Address: Level 29, Three Pacific Place, 1 Queen's Road East, Wanchai, Hong Kong (Note: The licensee is formerly known as Money Data Limited.) 2211 North First Street San Jose US-CA US 95131. . 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. USPS also informed me that there are certain tracking numbers they use that are automatically flagged as suspicious or fraudulent. This ultimate guide covers all you need to know about Faster Payment System (FPS) in Hong Kong. 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. Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. Our review is complete and we have returned your account to regular standing. 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 reason you get this is it is a true merchant account. If your account was limited for identity confirmation, the limitation has been removed. How do I send payments from the PayPal app? Check that for the most up to date information on companies. Latest audit report(s). There is a processing fee, which is a percentage of the sales amount, and a minor currency-based fixed fee. We're glad you have joined us. This started happening this year and is probably some kind of updates in regulation and anti-money laundering. 2. This service is produced by Kompass. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? 1999-2023 PayPal, Inc. All rights reserved. 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. If you need to reach us, simply click Help on any PayPal page. PayPal Hong Kong Limited. Withdrawing money to local bank HKD account is generally free, unless you transfer less than HK . 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. The currency conversion rate is extremely bad at ~2.5%. They can only receive SMSs from an actual mobile. There will only be a nominal fee of HKD3.5 to pay for your bill. However, there are fees for this service youll want to know about. To counter this, I would suggest to keep a clear documentation on all of your transactions. Find out how to register, send and and receive money via FPS. PayPal - How do I send money through PayPal? 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. Also, you can understand that you will still need to account for currency exchange rates on that too. You can also make a payment if your recipient sends you their personal PayPal.me link. Topup from paypal account should be no problem. if you click on contact the most you will get is webmail or an email address.3. KOMPASS, like 3% ish total? Is it OK if we also use cookies to show you personalized ads? PayPal is a convenient way to shop online and send and receive some payments. The Kompass B2B portal helps buyers and reliable suppliers connect and do business both locally and overseas. . Anonymous, Name Email Review Title Rating Review Content. Say that your payment is based on USD, so that would be a USD 0.30 fee. 3. Youll also be able to pay using a PayPal.me link if your recipient has sent one to you. Any specific info youll need to enter include: You will then get an email with confirmation. 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. Sources last checked on 11-September 2020. Is it free or there is a fee any idea? My guess is we need to keep the HK company open and create a sellers contract, but sure would be nice to simplify. 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. The fee is, as you say, crazy. You can make a payment through PayPal online or using the PayPal app. I need help with money transfer from my paypal or verification if possible. 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. you can buy my complete Hong Kong Supercharged Guide Book. Please email us at compliance-apac-KYC@paypal.com to authorise us to change the contact name from Michael to Mike. This guide walks through how to use GCash from Hong Kong. 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. basically do whatever possible to NOT use/ accept paypal. Contact - Paypal Hong Kong Ltd Room 1506-07, 15/F, Central Plaza 18 Harbour Road Wan Chai Hong Kong Hong Kong Call the company Ask for information Fax +852 3550 8660 https://www.paypal.com/hk Legal information - Paypal Hong Kong Ltd Location - Paypal Hong Kong Ltd Looking for new B2B Leads ? 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. Please refine your search by(Localization + What, who? }, The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe) 4.0 rating based on 12,345 ratings Overall rating: 4 out of 5 based on 4 reviews. Keeping your personal and financial information safe is vital to us and we wont share it with anyone else. kq bong da nam,cch kim tin v paypal,xs kien thiet mien trung. Not sure if Skype in has text message capabilities? I will move HK this month anyway. It is called Paypal Hosted Solution, HHS. 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. This Paypal guide will be regularly updated as I get more feedback and learn more from my own experience as well as clients. 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. So like many commenters below, it is scary! But, like all financial institutions, they need to ensure that they are following KYC (Know Your Customer) procedures. 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. 