Unless you like having your money arbitrarily frozen periodically. 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. You would ultimately need to pay a sum of 3.9 percent + HKD 2.35 per transaction for Hong Kong-based clients. App similar to findmyiphone but for Androids. Tap Message Center . Is it free or there is a fee any idea? Subscribe to our emails So like many commenters below, it is scary! Youll first be guided through these to try to find the answers to your questions independently. But, like all financial institutions, they need to ensure that they are following KYC (Know Your Customer) procedures. Room 1506-07, 15/F, Central Plaza Another solution is try to not withdraw any. 5. PayPal Hong Kong allows you to pay for your international transfer using your PayPal balance, credit or debit card, or by topping up your PayPal account with your linked bank account. Thats annoying as Id be exchanging twice which seems like such a waste of money. It is in another name! Well look at this in more detail later. (Hardest time/ task ever just to get my money back). How to sign up for a PayPal business account in Hong Kong You can open your PayPal business account online. Find the address you want to update and click Edit. Please read our Community Rules and Guidelines, Pay, shop, and do even more on the PayPal appGet the App. You can also check for my latest podcasts on Paypal and other merchant accounts on the site here. 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. Almost every business that has any online presence has PayPal. Please do not reply to this email. 04/11/2016. It is a hot topic that people want to connect their Paypal Hong Kong to non-Hong Kong banks. Open, click and follow the links in this message to get started. I actually use Stripe to accept USD and pay to my USD bank account with HSBC in Hong Kong. WeChat Pay Hong Kong Limited. The goal is to show how strong the Company and/or Group is financially. 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. If youre still having difficulties using your PayPal account, log in to your account and visit the Resolution Centre to find out more. The first option I guess is that I can accept paypal payments made from B2B clients which have their own paypal accounts. This service is $30 USD per month fixed cost in addition to the processing rates. I got the automated email titled "You sent an automatic payment to <removed>. 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. Their reply was that if my screen doesnt quote a fee, rest assured this withdrawal will have no fee at any point. 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. Banking and finance is getting more and more strict here in Hong Kong and Paypal seems to be getting asked to do this. This mailbox is not monitored and you will not receive a response. Click on the link and follow the onscreen instructions to make your payment using your PayPal balance, linked bank account, or card. Why this number ? Prefer us to call you? What information do I need to link my HANG SENG BANK account to PAYPAL? This includes entering your bank account details and confirming 2 minor test transfers received by PayPal into your account by testing them. Our answer? Knowing this, my paypal currency will be in USD. There are some expenses you need to know about whether you have an online business and get paid by PayPal. 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. 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. 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? The fee is, as you say, crazy. Teri12345. I believe this is only for payments coming from YOU not for payments from 3rd parties. 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! Want to save with international transfers? Whether you are local or global, we are here to support you. (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. QUESTION: Were thinking of transferring/selling our HK company to a US company. PayPal is a nightmare, my best advise is to stay away from it. If you have a problem with your PayPal account, the first thing to do is head over to the PayPal Contact Us page. Strap on your seat belts, this is going to be fun! very cool tip thanks for that Cherry! anyone overcome this crazy conversion rates? Activity, company ), Click on one of the icons to share the company. To prevent any account limitations, please confirm your identity at dashboard. Heres a run down by PayPal account type. 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. Anonymous, Name Email Review Title Rating Review Content. Youll pay a fee for the transfer, and an extra charge if it is funded in part or full using a card. 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. It is not intended to amount to advice on which you should rely. Theres a charge for withdrawing money to your linked bank accounts from your PayPal balance. Ok, but seller want it sent to Hong Kong. Its painful I know.. Find out how to register, send and and receive money via FPS. Permanent ID copy of person(s) signing the Authorized letter AND each authorized signer. Log into your PayPal account Click on Send and receive Enter the email address of the person you want to send money to Follow online prompts to enter the amount and currency you're sending in Add a note to the recipient, check and hit Send payment now Sending a PayPal international transfer using the PayPal app 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. I have filed a case with Paypal and they are reviewing it. Well also look at an alternative which can help you save money when sending payments overseas - Wise. For the kind of transactions you make, it is necessary to use the right PayPal account otherwise you risk locking or closing your account. 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. Copy of your Companys Certificate of Incorporation (CI), Proof of address of your Company (e.g. 