Our review is complete and we have returned your account to regular standing. There is a processing fee, which is a percentage of the sales amount, and a minor currency-based fixed fee. I hope everyone has a wonderful weekend! Choose the issue that most closely matches your reason for contacting us. Will I be able to get a merchant account there even as a non resident? This service is produced by Kompass. It is not intended to amount to advice on which you should rely. Of course Paypal wants you to grow and succeed, that means they are making more money too! But requested that merchandise be send to Kong Hong. They should be trusted counter parties, well, actually they are taking the big risk. We appreciate your patience and thank you for your help in making PayPal the safest and most trusted online payment solution. 3. 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. Subject: Your identity confirmation is now complete. Now its your turn to share what is your rating for Paypal Hong Kong. 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. Theres just a transparent charge per transaction, and you can see upfront exactly how much the recipient will get. Could you please advice can I accept PayPal/bank card payments from my B2B customers (worldwide) if: my business incorporated in Hong Kong, but business bank account opened in Switzerland bank ? RD Wallet Technologies Limited. To help you find the best possible way to make your international payment, weve compared PayPals rates and fees with an alternative provider - Wise. Kindly checkout this link for our contact information: https://www.globalfromasia.com/contact/. Youll pay several fees when you receive an overseas business payment from PayPal. Tags: banking, guide, hong kong, merchant account. It is something I am asked quite a bit and am happy to be sharing with everyone to get rid of the worry and hesitations of setting up a company in Hong Kong. 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 for business The world is your shopping mall From big brands to boutique stores, you can shop securely at over millions of online stores with PayPal. 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. Hello Michael, can i connect paypal hong kong account to Hang Seng Bank? Do you see any way around this fee? A Solution for the Hong Kong Banking Nightmare? Find out how to register, send and and receive money via FPS. Whether you are local or global, we are here to support you. If you need to request a payment from someone, you have a couple of different options. 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. Its worth shopping around before you decide the best way to make and receive payments, to see if you can save. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. I have a local Hong Kong Paypal account. Cancelled the subscription from within paypal but i will definitely be following up with a formal complaint. We appreciate your patience and thank you for making PayPal the better choice for sending and receiving payments.Paypal Compliance. If you need to send or receive an international payment online you could be better off using a specialist service like Wise. Today well talk about using Paypal in Hong Kong. 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. As we know, getting a bank account in Hong Kong has been troublesome. Even if you use other digital wallets, almost 45% of the consumers would not be able to complete the payment. Open, click and follow the links in this message to get started. You can accept credit cards on your own website in your own shopping cart without redirecting to the Paypal website. This is because they do not want to make it too difficult for you to get started selling on Paypal in your early days. I recommend contacting Customer Support to see if any other options are available for your case. @Fred20051, I'm sorry to hear that your case hasn't turned out as expected. Wan Chai Hong Kong. The currency conversion rate is extremely bad at ~2.5%. For assistance, log in to your PayPal account and click the Help link in the top right corner of any PayPal page. WHO ARE THESE PEOPLE AND WHY IS THIS HAPPENING? 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. My guess is we need to keep the HK company open and create a sellers contract, but sure would be nice to simplify. Shopping online has never been this easy. Ok, but seller want it sent to Hong Kong. From setup, to banking, credit cards, merchant accounts, cash flow, upkeep, operations, and more! so my account does not interrupted ??????? . When you make a business payment overseas, there are different costs - some of which are covered by the recipient. Rarely company address information.4. 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? Address: Room 1506-1507, 15/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. Check out our complete guide to registering and using PayMe from HSBC. 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. 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. 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. 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/. 