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? To convert the foreign currency into the local currency of your PayPal account, you will then also pay a markup of 3 percent on the currency exchange rate. Hong Kong Needs Stripe Merchant Account Services! 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. Enter your address information and click Save. Find out more about PayPal for Business by calling our sales team, +852-3550-8584 Monday-Fridays from 9:00AM to 6:00PM*. I need to move my account to HK now and I have people waiting to send me money so how do I set up my account as registered in HK not in Cambodia as it says Cambodia in the settings.? *Fees correct at time of writing - 31 August 2020. 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. Prior results do not guarantee a similar outcome. Interested in the TNG Wallet Hong Kong? What this means is that PayPal takes the mid-market exchange rate, and adds a margin of 4% to it, to create the transaction exchange rate used for PayPal payments. If the information you're shown doesn't answer your question, scroll down. Free and open company data on Hong Kong company PayPal Hong Kong Limited (company number 1144926) Learn how to leverage transparent company data at scale. I hope everyone has a wonderful weekend! It is linked to Hang Seng Bank Hong Kong..all in HKD. just greedy number. Its hardly the mid-market rate that they give. If it's this Android app, that points directly to some dark interface design they're . And as a member in Dynamite Circle I have read and engaged with many members in there with various experiences. I am completely new to PayPal. Prior results do not guarantee a similar outcome. Reference to dispute PP suggest I send the merchandise back to get my refund. Please also update the address on your Proof of business address document to the account. 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 you withdraw less than HKD1,000, it is all right, too. We know how important it is to make sure your Paypal is in good standing and therefore please email them directly at paypal.hk. You will connect to your bank account to make and withdraw transfers after you have checked your email. Permanent ID copy of person(s) signing the Authorized letter AND each authorized signer. 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. Youll pay several fees when you receive an overseas business payment from PayPal. Not sure if Skype in has text message capabilities? Thats annoying as Id be exchanging twice which seems like such a waste of money. Will I be able to get a merchant account there even as a non resident? so my account does not interrupted ??????? All rights reserved. Step 3: Select a convenient location for easy cash pickup, including Lulu Financial Services (Hong Kong) Limited. Tags: banking, guide, hong kong, merchant account. Ok, but seller want it sent to Hong Kong. To send and receive safe messages, you can log into your PayPal account, or find answers to popular questions in the FAQ section. Businesses need to receive money from customers, as almost everyone around the globe has an account with them. Another Option To Send Transfers Within Asia. The currency conversion rate is extremely bad at ~2.5%. You can use PayPal to send and receive international payments from all around the world. To me it says that your PayPal account setup is based on Hong Kong address and that at any point when they notice that you are from Hong Kong, you are greeted with the message. China - Mainland, Hong Kong, Macao, Taiwan regions; . Address: Room 1506-1507, 15/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong. Well walk through the features, fees and limits of the TNG Wallet and TNG Wallet Mastercard. To put it simply, there are only two ways on how PayPal charges you for receiving money - either by selling to local HK customers; or overseas customers. You may contact a Business Consultant in Paypal HK. Even if you use other digital wallets, almost 45% of the consumers would not be able to complete the payment. Its painful I know.. Life time support - waqarshakeel .stars, .rr_star { 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. Wed love to hear from you but please dont reply to this email. Hi. This includes entering your bank account details and confirming 2 minor test transfers received by PayPal into your account by testing them. 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. 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. I have a Hong Kong company but currently living in Ukraine. 4. I would also be very interested in the answer to this question. 1999-2023 PayPal, Inc. All rights reserved. If you have a business account, you can also receive money for selling online or in person, both at home and abroad. 5. 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 Converting to HKD would be fine if paypal didnt rig the (bleep) out of the exchange rate. Telecommunications equipment, Optical, photographic and cinematographic equipment, Environmental services, renewable energies, Technical offices and engineering consultancies, architects, Hospitality, tourism, hotel and catering industries, Postal services, telecommunications, radio and television, Mining, quarrying and stoneworking plant and equipment, Paper and board making plant and equipment, Printing equipment. 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. Here youll find a range of resources including FAQs and community solutions. By browsing this website, you consent to the use of cookies. Company list with the executives and contact details, Information technology (IT) auditing and consulting services, Frequent updates ensuring high quality data. How do I enable PayPal Zettle customer lists? Interested in the TNG Wallet Hong Kong? 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. 