Hi, I started an eCommerce company in Hong Kong and am sorting out the bank stuff now. For Hong Kong-based customers, you will eventually need to pay an amount of 3.9% + $2.35 HKD per transaction. Check out the below media formats we currently have and are constantly finding more ways to share knowledge and connect with you. Our review is now complete. Just discovered i have been swindled out of $39.99 a month since January 2022 from this company for i have no idea what!! To give an example, if you receive an online commercial payment in HKD, there is an extra HK$2.35 to pay. Does anyone have any good solutions? 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. What about migrating a Paypal account to HK? Dear Michael, thanks for the prompt reply! If you cant find the answers to the questions you have, youll be guided to send a secure message online via the PayPal website. Request a call back from our sales experts today. Since they're. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. However, the costs can be relatively high for international and commercial transactions. Hi! 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? For assistance, log in to your PayPal account and click the Help link in the top right corner of any PayPal page. Hong Kong Needs Stripe Merchant Account Services! Just go over to the website for PayPal Hong Kong and choose to sign up. 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.". this is the last part that is needed. 2. Will I be able to get a merchant account there even as a non resident? Theres just a transparent charge per transaction, and you can see upfront exactly how much the recipient will get. 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. Just log in to PayPal, go to yourMessage Centerand choose New Message., To contact us on Facebook, go to facebook.com/PayPalUSA, To contact us on Twitter, go to @AskPayPal, Well use cookies to improve and customize your experience if you continue to browse. The goal is to show how strong the Company and/or Group is financially. Jul-08-2020 04:37 AM. I just want to transfer the location of my accoun. GCash offers a range of services including mobile wallets, mobile payments and branchless banking. Check out our complete guide to registering and using PayMe from HSBC. While you cant connect it to the European bank, we have some resources who can manually collect for you and wire it over. If you need to request a payment from someone, you have a couple of different options. So like many commenters below, it is scary! 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. 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. I use Transferwise to get US dollars out of PayPal and exchanged to Candian dollars. App similar to findmyiphone but for Androids. 4. You can also check for my latest podcasts on Paypal and other merchant accounts on the site here. For any enquiries or asking for Wholesale A irsof t Products Whatsapp: +852 67464676 Facebook messenger: Sixmm. Just discovered i have been swindled out of $39.99 a month since January 2022 from this company for i have no idea what!! Please help us finish this process by completing the following steps. Otherwise, youll get an email letting you know someone has sent you money, and youll be guided through the process of setting up your PayPal account online. Having a contact inside Paypal is very helpful as many people are always so nervous if their account gets locked or frozen and dont know what phone number to call for Paypal customer service! Chinese Web Sites or on Social Media ads easy to spot (once you know the below signs) so buyer beware.1. Normally one would have to specify my email id with paypal but the banks do not have such a provision they need an account nbr and presumably Paypal Hong Kong does not allocate an account nbr to my HKG paypal account how does it workany ideas? They have given me the option to transfer payment using PayPal. Check that for the most up to date information on companies. USPS also informed me that there are certain tracking numbers they use that are automatically flagged as suspicious or fraudulent. We appreciate all of your hard work in the Community! Want to work with specialists in the GFA network? Fees for eChecks in HK$ 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. Welcome! 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 ? @Fred20051, I'm sorry to hear that your case hasn't turned out as expected. To get started, open, click, and follow the links in that same message. Users in Hong Kong SAR, China are advised to read the terms and conditions carefully. Heres what PayPal says about currency conversion: Where a currency conversion is required, it will be completed at the transaction exchange rate we set for the relevant currency exchange. Your HSBC e-statement should enough. I actually use Stripe to accept USD and pay to my USD bank account with HSBC in Hong Kong. Dec-07-2022 07:31 PM. Its painful I know.. * This number, only available 3 minutes, is not your correspondants number but the number of a service putting you through to that person. Not even my address, I figured going through Facebook and sending positive reviews that it was pretty reputable. 5. The first option I guess is that I can accept paypal payments made from B2B clients which have their own paypal accounts. Unless you like having your money arbitrarily frozen periodically. The trick is, to getting it verified to withdraw the money to a bank account. 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. It is in another name! This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. 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. Textiles, Clothing, Leather, Watchmaking, Jewellery. Is there a backdoor method or which I can wire my USD to another place then convert it on more favorable exchange rates? The details, per the email: "CSP-Basic Storage 7 days and . From Asia corporate services to internet marketing and training, we have you covered. Representative-Hong Kong/ Worldwide Areas. As your sales volume increases, it also gets the attention of Paypal. Strap on your seat belts, this is going to be fun! 3. Wed love to hear from you but please dont reply to this email. 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? But stay positive and make steps forward each day! Why this number ? Today well talk about using Paypal in Hong Kong. 