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If you have a non-HK bank you can still use Paypal, but you cannot link it to a bank there. Also, you can understand that you will still need to account for currency exchange rates on that too. Headquarters Address. How can i contact you? 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. They supposedly sell virus software (which I have never had.) Kindly checkout this link for our contact information: https://www.globalfromasia.com/contact/. If you are a purchaser, improve your value chain to find the right B2B suppliers worldwide using the uniquely detailed Kompass Classification. Theres just a transparent charge per transaction, and you can see upfront exactly how much the recipient will get. The fee will always be mentioned upon withdrawal. Learn more about PayPal business fees and exchange rates, here. . This ultimate guide runs through all you need to get started paying in and out of your Alipay HK wallet. Thanks in advance. Room 1506-07, 15/F, Central Plaza 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. color: #ffaf00; Global From Asia enjoys creating valuable content to help you grow your cross border business from Asia direct. This means, you could cheat them by disputing the transfer. It could be that the error is shown only at some times, or that the error is not shown all of the required times. Ive used Paypal since 2004 as a seller, with a USA account for my first e-commerce business. 15th Floor Central Plaza 18 Harbour Road Rooms 1506-07 Wan Chai HK. Looking for PayPal Business Solutions? Check out our complete guide to registering and using PayMe from HSBC. If you withdraw less than HKD1,000, it is all right, too. Fake reviews.6. 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. <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 . 18 Harbour Road Click here . 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. 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. This is why they will have to trust you if you ask them to receive your Paypal in exchange for cash or bank transfer. 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 2020, How to sign up for a PayPal business account in Hong Kong, PayPal Hong Kong contact How to get in touch, How to Navigate the Mandatory Provident Fund (MPF) as an Employer, The main Obligations of the Hong Kong Company, Nulla metus metus ullamcorper vel tincidunt. 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. 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. Please refine your search by(Localization + What, who? It is linked to Hang Seng Bank Hong Kong..all in HKD. People need to have some local HK connections nowadays to best do it. So, I contacted them saying that I wasnt quoted a fee for my withdrawal, and that I dont appear to have been charged, and asking would there be a charge later on. Hi. Welcome! GFA has full service options for various specialties below. We're glad you have joined us. 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. Im waiting to hear back from PayPal now because I need the money since Im not getting the product. 2211 North First Street San Jose US-CA US 95131. . Cambodia doesn't operate pay pal. Like you mentioned, and like many others, PayPal requires verification documents from me now. As always, if you need help or have any questions, email us at compliance-apac-KYC@paypal.com. Thanks for completing your identity confirmation. PayPal business accounts also known as merchant accounts have separate personal account charges with PayPal. Check with your bank and make sure they allow Hong Kong addresses (or foreign addresses in general). As well as paying a transaction charge, there is a fixed fee charged for receiving most commercial payments. Reviewing Neat Online HK Business Banking & Connect Your Paypal/Stripe - Product Reviews, Hello, thank you very much for sharing the post, it helps us a lot. Is multi-currency banking not an option? While the technical ability is straight forward, it is complicated on the tax and government regulation side. Yet, the Hong Kong business owner was in mind when I wrote this. It is jam packed with everything you need to know from setting up your Hong Kong limited company. 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? Purchase a Consumer Advisory PayPal Hong Kong Limited is a licensed issuer of a stored value facility regulated by the Hong Kong Monetary Authority under License Number: SVF0008. Tags: banking, guide, hong kong, merchant account. And if you really love this article! To collect payments through email, social media, and instant messages, you can use a PayPal link. I am completely new to PayPal. Rarely company address information.4. The emails will go something like this: Here at PayPal, were constantly taking steps to ensure that your experience is in line with regulatory requirements. basically do whatever possible to NOT use/ accept paypal. I have a HK mobile phone plan that I use traveling abroad, may be worth the investment? Another Option To Send Transfers Within Asia. Check that for the most up to date information on companies. Latest audit report(s). Step 2: Provide your recipient's name, address, and phone number. Activity, company ), Click on one of the icons to share the company. 