15th Floor Central Plaza 18 Harbour Road Rooms 1506-07 Wan Chai HK. Just go over to the website for PayPal Hong Kong and choose to sign up. Well also look at an alternative which can help you save money when sending payments overseas - Wise. I am trying to create a shipping label to Hong Kong, but when I go through the shiplabel/create form and select Hong Kong, the form options do not Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. The data we collect are only those necessary for the proper use of our service. While the technical ability is straight forward, it is complicated on the tax and government regulation side. Thats $250 USD just for the right to move your money to the bank. Login to connect to Kompass solutions or register to discover all our services. I have a local Hong Kong Paypal account. 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? . Discover it now, Mid-market exchange rate + 4% currency conversion fee, Enter the email address of the person you want to send money to, Follow online prompts to enter the amount and currency youre sending in, Add a note to the recipient, check and hit, Enter the email address of your recipient, Confirm the amount and currency youre sending in, Check the details and complete the payment, HK$38.99 if payment is funded using your PayPal balance or linked bank account, HK$38.99 + 3.4% + fixed fee based on currency if you pay using a card. 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. 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. But, youre not alone. Is it OK if we also use cookies to show you personalized ads? You'll need to enter some basic details, including: Your email address Your business information Your personal information You'll then receive a confirmation email. Contact Us Create a free Business Account New and existing customers looking for set up, technical and account support. 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. How can i contact you? Hi, As I reside in Hong Kong and have currently been doing some business on Ebay, I usually receive my payments through USD. With our independent end to end payment network, Aurelia Pay delivers payment within the same business day with competitive, fair and transparent FX rate. Does anyone know of a solution where you can accept USD credit card payments online into our [Hong Kong Companys] Hong Kong USD bank account? But requested that merchandise be send to Kong Hong. You can make a payment through PayPal online or using the PayPal app. 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. 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. Can anyone help me identify who these people are and why they are trying to take money from me monthly? If the information youre shown doesn't answer your question, scroll down. If you open a Paypal HK account, youll need a HK bank account to link it to! It is called Paypal Hosted Solution, HHS. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. yes youre not alone, tons of people are getting the same thing right now. like 3% ish total? The fees vary for each payment type, so its good to know the full range of costs involved in advance. 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. 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. We are getting more and more emails from readers who think we are affiliated with Paypal and asking us for customer support. Do you see any way around this fee? Cancelled the subscription from within paypal but i will definitely be following up with a formal complaint. Cancelled the subscription from within paypal but i will definitely be following up with a formal complaint. Relationship Start Node Node I D. 549300SKO1BSTONRKQ46 . And, worst case transfer the money to others in exchange for cash. If the information you're shown doesn't answer your question, scroll down. Please contact us for details for now. Over 80% of surveyed SMBs embrace digital to grow cross-border selling. 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. In the meantime, you can still open and operate with a Paypal HK account. This means, you could cheat them by disputing the transfer. 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. Can you transfer your Paypal Hong Kong Account to a Paypal USA account? And this is for my own account but finally I got everything straight (phew!) However, there may be charges which the sender has to cover. The REST APIs support many countries for PayPal account payments if you have a business account. Thanks for completing your identity confirmation. You can create a PayPal account for free and start receiving payments almost instantly. Want to save with international transfers? Most people do not know it exists, and the link on Paypal Hong Kongs website to apply doesnt work. It is not intended to amount to advice on which you should rely. 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. 1999-2023 PayPal, Inc. All rights reserved. From Asia corporate services to internet marketing and training, we have you covered. Its worth shopping around before you decide the best way to make and receive payments, to see if you can save. 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. But, if your clients are overseas, then you'll be charged for 4.4% + fixed fees. Chances are you may need to use various foreign currencies with your PayPal business account if youre doing business in other nations. Pingback: Using HK for your Affiliate Marketing 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. The past year and change has been a lot of challenges for all of 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). Only thing I can think of is to send the USD to a non-HK paypal account and withdraw it from there. Purchase a Also, I have an extensive guide and listing of Hong Kong Merchant Accounts and I try to update it regularly. Welcome! If your account was limited for identity confirmation, the limitation has been removed. I will look into Twilio though as it wasnt the one I was looking at. The process for receiving money using a PayPal money transfer, or through PayPal commercial payments online or in person is straightforward. To withdraw money from your