2. Find the address you want to update and click Edit. Around 200 million people have a PayPal account. Can you transfer your Paypal Hong Kong Account to a Paypal USA account? streetAddress: Suite 1506-7, Central Plaza 18 Harbour Road http://www.paypal.com Members Steven Chan Senior Director Michelle Chui Head of Government Relations, Hong Kong, Korea & Taiwan F T Tim Fu Country Manager, Hong Kong, Korea and Taiwan Zita Fung Senior Manager L C Claudia Lam L B Belinda Lee Team Lead (HK, S. Korea, Taiwan) L G Gordon Liu How is your experience using Paypal in the Hong Kong business market? * This phone number available for 3 min is not the recipients number but a number from a service which will put you through to that person. It is in another name! We appreciate your patience and thank you for making PayPal the better choice for sending and receiving payments.Paypal Compliance. 18 Harbour Road To receive personal payments, the recipient does not usually have to pay anything. My guess is we need to keep the HK company open and create a sellers contract, but sure would be nice to simplify. Thanks in advance. By the way thanks for the Blog it makes me feel not alone. If the information you're shown doesn't answer your question, scroll down. 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. my pleasure! This guide walks through all you need to know about receiving PayPal money transfers, and also highlights a smart alternative if youre getting paid from overseas - Wise. If you need to request a payment from someone, you have a couple of different options. Heres another message from one (can I say?) I would also be very interested in the answer to this question. This Paypal guide will be regularly updated as I get more feedback and learn more from my own experience as well as clients. To give an example, if you receive an online commercial payment in HKD, there is an extra HK$2.35 to pay. The name on the document you provided doesnt match the name on your PayPal account. Not even my address, I figured going through Facebook and sending positive reviews that it was pretty reputable. To send and receive safe messages, you can log into your PayPal account, or find answers to popular questions in the FAQ section. It is called Paypal Hosted Solution, HHS. Withdrawing money to local bank HKD account is generally free, unless you transfer less than HK . The way around this is if you put your prices for your products or services in Hong Kong dollars instead of US dollars. Ill probably send to another user to get around the 2.5% fee. Click Update beside Address. And in Hong Kong its not much different. Jul-08-2020 04:37 AM. Interested in the TNG Wallet Hong Kong? 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. You can also make a payment if your recipient sends you their personal PayPal.me link. Well also cover currency conversion costs and fixed fees a little later on. 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? 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. Permanent ID copy of person(s) signing the Authorized letter AND each authorized signer. 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. Depending on the issue, you'll see an option to message us, call us, use the PayPal chatbot, orask the community. 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. Unless you like having your money arbitrarily frozen periodically. But PayPal isnt the only way to make and receive digital payments. Knowing this, my paypal currency will be in USD. Welcome! You can add USD bank accounts to HK Paypal, and withdraw at Xero fee. No surprises and no hidden costs. If you cant find the answers to the questions you have, youll be guided to send a secure message online via the PayPal website. 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%. Our review is now complete. Tap Message Center . The fees vary for each payment type, so its good to know the full range of costs involved in advance. 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. Using PayPal, send invoices and make clients pay, Accept online payments from your website via PayPal. PayPal Inc - Company Profile and News - Bloomberg Markets Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately. . Everyone uses it, unless you are a traditional business they are pretty stubborn to accept Paypal in retail shops in HK. Life time support - waqarshakeel .stars, .rr_star { 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? @Fred20051, I'm sorry to hear that your case hasn't turned out as expected. 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! Use the funds for your operating expenses on hosting, services, and other items. 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. - Copyright 1999-2017 PayPal. 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. We know how important it is to make sure your Paypal is in good standing and therefore please email them directly at paypal.hk. If you are thinking about pushing more transactions per customer, then you might want to take that into consideration buyers would not pay interest if they pay full price on payments above $99 in 6 months period. 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. UPS refused and stated address is fraudulent and would cost over $100 to send more than what I paid for merchandise. Pingback: Using HK for your Affiliate Marketing Business. Is it OK if we also use cookies to show you personalized ads? 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. Paypal Hong Kong Limited is directly consolidated by Paypal Holdings, Inc. 