It is linked to Hang Seng Bank Hong Kong..all in HKD. This service is $30 USD per month fixed cost in addition to the processing rates. just greedy number. I actually use Stripe to accept USD and pay to my USD bank account with HSBC in Hong Kong. When you make a business payment overseas, there are different costs - some of which are covered by the recipient. Address: Level 29, Three Pacific Place, 1 Queen's Road East, Wanchai, Hong Kong (Note: The licensee is formerly known as Money Data Limited.) To withdraw money from your PayPal HK account to your Hong Kong bank account, you must do this in HKD (Hong Kong dollar) currency. Heres a run down by PayPal account type. In the meantime, you can still open and operate with a Paypal HK account. This is a small charge set according to currency. Will I be able to get a merchant account there even as a non resident? These charges apply to personal and commercial PayPal accounts, and are applied whenever currency conversion happens, including when you withdraw funds to your own bank account or switch currencies within your PayPal account. SVF0008. You can use PayPal to send and receive international payments from all around the world. Just discovered i have been swindled out of $39.99 a month since January 2022 from this company for i have no idea what!! Is multi-currency banking not an option? I have given them everything except one document: a proof of business address in HK in the form of a utility bill. I believe this is only for payments coming from YOU not for payments from 3rd parties. They have given me the option to transfer payment using PayPal. They may likely reject the payment. Hi! 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. The fee is, as you say, crazy. Step 2: Provide your recipient's name, address, and phone number. How easy it is to withdraw funds transferred into PayPal? Converting to HKD would be fine if paypal didnt rig the (bleep) out of the exchange rate. Activity, company ), Click on one of the icons to share the company. But, like all financial institutions, they need to ensure that they are following KYC (Know Your Customer) procedures. How is your experience using Paypal in the Hong Kong business market? Fraudulent- Hong Kong. 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. USPS also informed me that there are certain tracking numbers they use that are automatically flagged as suspicious or fraudulent. The last thing I need, however, is to now continue doing free withdrawals and then in 12 months have paypal telling me theyre going to collect several thousand dollars in withdrawal fees for my withdrawals over the last 12 months. Company directory and business data solutions. I have filed a case with Paypal and they are reviewing it. Withdrawing money to local bank HKD account is generally free, unless you transfer less than HK . 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. This is because they do not want to make it too difficult for you to get started selling on Paypal in your early days. Youve already completed the following actions as part of our review: Weve received acceptable copies of the following documents or information: -> Identification document -> Proof of business address document -> Business registration certificate -> Letter of authorisation -> List of the beneficial owners and office bearers of your business -> Identification documents of the benficial owners. The tough part is the currency conversion on withdrawing your cash. Dont know who you are but why yall talking money out my account, Pay, shop, and do even more on the PayPal app. Check if you had a subscription set up.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. Its worth noting that there may be fees to pay - either by the sender or the recipient - for PayPal money transfers. 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? 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. 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. Thanks in advance. To prevent any account limitations, please confirm your identity at dashboard. 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. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. Explore PayPal for Business Speak to a Expert Find out more about PayPal for Business by calling our sales team, +852-3550-8584 Monday-Fridays from 9:00AM to 6:00PM * Request a callback Prefer us to call you? I have a HANG SENG BANK account. Hello @Fred20051, @kernowlass, and @Beccadsmokes,First, thank you for that great information, @kernowlass. You can also keep earning rewards from your favourite cards^.Link A Card Now, Shop online with confidence with 24/7 fraud monitoring, PayPal Buyer Protection# on eligible purchases on us. 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). 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? PayPal Pay in 4 is provided to Australian residents and is subject to eligibility criteria and credit application. This ultimate guide covers all you need to know about Faster Payment System (FPS) in Hong Kong. GCash offers a range of services including mobile wallets, mobile payments and branchless banking. Learn more here. 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 HK PayPal account, but I cant use a mobile number from a different country on the account. 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. Topup from paypal account should be no problem. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? The fees vary for each payment type, so its good to know the full range of costs involved in advance. Pretty scary right! To get in touch with PayPal Hong Kong, youll need to head over to the PayPal website and visit the help centre. They dont need Paypal in order to pay you the problem will be when you want to get the cash out of Paypal. 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. Login to connect to Kompass solutions or register to discover all our services. If you need to reach us, simply click Help on any PayPal page. Hi Audrey, some use Twilio phone numbers or other online number solutions. With 61% of survey respondents expecting a recovery by the end of the year, 86% are already seeking to capitalize on the opportunity by improving . Legal Address. I also wanted to say congratulations on your recent milestone of over 250,000 posts! Shopping online has never been this easy. To send and receive safe messages, you can log into your PayPal account, or find answers to popular questions in the FAQ section. To transfer payments to all of your consumers or clients, you do not even need a PayPal balance. just greedy number. China - Mainland, Hong Kong, Macao, Taiwan regions; . So like many commenters below, it is scary! Well walk through the features, fees and limits of the TNG Wallet and TNG Wallet Mastercard. 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. Kindly checkout this link for our contact information: https://www.globalfromasia.com/contact/. Its worth shopping around before you decide the best way to make and receive payments, to see if you can save. How to stop this scam: HONG KONG SOOUYA TECHNOLOGY LIMITED. Our answer? 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. If you need to send or receive an international payment online you could be better off using a specialist service like Wise. Representative-Hong Kong/ Worldwide Areas. The details, per the email: "CSP-Basic Storage 7 days and . The currency conversion rate is extremely bad at ~2.5%. 3. Check out our complete guide to registering and using PayMe from HSBC. By browsing this website, you consent to the use of cookies. Introducing Neat - Online HK Business Banking & Connect Your Paypal/Stripe, The Story of Neat Hk Developing in Hong Kong to Help the Banking Market with David Rosa and Igor Wos, Neat HK: A Solution for the Hong Kong Banking Nightmare? 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. For applying Website Payments Pro Hosted Solution (HSS), you need to get in touch with a Paypal Hong Kong representative through the contact forms. Around 200 million people have a PayPal account. This ultimate guide covers all you need to know about Faster Payment System (FPS) in Hong Kong. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. Good work, really good work driving your customer away. Someone asked me and its true you dont see too clearly your own profile. Why this number ? 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. The fee will always be mentioned upon withdrawal. We found no other way to bargain with Paypal. if you click on contact the most you will get is webmail or an email address.3. Luckily, there are more and more choices lately and the fees are still rather high comparatively speaking but coming down. 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. Room 1506-07, 15/F, Central Plaza 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. A small charge set according to currency in 4 is provided to Australian residents and is subject eligibility... 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