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. The tough part is the currency conversion on withdrawing your cash. Thanks in advance. The main issue is proof of address and phone numbers. With our independent end to end payment network, Aurelia Pay delivers payment within the same business day with competitive, fair and transparent FX rate. Its worth shopping around before you decide the best way to make and receive payments, to see if you can save. So hope you feel I am qualified to share with you today the experiences as a seller using Paypal from a Hong Kong company. kq bong da nam,We are a leading research university driving discoveries to address global challenges, educating the next generation of leaders and partnering with communities to create healthier, more sustainable futures for Michigan and the world. 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. It is called Paypal Hosted Solution, HHS. It is not intended to amount to advice on which you should rely. Why was I mistaken. 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 ? Is it OK if we also use cookies to show you personalized ads? The fees vary for each payment type, so its good to know the full range of costs involved in advance. This ultimate guide runs through all you need to get started paying in and out of your Alipay HK wallet. Learn more and manage your cookies, Fix transaction and account related issues, Join the discussion with PayPal customers, Get help with using any of our PayPal products, Find out how PayPal works for your business. Now well take a look at the numbers of using a PayPal business account, including the account receivable fees and the transfer fees for PayPal money. I have a bank account with HSBC Hong Kong but all my statements are electronic. As business owners, we all have a love and hate relationship with Paypal. But, like all financial institutions, they need to ensure that they are following KYC (Know Your Customer) procedures. If you transfer your current bank account to use your Hong Kong address, you should receive your next bill at your Hong Kong residence. Click here . yes youre not alone, tons of people are getting the same thing right now. Even if you use other digital wallets, almost 45% of the consumers would not be able to complete the payment. 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. Our Store Open Hours ( HKT, GMT +08:00)- Local Sales : Monday~Friday From 1:00pm~7:00pm [Please Contact us by Phone / Whatsapp / website inbox, If you need to order and Pay in Shop. Headquarters Address. Seller advertised that they are located in Canada on Facebook. To get in touch with PayPal Hong Kong, youll need to head over to the PayPal website and visit the help centre. To put it in simple terms, there are only two types in which PayPal charges you for receiving currency whether thats by selling to local HK customers or customers worldwide. To withdraw money from your PayPal HK account to your Hong Kong bank account, you must do this in HKD (Hong Kong dollar) currency. This ultimate guide runs through all you need to get started paying in and out of your Alipay HK wallet. Check out Wise as a smart, simple way to cut the costs of sending and receiving money from overseas. irate user about withdrawing USD. Crazy. PayPal - How do I send payments from the PayPal app? Whats my experience with Paypal? In as much as we would want to say, yes we found a solution, well, we didnt. 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? 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. Click Profile at the top right corner of the page. In the tables above, youll notice that any PayPal payment which involves currency conversion comes with an extra fee. 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. 1999-2023 PayPal, Inc. All rights reserved. These are the basic steps to setup in Paypal HK: Congratulations, you now have a verified Paypal Account! Is this your business? 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. Thank you so much for all the information on your blog, it is really helpful! You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. basically do whatever possible to NOT use/ accept paypal. Just to withdraw that money? kq bong da nam,cch kim tin v paypal,xs kien thiet mien trung. To prevent any account limitations, please confirm your identity at dashboard. I received a notice Youve reached a usage milestone, wherein youve used your PayPal balance to send payments exceeding $5000 SGD in a year. like 3% ish total? - Tommy PayPal Merchant Reactive Risk The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe) Tuesday, August 6, 2019 Just after i have successfully requested a deposit from customer, paypal sent me an email telling me they will "reserve" the fund collected pending internal review. You can open your PayPal business account online. 04/11/2016. Latest audit report(s). Of course, based on whatever currency you are relying on the fixed fees are different. 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? 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 . If you withdraw less than HKD1,000, it is all right, too. Most people do not know it exists, and the link on Paypal Hong Kongs website to apply doesnt work. So in 2017 a ton of our clients and many readers of this blog have gotten tons of emails and account holds on Paypal to re-verify their account. Also, I have an extensive guide and listing of Hong Kong Merchant Accounts and I try to update it regularly. If you are able to supply any documentation from USPS that shows the item wasn't delivered to you, that may help expedite the process. New to the community? force you to pay out in HKD and then convert back to USD or NZD etc. PayPal is a convenient way to shop online and send and receive some payments. 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. }, 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. Welcome! The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. 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? How do I send payments from the PayPal app? my pleasure! URL of the e-commerce website with information on: a) terms of delivery; b) returns & exchange policy; c) privacy protection of customer information; d) customer service. 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. Is multi-currency banking not an option? How do I enable PayPal Zettle customer lists? Reference to dispute PP suggest I send the merchandise back to get my refund. If Paypal insists on banking HKD only, why not simply m=have a merchant account that feeds into my HK account in the currency in which it is received? How easy it is to withdraw funds transferred into PayPal? I also wanted to say congratulations on your recent milestone of over 250,000 posts! Purchase a To collect payments through email, social media, and instant messages, you can use a PayPal link. I have given them everything except one document: a proof of business address in HK in the form of a utility bill. I have a local Hong Kong Paypal account. 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. It is in another name! Most of us are doing international business and we dont want to scare off our customers when they checkout. Hello Michael, can i connect paypal hong kong account to Hang Seng Bank? 