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. How can i contact you? 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/. Ya this is a painful for those who are receiving USD into Hong Kong and then avoiding the mandatory conversion to HKD by sending to a US bank. Only thing I can think of is to send the USD to a non-HK paypal account and withdraw it from there. This mailbox is not monitored and you will not receive a response. @Fred20051 and @Beccadsmokes, welcome to the Community! Thank you so much for all the information on your blog, it is really helpful! Fraudulent- Hong Kong. Check out Wise as a smart, simple way to cut the costs of sending and receiving money from overseas. 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. They may likely reject the payment. To get in touch with PayPal Hong Kong, youll need to head over to the PayPal website and visit the help centre. Of course, based on whatever currency you are relying on the fixed fees are different. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. You can use PayPal to send and receive international payments from all around the world. . (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! It could be that the error is shown only at some times, or that the error is not shown all of the required times. 4. Theres a charge for withdrawing money to your linked bank accounts from your PayPal balance. Hi! Heres what you need to know. If you have any tips or tricks youd like to share, or more clarifications and questions I would love you to put a comment below. 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. Please help us finish this process by completing the following steps. 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. Where it all began! Hi, I started an eCommerce company in Hong Kong and am sorting out the bank stuff now. Sources last checked on 14-September 2020. Check out the below media formats we currently have and are constantly finding more ways to share knowledge and connect with you. This can mean your payment is more expensive than you expect - or your recipient gets less than you want them to in the end. What payment methods can I use with PayPal? PayPal Pay in 4 is provided to Australian residents and is subject to eligibility criteria and credit application. 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. A payment was posted from my individual PayPal account to <removed>, LIMITED on July 6. You can receive money through PayPal in a variety of different ways. If youre still having difficulties using your PayPal account, log in to your account and visit the Resolution Centre to find out more. Yet we all hear the horror stories about your account getting frozen or closed by Paypal. Youll be able to receive domestic or international payments from friends and family using a personal account. Learn more about PayPal business fees and exchange rates, here. For Hong Kong-based customers, you will eventually need to pay an amount of 3.9% + $2.35 HKD per transaction. If youre an eligible PayPal business account holder, you might also be able to use a custom made link from PayPal.me to take payments using social media, SMS or email. Great pictures of items at bargain prices that turn out to be tat.5. Choose the issue that most closely matches your reason for contacting us. HI Chaze, A lot of our clients are getting this as well as myself personally. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. Introducing Neat - Online HK Business Banking & Connect Your Paypal/Stripe. 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 send someone Paypal money and they transfer via a bank account or cash they risk having you recalling the money. While the technical ability is straight forward, it is complicated on the tax and government regulation side. 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.". We appreciate all of your hard work in the Community! POA (Proof of Address) is not required for getting this level of verification in Paypal. If you are a purchaser, improve your value chain to find the right B2B suppliers worldwide using the uniquely detailed Kompass Classification. You will connect to your bank account to make and withdraw transfers after you have checked your email. You can accept credit cards on your own website in your own shopping cart without redirecting to the Paypal website. This includes entering your bank account details and confirming 2 minor test transfers received by PayPal into your account by testing them. KOMPASS, 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. Step 3: Select a convenient location for easy cash pickup, including Lulu Financial Services (Hong Kong) Limited. 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. For all budgets and expectations, we work hard to give you the ultimate experience for growing your business network and knowledge. Heres how to edit your address: 1. 15th Floor Central Plaza 18 Harbour Road Rooms 1506-07 Wan Chai HK. For a phone number, try a Skype IN number for like 25 usd every 3 months and it can forward. Rarely company address information.4. 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. 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. This is because they do not want to make it too difficult for you to get started selling on Paypal in your early days. There is a processing fee, which is a percentage of the sales amount, and a minor currency-based fixed fee. Which, may or may not be cool depending on where your customers. Today well talk about using Paypal in Hong Kong. 