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 ? (The documentation does not need to show the address where the item was actually sent. I have been very successful for a few years now using my Paypal HK Account with zero interruptions, until now. Seller advertised that they are located in Canada on Facebook. WeChat Pay Hong Kong Limited. <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 . The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. For Hong Kong-based customers, you will eventually need to pay an amount of 3.9% + $2.35 HKD per transaction. The form requires me to have me to identify my address as well an Id card with signature. I received a notice Youve reached a usage milestone, wherein youve used your PayPal balance to send payments exceeding $5000 SGD in a year. We appreciate all of your hard work in the Community! For general country-specific offerings and limitations, see PayPal Offerings Worldwide and visit your country-specific site. I will look into Twilio though as it wasnt the one I was looking at. 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. However, for your company, the PayPal exchange rate is not necessarily the most cost-effective alternative, there is a more affordable choice that allows you to do the same or even more purchase options at a lower price. This ultimate guide runs through all you need to get started paying in and out of your Alipay HK wallet. But all funds coming in will be converted to HKD automatically. 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. Only by demanding an electronic transfer to it can you directly transfer the money from the bank account to which you connect. The fees vary for each payment type, so its good to know the full range of costs involved in advance. 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 service is $30 USD per month fixed cost in addition to the processing rates. Over 80% of surveyed SMBs embrace digital to grow cross-border selling. In the meantime, you can still open and operate with a Paypal HK account. You can create a PayPal account for free and start receiving payments almost instantly. 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. 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. 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. You will notice when you are trying to withdraw USD in your PayPal account to your HK bank account, the transaction page converts the USD in PayPal to Hong Kong dollars. Its true, just like the credit card issue it is a waste of money. The merchant account). So we will most likely need to charge in USD. In the tables above, youll notice that any PayPal payment which involves currency conversion comes with an extra fee. They may likely reject the payment. Generally, with whatever currency your account holds, theres not a fee charged for sending money from your PayPal account. You would ultimately need to pay a sum of 3.9 percent + HKD 2.35 per transaction for Hong Kong-based clients. 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. How can I get that knowing that I dont have a real office in HK ? The past year and change has been a lot of challenges for all of us. Hong Kong Needs Stripe Merchant Account Services! But we all know it is a necessary service. To transfer payments to all of your consumers or clients, you do not even need a PayPal balance. It could be that the error is shown only at some times, or that the error is not shown all of the required times. Life time support - waqarshakeel .stars, .rr_star { Request a call back from our sales experts today. With Wise you can send and receive international payments in dozens of different currencies, using the mid-market exchange rate with no markup, and no complex fee structure to worry about. Check out AureliaPay now! What kind of customer support do PayPal Cashback Mastercard and PayPal Smart Connect provide? So, in the PayPal account, your clients can easily pay and you can even accept payments from other marketplaces, including Amazon and others. The reason you get this is it is a true merchant account. You can add USD bank accounts to HK Paypal, and withdraw at Xero fee. Latest audit report(s). RFU form (Application form they will attach). The fee will always be mentioned upon withdrawal. (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! The REST APIs support many countries for PayPal account payments if you have a business account. Use the funds for your operating expenses on hosting, services, and other items. 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. Its painful I know.. 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. No surprises and no hidden costs. To withdraw money from your PayPal HK account to your Hong Kong bank account, you must do this in HKD (Hong Kong dollar) currency. Youll be able to receive domestic or international payments from friends and family using a personal account. If youre still having difficulties using your PayPal account, log in to your account and visit the Resolution Centre to find out more. Contributor. Lets talk about a few options: One solution in this situation is to set the primary currency of your PayPal account to HKD, the same currency as your bank account. 2.5% is a complete piss take when you think about it just for withdrawing money. Contact PayPal for answers to all of your online payment questions or to sign up for our services! 2. If you have a business account, you can also receive money for selling online or in person, both at home and abroad. 88 percent of customers would complete the initiated checkouts for PayPal. 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. irate user about withdrawing USD. Another solution is try to not withdraw any. Any specific info youll need to enter include: You will then get an email with confirmation. Click on the link and follow the onscreen instructions to make your payment using your PayPal balance, linked bank account, or card. It is in another name! Google and you can often see previous company names as they change them once enough claims roll in and Paypal stop them using their services and start over.7. 