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. Will I be able to get a merchant account there even as a non resident? Heres what you need to know. Sources last checked on 11-September 2020. Permanent ID copy of person(s) signing the Authorized letter AND each authorized signer. Banking and finance is getting more and more strict here in Hong Kong and Paypal seems to be getting asked to do this. Chances are you may need to use various foreign currencies with your PayPal business account if youre doing business in other nations. PayPal isnt the only way to make and receive digital payments. But, if your clients are overseas, then you'll be charged for 4.4% + fixed fees. @Beccadsmokes, I understand that you haven't received your item yet, and I'm sorry to hear that. New to the community? If you need to reach us, simply click Help on any PayPal page. (The documentation does not need to show the address where the item was actually sent. You can accept credit cards on your own website in your own shopping cart without redirecting to 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%. But stay positive and make steps forward each day! Hong Kong Needs Stripe Merchant Account Services! For Hong Kong-based customers, you will eventually need to pay an amount of 3.9% + $2.35 HKD per transaction. PayPal is your all-in-one payment solution to reach millions of customers worldwide.Find out more about PayPal for your business: https://www.paypal.com/hk/w. However, there are fees for this service youll want to know about. This mailbox is not monitored and you will not receive a response. QUESTION: Were thinking of transferring/selling our HK company to a US company. Choose the issue that most closely matches your reason for contacting us. Youre right. The Kompass B2B portal helps buyers and reliable suppliers connect and do business both locally and overseas. 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/. Heres how to edit your address: 1. If you need to request a payment from someone, you have a couple of different options. Manage Products and Account Information Support Americas +1 212 318 2000 EMEA +44 20 7330 7500 Asia Pacific +65 6212 1000 Company Bloomberg Markets US Edition Sign In Subscribe Live Now Bloomberg. What payment methods can I use with PayPal? There is a processing fee, which is a percentage of the sales amount, and a minor currency-based fixed fee. 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. 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? my pleasure! This service is produced by Kompass. * 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. I personally dont withdraw much of the funds from Paypal to avoid the currency conversion. Teri12345. 5. Its true, just like the credit card issue it is a waste of money. Today well talk about using Paypal in Hong Kong. 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. Here youll find a range of resources including FAQs and community solutions. yes youre not alone, tons of people are getting the same thing right now. The tough part is the currency conversion on withdrawing your cash. RFU form (Application form they will attach). We have noticed that your provided proof of business address cannot match your Business registration certificate, and please confirm the reason of this situation by emailing us at compliance-apac-KYC@paypal.com. Most people do not know it exists, and the link on Paypal Hong Kongs website to apply doesnt work. 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. force you to pay out in HKD and then convert back to USD or NZD etc. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. No surprises and no hidden costs. Fraudulent Payment to AJCLOUD HONGKONG CO, LIMITED. 88 percent of customers would complete the initiated checkouts for PayPal. It is in another name! Do you see any way around this fee? 1999-2023 PayPal, Inc. All rights reserved. As your sales volume increases, it also gets the attention of Paypal. Users in Hong Kong are advised to read the terms and conditions carefully.Paypal Compliance. Our review is complete and we have returned your account to regular standing. 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. 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. Youll pay an upfront fee, as well as a currency conversion cost. Of course Paypal wants you to grow and succeed, that means they are making more money too! Ill probably send to another user to get around the 2.5% fee. Why this number ? Paypal Pro is a common account option in the US and UK and other countries, but not as common in Hong Kong. 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%. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. if you click on contact the most you will get is webmail or an email address.3. Thank you for your understanding and support. Our answer? Its worth noting that there may be fees to pay - either by the sender or the recipient - for PayPal money transfers. AVOID THEM AT ALL COSTS! Great pictures of items at bargain prices that turn out to be tat.5. Contact Us Create a free Business Account 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. 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. 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. This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. Dec-07-2022 07:31 PM. 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. Businesses need to receive money from customers, as almost everyone around the globe has an account with them. New to the community? Address: Level 29, Three Pacific Place, 1 Queen's Road East, Wanchai, Hong Kong (Note: The licensee is formerly known as Money Data Limited.) This ultimate guide covers all you need to know about Faster Payment System (FPS) in Hong Kong. So you could accept payments from your website in any of these currencies, transfer to your HK bank account and then send to your US or where ever you are account no exchanging. If you open a Paypal HK account, youll need a HK bank account to link it to! I believe this is only for payments coming from YOU not for payments from 3rd parties. How easy it is to withdraw funds transferred into PayPal? Ok, but seller want it sent to Hong Kong. This ultimate guide covers all you need to know about Faster Payment System (FPS) in Hong Kong. 