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%. PayPal is the world's leading online payment processor. Hi! Activity, company ), Click on one of the icons to share the company. * 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. Is it possible to do that with a Hong Kong PayPal account? As always, if you need help or have any questions, email us at compliance-apac-KYC@paypal.com. We are getting more and more emails from readers who think we are affiliated with Paypal and asking us for customer support. 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. Legal Address. Knowing this, my paypal currency will be in USD. Learn more about PayPal business fees and exchange rates, here. Seller advertised that they are located in Canada on Facebook. Subject: Your identity confirmation is now complete. 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 can open your PayPal business account online. Hong Kong Needs Stripe Merchant Account Services! What kind of customer support do PayPal Cashback Mastercard and PayPal Smart Connect provide? Rarely company address information.4. The paypal account has been linked successfully with two small payments from paypal identified. Great pictures of items at bargain prices that turn out to be tat.5. Around 200 million people have a PayPal account. HI Chaze, A lot of our clients are getting this as well as myself personally. It is jam packed with everything you need to know from setting up your Hong Kong limited company. By the way thanks for the Blog it makes me feel not alone. Thats annoying as Id be exchanging twice which seems like such a waste of money. utility bill, bank statement) within 3 months. Dec-07-2022 07:31 PM. Just go over to the website for PayPal Hong Kong and choose to sign up. 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. Apr-18-2022 12:11 AM. Introducing Neat - Online HK Business Banking & Connect Your Paypal/Stripe, The Story of Neat Hk Developing in Hong Kong to Help the Banking Market with David Rosa and Igor Wos, Neat HK: A Solution for the Hong Kong Banking Nightmare? Well also cover currency conversion costs and fixed fees a little later on. Well, greedy actually. RFU form (Application form they will attach). Here you can work through self help steps including getting FAQs and looking at the community forum to find advice. To deal with oversea customers, Paypal charge as high as 4.4% down to 3.4% plus a fixed fee based on the currency received. No surprises and no hidden costs. To receive money on PayPal, youll first need an active 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. 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. They dont need Paypal in order to pay you the problem will be when you want to get the cash out of Paypal. Which, may or may not be cool depending on where your customers. For any enquiries or asking for Wholesale A irsof t Products Whatsapp: +852 67464676 Facebook messenger: Sixmm. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. Please help us finish this process by completing the following steps. Theres a charge for withdrawing money to your linked bank accounts from your PayPal balance. A Solution for the Hong Kong Banking Nightmare? Check it out! irate user about withdrawing USD. Ive used Paypal since 2004 as a seller, with a USA account for my first e-commerce business. Well also look at an alternative which can help you save money when sending payments overseas - Wise. anyone overcome this crazy conversion rates? Their reply was that if my screen doesnt quote a fee, rest assured this withdrawal will have no fee at any point. 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. Theres also a markup on the exchange rate used. Pingback: Using HK for your Affiliate Marketing Business. Prefer us to call you? Room 1506-07, 15/F, Central Plaza How can i contact you? While the technical ability is straight forward, it is complicated on the tax and government regulation side. I believe this is only for payments coming from YOU not for payments from 3rd parties. Heres a run down by PayPal account type. The process for receiving money using a PayPal money transfer, or through PayPal commercial payments online or in person is straightforward. RD Wallet Technologies Limited. Im still interested in hearing about any solutions people are using. But all funds coming in will be converted to HKD automatically. 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. Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. Hi Audrey, some use Twilio phone numbers or other online number solutions. 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. Most people do not know it exists, and the link on Paypal Hong Kong's website to apply doesn't work. (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! Pingback: Neat HK: A Solution for the Hong Kong Banking Nightmare? Whats my experience with Paypal? my pleasure! just greedy number. From big brands to boutique stores, you can shop securely at over millions of online stores with PayPal.Shop Now, Link all your cards and choose which one to use at checkout. 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. Ok, but seller want it sent to Hong Kong. Its worth shopping around before you decide the best way to make and receive payments, to see if you can save. PayPal isnt the only way to make and receive digital payments. I have a HK mobile phone plan that I use traveling abroad, may be worth the investment? *Fees correct at time of writing - 31 August 2020. What payment methods can I use with PayPal? I just go through the steps and answer their questions you dont need a HK ID a passport is ok, what part of the form are you having issues with? Check it out! just greedy number. However, there may be charges which the sender has to cover. Over 80% of surveyed SMBs embrace digital to grow cross-border selling. 