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. China - Mainland, Hong Kong, Macao, Taiwan regions; . New to the community? Dont know who you are but why yall talking money out my account, Pay, shop, and do even more on the PayPal app. Prior results do not guarantee a similar outcome. The level of verification you get through this process, is it ok to handle roughly 5 to 10k per month on it? Wed love to hear from you but please dont reply to this email. Click Profile and settings. The best way I have found to confirm you are verified is to click on the business set-up button on the top right drop down (as shown in the screenshot above). anyone overcome this crazy conversion rates? 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. Hello @Fred20051, @kernowlass, and @Beccadsmokes,First, thank you for that great information, @kernowlass. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. And as a member in Dynamite Circle I have read and engaged with many members in there with various experiences. As well as paying a transaction charge, there is a fixed fee charged for receiving most commercial payments. PayPal isnt the only way to make and receive digital payments. It is called Paypal Hosted Solution, HHS. 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 . Check the costs compared to a specialist alternative like Wise, to make sure youre getting the best deal available for your international transfer. 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. Businesses need to receive money from customers, as almost everyone around the globe has an account with them. Send fake tracking numbers to win item non receipt of item claims. Welcome! Heres how to edit your address: 1. From my experience the quick answer is No. Well walk through the features, fees and limits of the TNG Wallet and TNG Wallet Mastercard. Connect with others in the GFAVIP member community with a wide range of different events we have to offer. Want to work with specialists in the GFA network? By browsing this website, you consent to the use of cookies. But PayPal isnt the only way to make and receive digital payments. Your HSBC e-statement should enough. Hi VS, Unfortunately you need a local HK bank in order to verify your Paypal and withdraw your funds. 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. 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. Also, I have an extensive guide and listing of Hong Kong Merchant Accounts and I try to update it regularly. very cool tip thanks for that Cherry! App similar to findmyiphone but for Androids. 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. The PayPal REST APIs support these countries: 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. What payment methods can I use with PayPal? But, youre not alone. Where it all began! 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. 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. Cancelled the subscription from within paypal but i will definitely be following up with a formal complaint. The trick is, to getting it verified to withdraw the money to a bank account. Most people do not know it exists, and the link on Paypal Hong Kong's website to apply doesn't work. For a phone number, try a Skype IN number for like 25 usd every 3 months and it can forward. UPS refused and stated address is fraudulent and would cost over $100 to send more than what I paid for merchandise. 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. The main issue is proof of address and phone numbers. I actually use Stripe to accept USD and pay to my USD bank account with HSBC in Hong Kong. I have a Hong Kong company but currently living in Ukraine. Prior results do not guarantee a similar outcome. PayPal - How do I send payments from the PayPal app? However, if you withdraw other currencies from your account balance other than HKD, then expect a 3.00% withdrawal charge to come your way for that. I have a HANG SENG BANK account. and got this email: 10 hrs ago service@paypal.com.hk started the conversation. How to stop this scam: HONG KONG SOOUYA TECHNOLOGY LIMITED. Sorry you mentioned this in your article. New and existing customers looking for set up, technical and account support. 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. But if the customers are worldwide, then you will be paid 4.4% + fixed rates. But as you grow they will need to background check everything. This is a small charge set according to currency. So, I hope this article on Paypal can help you! 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 Enoch, The only way I know is to send as a friend payment to someone else who has a USD denominated account. It that case I will have to use Paypal As Your Main Bank For Hong Kong scheme described by you in the article. Tap Message Center . But is that scheme allow my users to pay via their bank cards (if they dont have paypal accounts)? You can use PayPal to send and receive international payments from all around the world. Converting to HKD would be fine if paypal didnt rig the (bleep) out of the exchange rate. For applying Website Payments Pro Hosted Solution (HSS), you need to get in touch with a Paypal Hong Kong representative through the contact forms. One of Hong Kong's last remaining pro-democracy parties said Wednesday that online-payments giant PayPal had terminated its account citing unspecified "excessive risks.". 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. Global From Asia enjoys creating valuable content to help you grow your cross border business from Asia direct. 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.
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