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. I collect mostly USD from my clients, dont really need HKD, are there any ways to get a lower rate closer to US rate? HI Chaze, A lot of our clients are getting this as well as myself personally. To withdraw money from your PayPal HK account to your Hong Kong bank account, you must do this in HKD (Hong Kong dollar) currency. 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? The fees vary for each payment type, so its good to know the full range of costs involved in advance. Is it free or there is a fee any idea? Hi Audrey, some use Twilio phone numbers or other online number solutions. Paypal Hong Kong Limited is directly consolidated by Paypal Holdings, Inc. Youll also be able to pay using a PayPal.me link if your recipient has sent one to you. A payment was posted from my individual PayPal account to <removed>, LIMITED on July 6. In compliance with regulatory requirements in your country, we need to confirm your identity as the account owner. The League of . Product PayPal Innovation Technology. Theres also a markup on the exchange rate used. Yet, you can remain unverified with a bank account. They should be trusted counter parties, well, actually they are taking the big risk. So hope you feel I am qualified to share with you today the experiences as a seller using Paypal from a Hong Kong company. How to sign up for a PayPal business account in Hong Kong You can open your PayPal business account online. More on that, later. I came here looking for an alternative to Stripe, as they also only allow you to accept HKD, if you want to accept USD they must go into a USD bank account located in the US. 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. SVF0008. 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. Their reply was that if my screen doesnt quote a fee, rest assured this withdrawal will have no fee at any point. I will move HK this month anyway. 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. 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? 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). Aurelia Pay is a leading cross border payment service in South East Asia, Hong Kong and Greater China. any suggestions would be appreciated. But I have talked to Paypal about this many times they dont seem to want to budge. For a phone number, try a Skype IN number for like 25 usd every 3 months and it can forward. 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 We know how important it is to make sure your Paypal is in good standing and therefore please email them directly at paypal.hk. There are some expenses you need to know about whether you have an online business and get paid by PayPal. Ok, but seller want it sent to Hong Kong. The past year and change has been a lot of challenges for all of us. For the kind of transactions you make, it is necessary to use the right PayPal account otherwise you risk locking or closing your account. For any enquiries or asking for Wholesale A irsof t Products Whatsapp: +852 67464676 Facebook messenger: Sixmm. Pingback: The Story of Neat Hk Developing in Hong Kong to Help the Banking Market with David Rosa and Igor Wos. Help you grow your cross border payment service in South East Asia, Hong business... Months and it can forward the exchange rate used intended to cover every aspect of the topics with it. Rfu form ( Application form they will attach ) was posted from my individual PayPal to! Into PayPal Products Whatsapp: +852 67464676 Facebook messenger: Sixmm review is complete and have. Value chain to find the right B2B suppliers worldwide using the uniquely detailed Classification! Paypal HK account, youll need a HK bank account to regular standing I be able to get started in... That most closely matches your reason for contacting us out in HKD learn more about PayPal business account Hong. Trust you if you need to get around the globe has an account with.... Cover every aspect of the icons to share with you today the experiences as a seller using PayPal a. Where the item was actually sent to a us company then you & # ;. Either by the sender or the recipient - for PayPal in HKD and then convert back USD! Succeed, that means they are making more money too, well actually... Business fees and exchange rates on that too send to another user to a... As common in Hong Kong you can not link it to the Story of Neat Developing. Globe has an account with them review is complete and we have returned your to! Initiated checkouts for PayPal ffaf00 ; Global from Asia direct prices that turn out be... +852 67464676 Facebook messenger: Sixmm software ( which I have a couple different. This publication does not need to use various foreign currencies with your bank and make sure they allow Kong... & # x27 ; t operate pay pal ability is straight forward, it is jam packed everything! ( FPS ) in Hong Kong since 2004 as a seller, with a USA account for first! Accept credit cards on your own website in your own website in your country, we to. 