Whether you are local or global, we are here to support you. Shop Now Pay with your preferred card Link all your cards and choose which one to use at checkout. 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. As always, if you need help or have any questions, email us at compliance-apac-KYC@paypal.com. The Kompass B2B portal helps buyers and reliable suppliers connect and do business both locally and overseas. For general country-specific offerings and limitations, see PayPal Offerings Worldwide and visit your country-specific site. While the technical ability is straight forward, it is complicated on the tax and government regulation side. Please also update the address on your Proof of business address document to the account. HONG KONG, January 6, 2022 - The pandemic has brought significant challenges to Hong Kong businesses, but a recent PayPal study reports that small-and-medium-sized businesses (SMBs) in particular have emerged from this unprecedented event with a positive story to tell. 15th Floor Central Plaza 18 Harbour Road Rooms 1506-07 Wan Chai HK. No surprises and no hidden costs. This is because they do not want to make it too difficult for you to get started selling on Paypal in your early days. Dont know who you are but why yall talking money out my account, Pay, shop, and do even more on the PayPal app. I hope you can help me, thank you very much in advance, Global From Asia is a Media Brand Owned And Operated By Shadstone SEO Services. HI Chaze, A lot of our clients are getting this as well as myself personally. I have a bank account with HSBC Hong Kong but all my statements are electronic. Signing up is pretty straight forward like any other Paypal in the world. PayPal business accounts also known as merchant accounts have separate personal account charges with PayPal. Theres also a markup on the exchange rate used. 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. Depending on the issue and whether or not you're logged in, you'll see an option to message us, call us, use the PayPal chatbot, or ask . Thanks in advance. 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 Like you mentioned, and like many others, PayPal requires verification documents from me now. In the meantime, you can still open and operate with a Paypal HK account. If you need to reach us, simply click Help on any PayPal page. 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? 18 Harbour Road PayPal is a nightmare, my best advise is to stay away from it. I have a HK mobile phone plan that I use traveling abroad, may be worth the investment? I actually use Stripe to accept USD and pay to my USD bank account with HSBC in Hong Kong. Open, click and follow the links in this message to get started. Another solution is try to not withdraw any. 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. Thanks for your fast response. Theres just a transparent charge per transaction, and you can see upfront exactly how much the recipient will get. 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 . This guide walks through the costs of making an online money transfer with PayPal, including the upfront charge and currency conversion fee. By browsing this website, you consent to the use of cookies. In compliance with regulatory requirements in your country, we need to confirm your identity as the account owner. It is jam packed with everything you need to know from setting up your Hong Kong limited company. Its worth noting that there may be fees to pay - either by the sender or the recipient - for PayPal money transfers. 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. Generally, with whatever currency your account holds, theres not a fee charged for sending money from your PayPal account. This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. 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. You will notice when you are trying to withdraw USD in your PayPal account to your HK bank account, the transaction page converts the USD in PayPal to Hong Kong dollars. 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. Youll first be guided through these to try to find the answers to your questions independently. View all Cash Pick-up locations I have a local Hong Kong Paypal account. 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). PayPal will carry out currency exchange for you - but youll need to pay a 4% Currency Conversion Fee on top of any other charges levied. Shopping online has never been this easy. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. 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? Cant get farther response from Pp.. This is a small charge set according to currency. 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. I received a notice Youve reached a usage milestone, wherein youve used your PayPal balance to send payments exceeding $5000 SGD in a year. Reviewing Neat Online HK Business Banking & Connect Your Paypal/Stripe - Product Reviews, A signed authorization letter to handle the PayPal Business Account (Paypal Sales Rep will attach it). Ok, but seller want it sent to Hong Kong. Pingback: The Story of Neat Hk Developing in Hong Kong to Help the Banking Market with David Rosa and Igor Wos. To help you find the best possible way to make your international payment, weve compared PayPals rates and fees with an alternative provider - Wise. But one thing you can take care of is that when you submit a personal/commercial transfer that also includes currency exchange, a markup of 4 percent would be paid from you for the retail exchange rate. The last thing I need, however, is to now continue doing free withdrawals and then in 12 months have paypal telling me theyre going to collect several thousand dollars in withdrawal fees for my withdrawals over the last 12 months. Can you transfer your Paypal Hong Kong Account to a Paypal USA account? Pingback: A Solution for the Hong Kong Banking Nightmare? Pretty scary right! But all funds coming in will be converted to HKD automatically. But later on, if you want Paypal Hosted Solutions (virtual terminal) or your volume is picking up, Paypal may ask for address verification to protect themselves. I have given them everything except one document: a proof of business address in HK in the form of a utility bill. I got the automated email titled "You sent an automatic payment to <removed>. Just discovered i have been swindled out of $39.99 a month since January 2022 from this company for i have no idea what!! 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. 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. The League of . How easy it is to withdraw funds transferred into PayPal? 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? yes youre not alone, tons of people are getting the same thing right now. 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. 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%. There will only be a nominal fee of HKD3.5 to pay for your bill. Seller advertised that they are located in Canada on Facebook. And, worst case transfer the money to others in exchange for cash. 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. You can receive money through PayPal in a variety of different ways. Please refine your search by(Localization + What, who? If you transfer your current bank account to use your Hong Kong address, you should receive your next bill at your Hong Kong residence. Only by demanding an electronic transfer to it can you directly transfer the money from the bank account to which you connect. like 3% ish total? - Tommy PayPal Merchant Reactive Risk The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe) Tuesday, August 6, 2019 Just after i have successfully requested a deposit from customer, paypal sent me an email telling me they will "reserve" the fund collected pending internal review. Cancelled the subscription from within paypal but i will definitely be following up with a formal complaint. Id respect it if it was a flat fee of say $20-30 fee like a wire fee, but 2.5% on 10,000 USD? Just go over to the website for PayPal Hong Kong and choose to sign up. 4. we have a blog about alternatives https://www.globalfromasia.com/cross-border-payments/. The fee is, as you say, crazy. 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. Check out the below media formats we currently have and are constantly finding more ways to share knowledge and connect with you. Sorry you mentioned this in your article. anyone overcome this crazy conversion rates? [removed] Seems sketchyhttps://www.chamspy.com/ [removed] [removed]. Most people do not know it exists, and the link on Paypal Hong Kongs website to apply doesnt work. Fake reviews.6. Thanks in advance. It is a hot topic that people want to connect their Paypal Hong Kong to non-Hong Kong banks. Hi. Taking money out is a rather tricky part. Good work, really good work driving your customer away. Find out more about PayPal for Business by calling our sales team, +852-3550-8584 Monday-Fridays from 9:00AM to 6:00PM*. New to the community? 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