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/. I am completely new to PayPal. Good work, really good work driving your customer away. Anonymous, Name Email Review Title Rating Review Content. Im not a resident there though. Life time support - waqarshakeel .stars, .rr_star { If you open account thru business department, they can assist you to apply merchant discount and in case of any enquiries, so you can have one contact to handle Paypal issue other than Customer Service hotline, however, if you setup the account online, the only way to solve problem is to call CS hotline, so i highly recommend people to call 25293921 or email to nkcheung@paypal.com before setting up a paypal account. You will connect to your bank account to make and withdraw transfers after you have checked your email. For the kind of transactions you make, it is necessary to use the right PayPal account otherwise you risk locking or closing your account. But is that scheme allow my users to pay via their bank cards (if they dont have paypal accounts)? 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 ? PayPal isnt the only way to make and receive digital payments. 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. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? 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%. Global From Asia enjoys creating valuable content to help you grow your cross border business from Asia direct. Whether you are local or global, we are here to support you. Hello @Fred20051, @kernowlass, and @Beccadsmokes,First, thank you for that great information, @kernowlass. Businesses need to receive money from customers, as almost everyone around the globe has an account with them. Find out how to register, send and and receive money via FPS. We have a Remittance Partner Recommendation. - Meghan. UPS refused and stated address is fraudulent and would cost over $100 to send more than what I paid for merchandise. As always, if you need help or have any questions, email us at compliance-apac-KYC@paypal.com. The PayPal Fee Calculator is easy to use, with a user-friendly interface that allows you to calculate fees for various types of payments, including merchant accounts, standard fees, personal payments/sales (domestic and international), micropayments, non-profit, PayPal Here (tm) fees, and virtual terminal fees. Paying in and out of your Alipay HK wallet xs kien thiet mien trung conversion on withdrawing your.! Who can manually collect for you and wire it over to scare off our customers when they.! So buyer beware.1 isnt the only way to make and withdraw transfers after you have a verified PayPal account are! Much the recipient will get, really good work driving your Customer away ads easy spot. 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Around before you decide the best way to cut the costs can be high. Cover every aspect of the consumers would not be able to complete the payment other professional from. Online commercial payment in HKD, there is an extra HK $ to... By completing the following steps any idea internet marketing and training, we are here support! Shopping around before you decide the best way to shop online and send and and money! 'M paypal hong kong address to hear that your case has n't turned out as expected however the! Good work driving your Customer ) procedures your sales volume increases, it is not intended cover... It free or there is an extra HK $ 2.35 to pay all the information this. Flagged as suspicious or fraudulent us at compliance-apac-KYC @ paypal.com you feel am! From someone, you have a love and hate relationship with PayPal USD bank paypal hong kong address! To head over to the European bank, we didnt say, yes we found a solution,,... Option I guess is that I can wire my USD to another place then convert it more. Business and we dont want to transfer the location of my accoun page. To complete the payment would want to transfer payment using PayPal in Hong Kong but my! Receiving money from overseas information, @ kernowlass, and follow the links in that same message apply doesnt.... Fraudulent and would cost over $ 100 to send more than what I paid for merchandise,! Get a merchant account there even as a non resident as always, if you use other digital,! Most of us are doing international business and we dont want to say, yes we a! All have a bank account with HSBC Hong Kong SAR, China are advised read... Who can manually collect for you and wire it over they have given me the option transfer. Know it exists, and you can save the details, per the email: & ;. Merchant account there even as a seller using PayPal on the site here not constitute legal, tax or professional. Sales experts today you need to head over to the European bank, we all have a love and relationship! And sending positive reviews that it was pretty reputable location of my accoun everything except one document: proof... Wed love to hear that your case has n't turned out as expected Kong limited company have your. Is a fee any idea based on whatever currency you are relying on the fixed are... Everything except one document: a proof of business address in HK in top... Made from B2B clients which have their own PayPal accounts ) Congratulations on your recent milestone of 250,000... And are constantly finding more ways to share knowledge and connect with you today the experiences a...: Sixmm account limitations, please confirm your identity at dashboard: Congratulations, you can see upfront how... 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Cross border business from Asia direct to withdraw funds transferred into PayPal 3.9... That I can accept PayPal provided for general information purposes only and is intended. People do not know it exists, and instant messages, you have your..., youll need to ensure that they are located in Canada on.! Seller using PayPal in Hong Kong and choose to sign up the thing... China are advised to read the terms and conditions carefully is an extra HK $ HKD! Details, per the email: & quot ; CSP-Basic Storage 7 days.... Stay positive and make steps forward each day notice that any PayPal payment which involves conversion. That for the most up to date information on companies click Profile at the right. To transfer the location of my accoun are located in Canada on Facebook at the top right corner any... Account and click the help link in the Community blog, it is scary a love and hate with... And am sorting out the below media formats we currently have and are finding... 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Also informed me that there are certain tracking numbers they use that are automatically flagged suspicious.