PayPal HK account to your Hong Kong bank account, you must do this in HKD (Hong Kong dollar) currency. We have a Remittance Partner Recommendation. The transaction exchange rate is adjusted regularly and includes a Currency Conversion Fee applied and retained by us on a base exchange rate to form the rate applicable to your conversion.. If you receive an in person payment using a QR code, in HKD, youll pay an extra HK$0.80. Users in Hong Kong are advised to read the terms and conditions carefully.Paypal Compliance. this is the last part that is needed. I have filed a case with Paypal and they are reviewing it. To give an example, if you receive an online commercial payment in HKD, there is an extra HK$2.35 to pay. Pingback: Hong Kong Needs Stripe Merchant Account Services! how can I get around this. Learn more about PayPal business fees and exchange rates, here. Since they're. you can buy my complete Hong Kong Supercharged Guide Book. You can open your PayPal business account online. This service is $30 USD per month fixed cost in addition to the processing rates. Options. utility bill, bank statement) within 3 months. Financial regulations around the globe are getting harder not easier. So we will most likely need to charge in USD. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? 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. 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%. Generally, with whatever currency your account holds, theres not a fee charged for sending money from your PayPal account. To prevent any account limitations, please confirm your identity at dashboard. GFA has full service options for various specialties below. 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. Log into your PayPal account Go to Send and Request, and hit Request Enter the email address of the person you're asking for a payment Enter the amount you're requesting Add a note Click Request a Payment to confirm 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. As your sales volume increases, it also gets the attention of Paypal. If youre still having difficulties using your PayPal account, log in to your account and visit the Resolution Centre to find out more. 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. This guide is useful for a Paypal international account anywhere in the world, not just in HK. 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. No return address on the returns policy. If you send money overseas with PayPal, youll usually need currency conversion so your payment is made available to your recipient in their local currency. 2. It is in another name! In compliance with regulatory requirements in your country, we need to confirm your identity as the account owner. This Paypal guide will be regularly updated as I get more feedback and learn more from my own experience as well as clients. Your money to the processing rates very interested in the meantime, you consent to website... In HKD I got everything straight ( phew! seems like such a waste of.! Company but currently living in Ukraine details and confirming 2 minor test transfers paypal hong kong address... So we will most likely need to use various foreign currencies with your PayPal business account if youre business. Most likely need to confirm your identity as the account person payment using a code. Account does not interrupted??????????... 3 months good to know the full range of resources including FAQs and community solutions transfers after you have your... Location for easy cash pickup, including Lulu Financial Services ( Hong Kong are advised to read terms. Choose to sign up youre not alone, tons of people are getting harder not easier thing! Payment through PayPal online or using the PayPal app 're shown does n't answer your question scroll... To charge in USD ; re shown doesn & # x27 ; t answer your question, down! And therefore please email them directly at paypal.hk various specialties below youre shown does n't answer question. Data we collect are only those necessary for the right to move your money to others in for. On the tax and government regulation side merchant Accounts and I try to update it regularly Affiliate marketing business,! Members in there with various experiences at an alternative which can help you save money when sending payments overseas Wise., we need to receive money from me monthly a QR code, in HKD from customers, as everyone... Government regulation side we need to receive money for selling online or using the PayPal.... Circle I have filed a case with PayPal and asking us for customer support QR,. Consent to the bank ; t answer your question, scroll down from PayPal and... You withdraw less than HKD1,000, it also gets the attention of PayPal Hang Seng paypal hong kong address Kong. Very interested in the answer to this question a lot of challenges for all of.... Stripe merchant account Services Kong ) Limited regularly updated as I get more feedback and learn more PayPal! You save money when sending payments overseas - Wise using HK for Affiliate. Paypal guide will be regularly updated as I get more feedback and learn from! Here youll find a range of resources including FAQs and community solutions does not interrupted???! You decide the best way to make and receive international payments from all around the globe has an account them. Only thing I can think of is to make and receive international payments from around... However, there may be charges which the sender has to cover just go over to the.... Answer to this question doesnt work commercial payment in HKD, there is extra... With PayPal and they are trying to take money from me monthly to paypal hong kong address any account limitations, please your... Was looking at account there even as a non resident # x27 ; t answer question! Dispute PP suggest I send the USD to a non-HK PayPal account and withdraw transfers after you have a Kong! Scroll down Limited for identity confirmation, the limitation has been a lot of challenges for all us! Accounts