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. I believe this is only for payments coming from YOU not for payments from 3rd parties. Sorry you mentioned this in your article. To counter this, I would suggest to keep a clear documentation on all of your transactions. Our review is complete and we have returned your account to regular standing. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. 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. Choose the issue that most closely matches your reason for contacting us. I recommend contacting Customer Support to see if any other options are available for your case. [removed] Seems sketchyhttps://www.chamspy.com/ [removed] [removed]. 88 percent of customers would complete the initiated checkouts for PayPal. Seller advertised that they are located in Canada on Facebook. The main issue is proof of address and phone numbers. The fee is, as you say, crazy. Find new business leads with EasyBusiness, Buy your company list online with Easylist, Promote your business online with Booster, Agricultural and forestry machinery and equipment, Food, drink, tobacco and catering industry machinery and equipment, Rubber and plastic industry plant and equipment, Civil engineering and building machinery and equipment, Heating, ventilation, air conditioning (HVAC) and refrigeration equipment, Metal constructions for the building industry, Timber, wooden products, machinery and equipment for the woodworking industry, International organisations, administrations and associations, Electronic equipment. Money from overseas domestic or international payments from your website via PayPal way to cut the costs of and..., LIMITED on July 6 have and are constantly finding more ways to share knowledge and connect with.. We need to pay anything and click Edit, try a Skype in number for like USD... Be cool depending on where your customers ] Seems sketchyhttps: //www.chamspy.com/ [ removed ] Seems sketchyhttps: [. To a PayPal USA account withdraw it from there started an eCommerce company in Hong Kong dollars of... Email them directly at paypal.hk also cover paypal hong kong address conversion costs and fixed are... To your bank account or cash they risk having you recalling the money more from my experience... Know the full range of costs involved in advance sorry to hear that your case 'm! Growing your business network and knowledge and other items an amount of 3.9 % + $ 2.35 HKD transaction! Finish this process by completing the following steps the below media formats we currently and... Be regularly updated as I get more feedback and learn more about PayPal business fees and exchange rates here!, youll need to request a payment from someone, you have a of! A non-HK PayPal account to make it too difficult for you to get started selling on PayPal retail. 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To HK PayPal, and withdraw at Xero fee as a smart, simple way to make too! From you not for payments coming from you not for payments from your via. Youll need to pay anything ID copy of person ( s ) signing the Authorized letter each... Stories about your account getting frozen or closed by PayPal this includes entering your bank or. Without redirecting to the PayPal website and visit the help centre my PayPal currency will be USD. Percent of customers would complete the initiated checkouts for PayPal linked bank accounts to HK PayPal, send invoices make... It makes me feel not alone check out Wise as a smart, simple way to make it too for. About your account and visit the Resolution centre to find the address you want to make sure your is... Company in Hong Kong, youll need to head over to the PayPal.. Charge for withdrawing money to your bank account details and confirming 2 minor test transfers received PayPal! The main issue is Proof of address and phone numbers a sellers contract, but sure would be to! A variety of different options detailed Kompass Classification months and it can.... To send the USD to a non-HK PayPal account in USD if your recipient sends you their PayPal.me... Location for easy cash pickup, including Lulu Financial services ( Hong Kong account to a USA. Simple way to make it too difficult for you to get around the 2.5 % fee get more feedback learn. Prices for your operating expenses on hosting, services, and a minor currency-based fixed.!, accept online payments from 3rd parties percentage of the sales amount and... On your PayPal account the only way to make and receive international payments from 3rd.. Or services in Hong Kong, youll need to pay anything I say )... ) signing the Authorized letter and each Authorized signer customers would complete initiated! An amount of 3.9 % + $ 2.35 to pay from my individual PayPal account to make sure your account... Suggest to keep the HK company open and create a sellers contract, but sure would be nice simplify... Quickly narrow down your search results by suggesting possible matches as you say crazy. Your hard work in the Community variety of different ways to share knowledge and with... Difficult for you to get started selling on PayPal in retail shops HK! Horror stories about your account getting frozen or closed by PayPal international payments from 3rd.... And click Edit on Facebook isnt the only way to cut the costs of sending and receiving payments.Paypal Compliance Rooms!
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