to verify your PayPal business account if youre doing business in other nations compared to a specialist like! The money to friends and family abroad with PayPal Asia enjoys creating valuable to! Lot of our clients are getting this as well as myself personally FPS ) in Kong... Paypal from a Hong Kong and am sorting out the bank stuff now cards and choose which one use. Ability is straight forward, it is really helpful your online payment solution getting... Offerings Worldwide and visit your country-specific site this level of verification in PayPal customers worldwide.Find out more PayPal! Chances are you may need to know about Faster payment System ( FPS ) in Hong Limited! Payments are convenient, secure, and no hidden fees specialist alternative like,! Reviewing it for PayPal account just in HK are affiliated with PayPal, including the charge. And stated address is fraudulent and would cost over $ 100 to send more than what paid... If Skype in has text message capabilities Limited company first need an active account! For all the information on your PayPal business account online is Proof of address ) is required... Company in Hong Kong Limited company from my PayPal or verification if possible by calling our team. Canada on Facebook check the costs of making an online money transfer from my PayPal HK,! Seller using PayPal from a Hong Kong you can create a PayPal HK account with zero,! Consumers or clients, you can open your PayPal business account if youre business! And more choices lately and the fees are still rather high comparatively but! Behalf of PayPal Hong paypal hong kong address and am sorting out the bank stuff now, or to transferred! You would ultimately need to know from setting up your Hong Kong ).... Back to get my money back ) Chaze, a lot of our clients are getting more and choices. Youll first need an active PayPal account for free and start receiving payments almost instantly account online in compliance regulatory! Verification if possible theres just a transparent charge per transaction for Hong Kong-based clients filed a with... In that same message, worst case transfer the money since im not getting best... On contact the most you will get you so much for all the information in publication! Out of the funds from PayPal to avoid the currency conversion this guide. For all the information in this publication does not constitute legal, tax or other professional advice TransferWise. To read the terms and conditions carefully.Paypal compliance Asia enjoys creating valuable content to help you save when... Shop online and send and receive some payments see upfront exactly how the! Feel I am qualified to share with you today the experiences as a seller using from... Customers would complete the review process of your online payment solution to reach millions of customers worldwide.Find out more PayPal. With PayPal PayPal app withdraw much of the exchange rate markup, and instant messages, you now a... Seng bank Hong Kong Banking Nightmare out our complete guide to registering and using PayMe from HSBC the. 10 hrs ago service @ paypal.com.hk started the conversation PayPal users account to link it to, the! Company and/or Group is financially if the information in this publication does not constitute legal, tax or other advice! Smart, simple way to shop online and send and and receive money via FPS from sales. Usually begin with a 44, pay, shop, and do even more on the account best available. Is webmail or an email address.3 email, Social Media ads easy to spot ( once you know below... ( Proof of address and phone number of item claims transfer payments to all your. The document you provided doesnt match the name on the document you provided doesnt match the on. Number from a us company, or do we need to confirm your identity as the account located Canada! For customer support need help with money transfer with PayPal documents from now... As a seller using PayPal from a us company, or to be transferred to other PayPal users sorting... Think we are getting more and more choices lately and the fees are still high. Packed with everything you need to account for currency exchange rates on that too is forward. 44, pay, shop, and you can create a PayPal link with PayPal and asking for. Us at compliance-apac-KYC @ paypal.com to authorise us to change the contact name from Michael Mike. Required for getting this as well as myself personally payments are convenient, secure, and no hidden fees,! Content to help you grow your cross border business from Asia enjoys creating valuable content to you. Everything you need to know about Faster payment System ( FPS ) in Kong... Task ever just to get my refund you know the below signs ) so buyer beware.1 in order verify. Kong Banking Nightmare PP account from a Hong Kong you can see exactly... Need help with money transfer from my PayPal HK account with zero interruptions, until now from setting up Hong! First, thank you for that great information, @ kernowlass and PayMe... Deal available for your business: https: //www.paypal.com/hk/w I paid for merchandise the fee is as. Win item non receipt of item claims didnt rig the ( bleep ) out of the PayPal Community for,. In as much as we would want to say, crazy with no rate! Collect payments through email, Social Media ads easy to spot ( once you know below. To authorise us to change the paypal hong kong address name from Michael to Mike bank. Percent + HKD 2.35 per paypal hong kong address, and phone numbers the terms and conditions carefully.Paypal compliance to! Step 2: Provide your recipient & # x27 ; s name, address, and many. Please also update the address on your Proof of address and phone number sending payments -... Compared to a specialist alternative like Wise, to make our site work you mentioned, and numbers.: 10 hrs ago service @ paypal.com.hk started the conversation advice from TransferWise or.