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. Here youll find a range of resources including FAQs and community solutions. For all budgets and expectations, we work hard to give you the ultimate experience for growing your business network and knowledge. Click Update beside Address. Paypal Pro is a common account option in the US and UK and other countries, but not as common in Hong Kong. We're glad you have joined us. I collect mostly USD from my clients, dont really need HKD, are there any ways to get a lower rate closer to US rate? PayPal - How do I send payments from the PayPal app? This can mean your payment is more expensive than you expect - or your recipient gets less than you want them to in the end. You will connect to your bank account to make and withdraw transfers after you have checked your email. The level of verification you get through this process, is it ok to handle roughly 5 to 10k per month on it? Ill probably send to another user to get around the 2.5% fee. Welcome! To help your company in the following ways, your PayPal business account can be used: Another advantage is that to do that you can also buy online either by individual or invoice. Around 200 million people have a PayPal account. 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. Textiles, Clothing, Leather, Watchmaking, Jewellery. Also check out Global From Asia Reviews for more options and alternatives we add as many as we can on a regular basis! 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. If your account was limited for identity confirmation, the limitation has been removed. @Fred20051 and @Beccadsmokes, welcome to the Community! Check out Wise as a smart, simple way to cut the costs of sending and receiving money from overseas. Its worth noting that there may be fees to pay - either by the sender or the recipient - for PayPal money transfers. . Heres a short overview that we worked out for you to take a detailed look into all the costs of your local company getting a PayPal account. 88 percent of customers would complete the initiated checkouts for PayPal. 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. Is this your business? Just to withdraw that money? You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. Headquarters Address. 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. Can our Hong Kong Company register a bank account in the United States, is this a feasible option to get around this problem? Were still unable to complete the review process of your account at this time. By browsing this website, you consent to the use of cookies. Any thoughts Id love to hear them!From Dan. Dont know who you are but why yall talking money out my account, Pay, shop, and do even more on the PayPal app. The name of the sender is supposed to match the name of the Paypal account holder. I have a HK mobile phone plan that I use traveling abroad, may be worth the investment? yes youre not alone, tons of people are getting the same thing right now. 1999-2023 PayPal, Inc. All rights reserved. Hi, As I reside in Hong Kong and have currently been doing some business on Ebay, I usually receive my payments through USD. 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. 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. Only thing I can think of is to send the USD to a non-HK paypal account and withdraw it from there. However, there are fees for this service youll want to know about. Check it out! But PayPal isnt the only way to make and receive digital payments. You can receive money through PayPal in a variety of different ways. It is not intended to amount to advice on which you should rely. 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 . Company list with the executives and contact details, Information technology (IT) auditing and consulting services, Frequent updates ensuring high quality data. 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. Hello Michael, can i connect paypal hong kong account to Hang Seng Bank? Just saw it in my account (see attached). If you need to send or receive an international payment online you could be better off using a specialist service like Wise. 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. 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. 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. This ultimate guide runs through all you need to get started paying in and out of your Alipay HK wallet. However, there may be charges which the sender has to cover. Can anyone help me identify who these people are and why they are trying to take money from me monthly? I just want to transfer the location of my accoun. 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. POA (Proof of Address) is not required for getting this level of verification in Paypal. Learn more about PayPal business fees and exchange rates, here. 15th Floor Central Plaza 18 Harbour Road Rooms 1506-07 Wan Chai HK. you can buy my complete Hong Kong Supercharged Guide Book. I have a Hong Kong company but currently living in Ukraine. Lets all work together to solve these problems. 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. Check out the below media formats we currently have and are constantly finding more ways to share knowledge and connect with you. However as you mentioned, if I were to withdraw my credit from paypal to my HSBC account with foreign currency active, is there anyway i can directly just withdraw the USD instead of converting into HKD? PayPal Hong Kong Limited. Thats $250 USD just for the right to move your money to the bank. If you find out otherwise please let me know. My question is, i m planning to open with paypal HK, will they lock my account too if they "think" it is suspicious, and the charging rate is also a lot higher in HK compare to US, it is almost 4%-5%. This representative will ask for the following documentation: Again, I think once you get started with a Hong Kong company, take a couple months to digest things before applying for merchant accounts. This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. Pingback: Neat HK: A Solution for the Hong Kong Banking Nightmare? Check out our complete guide to registering and using PayMe from HSBC. Just go over to the website for PayPal Hong Kong and choose to sign up. Pingback: The Story of Neat Hk Developing in Hong Kong to Help the Banking Market with David Rosa and Igor Wos. Fees for eChecks in HK$ 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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