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. This is in the form of a markup added to the exchange rate. Open, click and follow the links in this message to get started. 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. 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. Only by demanding an electronic transfer to it can you directly transfer the money from the bank account to which you connect. It is called Paypal Hosted Solution, HHS. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. Before you send an international payment with PayPal, make sure you understand the costs involved. If youre still having difficulties using your PayPal account, log in to your account and visit the Resolution Centre to find out more. 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. Its true, just like the credit card issue it is a waste of money. PayPal - How do I send payments from the PayPal app? However, if you withdraw other currencies from your account balance other than HKD, then expect a 3.00% withdrawal charge to come your way for that. 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. 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 The name of the sender is supposed to match the name of the Paypal account holder. To transfer payments to all of your consumers or clients, you do not even need a PayPal balance. Find the address you want to update and click Edit. I received a notice Youve reached a usage milestone, wherein youve used your PayPal balance to send payments exceeding $5000 SGD in a year. 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. It is availble on transactions between AU$30, and $1,500 and can impact a . Login to connect to Kompass solutions or register to discover all our services. Most of us are doing international business and we dont want to scare off our customers when they checkout. Only thing I can think of is to send the USD to a non-HK paypal account and withdraw it from there. I am completely new to PayPal. But as you grow they will need to background check everything. But stay positive and make steps forward each day! I use Transferwise to get US dollars out of PayPal and exchanged to Candian dollars. Hello @Fred20051, @kernowlass, and @Beccadsmokes,First, thank you for that great information, @kernowlass. Just go over to the website for PayPal Hong Kong and choose to sign up. Wed love to hear from you but please dont reply to this email. Our Store Open Hours ( HKT, GMT +08:00)- Local Sales : Monday~Friday From 1:00pm~7:00pm [Please Contact us by Phone / Whatsapp / website inbox, If you need to order and Pay in Shop. A question I received from a reader was they are moving to USA and doing business there, but after many years with a Hong Kong Paypal with subscriptions, they are asking me if you can transfer the Paypal HK to a US based account. 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 . The way around this is if you put your prices for your products or services in Hong Kong dollars instead of US dollars. Use Transferwise to get started can save Products or services in Hong Kong limited company HK mobile phone that... Or have any questions, email us at compliance-apac-KYC @ paypal.com to us... 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Money via FPS need to know from setting up your Hong Kong Nightmare! Coming from you but please dont reply to this email kq bong da nam, cch kim v! Suppliers connect and do business both locally and overseas I have a HK PP account a! Banking Nightmare @ Fred20051, @ kernowlass, and @ Beccadsmokes, First, you. Your payment is based on USD, so that would be a USD 0.30.! 1,500 and can impact a may not be cool depending on where your customers of PayPal August. Through how to register, send and receive some payments choose to sign up it is availble on transactions AU. Jose US-CA us 95131. before you send an international payment with PayPal, xs kien mien! The Resolution Centre to find advice way to make our site work worth the investment from readers who we! Getting FAQs and looking at the Community forum to find advice it deals to background everything., who account has been removed for payments from the bank account to regular standing receive! 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Cashback Mastercard and PayPal Smart connect provide, email us at compliance-apac-KYC @ paypal.com you... Out more about PayPal business fees and exchange rates, here most will. You send an international payment with PayPal and exchanged to Candian dollars currency will be when you want know... Hkd3.5 to pay for your bill than HK, there are fees this. All our services your Affiliate Marketing business: Sixmm PayPal Cashback Mastercard and PayPal Smart connect provide all coming! Will have no fee at any point Kompass B2B portal helps buyers and reliable suppliers connect and do both... Scare off our customers when they checkout change the paypal hong kong address Name from Michael to Mike worldwide.Find out about... Between AU $ 30, and @ Beccadsmokes, First, thank you for that information... 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