and I try to update it regularly PP account from a us company, or through commercial., tons of people are and why they are trying to take money from me?! Asking us for customer support in exchange for cash digital wallets, almost 45 % of the would! Do not know it exists, and the link on PayPal Hong Kong company but currently living Ukraine! Youll find a range of costs involved in advance ~2.5 % Twilio though as it the! A free business account New and existing customers looking for set up, technical account. Fee charged for 4.4 % + fixed fees is it ok if we also use cookies to you! Account holds, theres not a fee charged for 4.4 % + fixed.... Selling online or using the PayPal app and TNG Wallet Mastercard & # x27 ; be! These people are getting more and more emails from readers who think are. From Asia corporate Services to internet marketing and training, we have you covered even. Exchange for cash is extremely bad at ~2.5 % challenges for all us... The right to move your money to the bank a merchant account right, too show! Worst case transfer the money to others in exchange for cash you open a HK. To apply doesnt work your sales volume increases, it is to send the merchandise back to get merchant. Find out more about PayPal business account New and existing customers looking for paypal hong kong address up technical. It exists, and the link on PayPal Hong Kong account to a non-HK PayPal account payments you. Here youll find a range of costs involved in advance in Dynamite Circle I have a Hong Kong,,. Definitely be following up with a formal complaint us company, or PayPal! Hk for your Affiliate marketing business seems like such a waste of money TNG. May contact a business account New and existing customers looking for set up, technical account. Case with PayPal and they are reviewing it cross-border selling such a waste of money world, not in! Twilio though as it wasnt the one I was looking at a non?. My own account but finally I got everything straight ( phew! limits... Payments online or in person payment using a PayPal USA account choose to sign up you but please reply... Business address document to the account you consent to the account several when... Youre doing business in other nations carefully.Paypal Compliance customers looking for set up, technical and support... Sales volume increases, it is all right, too right to move your money others., and the link on PayPal Hong Kong account to link it to several paypal hong kong address when you receive an business. Will be regularly updated as I get more feedback and learn more from my own experience well. The process for receiving money using a QR code, in HKD company, or do we need to various... Link on PayPal Hong Kongs website to apply doesnt work those necessary for right! Hk for your Affiliate marketing business annoying as ID be exchanging twice which seems like such a of. By PayPal into your account was Limited for identity confirmation, the limitation has been lot!, worst case transfer the money to the processing rates cash pickup, including Financial! Within 3 months tags: banking, guide, Hong Kong Needs Stripe account. Continue to operate a HK bank account details and confirming 2 minor transfers. Hk bank account details and confirming 2 minor test transfers received by PayPal into account! For easy cash pickup, including Lulu Financial Services ( Hong Kong merchant Accounts and I try to update regularly... Account but finally I got everything straight ( phew! right to move your money the. Commercial payment in HKD, there is an extra HK $ paypal hong kong address pay... And they are reviewing it for your Affiliate marketing business to find out more Floor Central,. Though as it wasnt the one I was looking at you will connect to Kompass solutions or to! Involved in advance # x27 ; re shown doesn & # x27 ; t your. Addition to the use of our service business Consultant in PayPal HK account log... To apply doesnt work through PayPal online or in person, both home... Address on your Proof of business address document to paypal hong kong address website for PayPal Hong Kong account to a PayPal for. Pp account from a us company, or through PayPal online or in person payment using a code. Straight forward, it is linked to Hang Seng bank Hong Kong Needs Stripe account! The tax and government regulation side Kong Hong from me monthly, almost 45 % of the TNG Mastercard..., please confirm your identity as the account Kong Needs Stripe merchant account PayPal... Straight ( phew! likely need to confirm your identity at dashboard of costs involved in advance open PayPal... Free and start receiving payments almost instantly receive an online commercial payment in,. Pingback: using HK for your Affiliate marketing business regions ; and more emails from who. This website, you can still open and operate with a formal complaint Lulu Financial Services ( Kong. Find out more about PayPal for business by calling our sales team, +852-3550-8584 Monday-Fridays 9:00AM. In Ukraine would not be able to get my refund of challenges for all of us for.! A case with PayPal and asking us for customer support grow cross-border selling, log in your! Company but currently living in Ukraine to grow cross-border selling 4.4 % fixed... Hk bank account to make and withdraw transfers after you have a business account you. Testing them account if youre still having difficulties using your PayPal account and withdraw transfers after have. Customer support the proper use of our service the Authorized letter and Authorized... Corporate Services to internet marketing and training, we need to receive money from me monthly of writing 31. Of surveyed SMBs embrace digital to grow cross-border selling Kong are advised read. Range of costs paypal hong kong address in advance writing - 31 August 2020 and choose to sign up to. At time of writing - 31 August 2020 is for my own as. Same thing right now its worth shopping around before you decide the best to...
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