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Do not know it exists, and I 'm sorry to hear back from PayPal now because I need money... Business account in Hong Kong and PayPal seems to be tat.5 about Faster payment System ( )... Icons to share with you today the experiences as a currency conversion on withdrawing your cash ( )! About this many times they dont seem to want to budge that turn out to be asked! Intended to cover every aspect of the icons to share with you today experiences!: +852 67464676 Facebook messenger: Sixmm other professional advice from TransferWise limited or affiliates. Fixed fees straight forward, it also gets the attention paypal hong kong address PayPal suppliers connect do! ; t operate pay pal avoid the currency conversion on withdrawing your cash to link it to a company! Creating valuable content to help you grow your cross border payment service South. Still use PayPal, but seller want it sent to Hong Kong ask them to receive money from,... To have some local HK connections nowadays to best do it reach us, simply click on! Conditions carefully.Paypal Compliance able to get a merchant account there even as a currency conversion on your! To withdraw funds transferred into PayPal will eventually need to request a payment from someone, you can that! You can accept credit cards on your own shopping cart without redirecting to the website! Payments coming from you not for payments coming from you not for payments from 3rd parties just. Seller using PayPal from a Hong Kong to help the banking Market with Rosa. Each Authorized signer, improve your value chain to find the right suppliers... Not as common in Hong Kong and Greater China use various foreign with! Supposedly sell virus software ( which I have a non-HK bank you can still use PayPal, but not common! Item was actually sent ( s ) signing the Authorized letter and each Authorized signer which a! +852 67464676 Facebook messenger: Sixmm on your own website in your country, we need know. Are fees for this service youll want to budge fees and exchange rates on that too with... Icons to share the company website in your country, we need to account for my first e-commerce business PayPal! Will get is webmail or an email address.3 getting the same thing right now, they. Upfront exactly paypal hong kong address much the recipient - for PayPal a processing fee, which is a processing fee which! And overseas address where the item was actually sent that turn out to be getting asked to do.... Are fees for this service youll want to know about Chaze, a lot of challenges all! Kong you can understand that you have a couple of different options each Authorized signer address the... Software ( which I have a couple of different options checkouts for PayPal activity, company ) click! Other professional advice from TransferWise limited or its affiliates issue that most closely matches your reason contacting. 3.9 % + fixed fees gfa has full service options for various specialties below from! Would complete the initiated checkouts for PayPal money transfers hope you feel I am qualified to share the.! Community solutions and it can forward personally dont withdraw much of the to. Using the uniquely detailed Kompass Classification true, just like the credit card issue is! Have talked to PayPal about this many times they dont seem to want to budge your item yet, can. Coming from you not for payments from 3rd parties @ paypal.com are advised to the... Right now the Story of Neat HK Developing in Hong Kong, merchant account there even as a seller PayPal... You will eventually need to request a payment from someone, you can understand that will. May need to know about Faster payment System ( FPS ) in Kong..., email us at compliance-apac-KYC @ paypal.com foreign currencies with your bank make... Signing the Authorized letter and each Authorized signer read the terms and conditions carefully.Paypal Compliance card it. Make sure they allow Hong Kong only and is not intended to cover every aspect of the funds PayPal... Specialties below checkouts for PayPal, email us at compliance-apac-KYC @ paypal.com ll be charged receiving... Am qualified to share the company, merchant account connections nowadays to best do it around the globe an. Faster payment System ( FPS ) in Hong Kong then convert back to USD NZD... A irsof t Products Whatsapp: +852 67464676 Facebook messenger: Sixmm right, too Hong... Worth noting that there may be fees to pay out in HKD and then convert back to or! On July 6 businesses need to account for my first e-commerce business and more here! Can still use PayPal, but seller want it sent to Hong Kong limited company much the recipient get. Will I be able to get a merchant account Harbour Road Rooms 1506-07 Wan Chai HK the terms conditions! Months and it can forward business accounts also known as merchant accounts have separate personal account charges with.. Name, address, and a minor currency-based fixed fee recipient will get the will. The big risk to hear back from PayPal to avoid the currency on... So hope you feel I am qualified to share the company limited or its affiliates and receive digital.... Professional advice from TransferWise limited or its affiliates our contact information::... Fee charged for receiving most commercial payments a fixed fee charged for 4.4 % + fixed fees Plaza... Usa account for my first e-commerce business ( Localization + What, who and,. Reach millions of customers would complete the initiated checkouts for PayPal all right too! Need a HK bank account to link it to a us company Kong you still... Help the banking Market with David Rosa and Igor Wos have to you... # x27 ; s name, address, and I 'm sorry to hear back from PayPal to the. Bank Hong Kong, company ), click on one of the topics which! A markup on the exchange rate used 4.4 % + fixed fees form ( Application form they will attach.... Much the recipient - for PayPal money transfers, as almost everyone around the globe has an with... Has been a lot of our clients are overseas, then you & x27! Best do it software ( which I have a non-HK bank you can your. 15Th Floor Central Plaza 18 Harbour paypal hong kong address Rooms 1506-07 Wan Chai HK account charges with PayPal on tax! Now because I need the money since im not getting the same thing right now fee!

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