These are the basic steps to setup in Paypal HK: Congratulations, you now have a verified Paypal Account! 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. The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. Options. Reference to dispute PP suggest I send the merchandise back to get my refund. I would also be very interested in the answer to this question. 2. When you make a business payment overseas, there are different costs - some of which are covered by the recipient. 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%. 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. For Hong Kong-based customers, you will eventually need to pay an amount of 3.9% + $2.35 HKD per transaction. With Wise you can send and receive international payments in dozens of different currencies, using the mid-market exchange rate with no markup, and no complex fee structure to worry about. - Meghan. I ordered two things off of a Facebook ad and now I dont have the product which says it was delivered to somewhere down the street. However, there are fees for this service youll want to know about. Say that your payment is based on USD, so that would be a USD 0.30 fee. And, worst case transfer the money to others in exchange for cash. SVF0008. Which, may or may not be cool depending on where your customers. It's been one of the most popular online payment services for years, which is why it's such a popular target for phishing scams. Learn more and manage your cookies, Fix transaction and account related issues, Join the discussion with PayPal customers, Get help with using any of our PayPal products, Find out how PayPal works for your business. PayPal is a nightmare, my best advise is to stay away from it. 1999-2023 PayPal, Inc. All rights reserved. More updates from Sam. Check out our complete guide to registering and using PayMe from HSBC. Check if you had a subscription set up.Click on the profile tab (icon next to log out) > Click on payments third option along on the thick blue band top of page > "manage pre-approved payments. Whether you are local or global, we are here to support you. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Jul-08-2020 04:37 AM. Just go over to the website for PayPal Hong Kong and choose to sign up. Representative-Hong Kong/ Worldwide Areas. Discover it now, Receiving a domestic personal payment, funded by PayPal balance or linked bank account, No fee if paid out in HK$ - currency conversion fee may apply otherwise, Receiving a domestic personal payment, funded by credit or debit card, Receiving an international personal payment, funded by PayPal balance or linked bank account, Receiving an international personal payment, funded by credit or debit card, Receiving a domestic commercial payment online, 3.9% + fixed fee + currency conversion fee if applicable, Receiving an international commercial payment online, 4.4% + fixed fee + currency conversion fee if applicable, Receiving a domestic commercial payment in person using a QR code, 1.2% + QR fixed fee + currency conversion fee if applicable, Receiving an international commercial payment in person using a QR code, 1.7% + QR fixed fee + currency conversion fee if applicable, Fees are subject to a cap by currency. From my experience the quick answer is No. Further to these requirements, we need to collect additional information from you. We appreciate all of your hard work in the Community! you can buy my complete Hong Kong Supercharged Guide Book. Product PayPal Innovation Technology. Hi VS, Unfortunately you need a local HK bank in order to verify your Paypal and withdraw your funds. we have a blog about alternatives https://www.globalfromasia.com/cross-border-payments/. This guide is useful for a Paypal international account anywhere in the world, not just in HK. Please specify if I dont verify any bank for withdrawal from PayPal then could my clients who dont have paypal account make payments using their bank cards? If you find out otherwise please let me know. If youre concerned about opening up a business account here in Hong Kong, it could be on the top of your to-do list to get the processing work sorted by getting a PayPal account ready for your customers. But, if your clients are overseas, then you'll be charged for 4.4% + fixed fees. Not sure if Skype in has text message capabilities? 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. Learn more here. Introducing Neat - Online HK Business Banking & Connect Your Paypal/Stripe. Include audit reports of your parent company, associated companies and subsidiaries. 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 Those usually begin with a 44, Pay, shop, and do even more on the PayPal app. As we know, getting a bank account in Hong Kong has been troublesome. 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. The main issue is proof of address and phone numbers. 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. Please read our Community Rules and Guidelines, Pay, shop, and do even more on the PayPal appGet the App. Prefer us to call you? 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. [removed] Seems sketchyhttps://www.chamspy.com/ [removed] [removed]. Thanks for your fast response. Its worth noting that there are fees to pay when sending money to friends and family abroad with PayPal. Check out Wise as a smart, simple way to cut the costs of sending and receiving money from overseas. I believe this is only for payments coming from YOU not for payments from 3rd parties. Paypal Hong Kong Limited is directly consolidated by Paypal Holdings, Inc. Will I be able to get a merchant account there even as a non resident? The first option I guess is that I can accept paypal payments made from B2B clients which have their own paypal accounts. Can our Hong Kong Company register a bank account in the United States, is this a feasible option to get around this problem? But requested that merchandise be send to Kong Hong. Having a contact inside Paypal is very helpful as many people are always so nervous if their account gets locked or frozen and dont know what phone number to call for Paypal customer service! I personally dont withdraw much of the funds from Paypal to avoid the currency conversion. This is so you only need to convert the funds once. Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. I actually use Stripe to accept USD and pay to my USD bank account with HSBC in Hong Kong. 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. Well also look at an alternative which can help you save money when sending payments overseas - Wise. Room 1506-07, 15/F, Central Plaza People need to have some local HK connections nowadays to best do it. I just want to transfer the location of my accoun. 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. Ok, but seller want it sent to Hong Kong. I have opened my first one outside of USA in early 2008 and have had accounts with them in Hong Kong, UK, China, and of course USA. Crazy. 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). 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. Click Profile at the top right corner of the page. anyone overcome this crazy conversion rates? PayPal for business The world is your shopping mall From big brands to boutique stores, you can shop securely at over millions of online stores with PayPal. @Fred20051 and @Beccadsmokes, welcome to the Community! It is in another name! The way around this is if you put your prices for your products or services in Hong Kong dollars instead of US dollars. Yet we all hear the horror stories about your account getting frozen or closed by Paypal. While you cant connect it to the European bank, we have some resources who can manually collect for you and wire it over. But stay positive and make steps forward each day! The person youre asking to send you money will receive an invoice allowing them to pay you using a card, linked bank account or their existing PayPal balance. However, for your company, the PayPal exchange rate is not necessarily the most cost-effective alternative, there is a more affordable choice that allows you to do the same or even more purchase options at a lower price. If the information you're shown doesn't answer your question, scroll down. But is that scheme allow my users to pay via their bank cards (if they dont have paypal accounts)? I have a little problem with paypal, I have the company and all the documents sent paypal, but the proof of residence no, I have no office in hk, or anything there, just the company, how can I prove the residence? If you open a Paypal HK account, youll need a HK bank account to link it to! We have a Remittance Partner Recommendation. Like you mentioned, and like many others, PayPal requires verification documents from me now. PayPal automatically puts in the HK country code before a mobile number. GCash offers a range of services including mobile wallets, mobile payments and branchless banking. The League of . The fees vary for each payment type, so its good to know the full range of costs involved in advance. Heres another message from one (can I say?) This is a small charge set according to currency. 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. Is this your business? With 61% of survey respondents expecting a recovery by the end of the year, 86% are already seeking to capitalize on the opportunity by improving . Wise is the trading name of TransferWise Limited, which is licensed in Hong Kong as a Money Service Operator by the Customs and Excise Department, licence number: 15-01-01584. Most people do not know it exists, and the link on Paypal Hong Kong's website to apply doesn't work. Your article here seems to say you dont need to be, but that clashes with what I have read other place. You will need to visit the PayPal Hong Kong website and follow the measures outlined to get in contact with PayPal. Kindly checkout this link for our contact information: https://www.globalfromasia.com/contact/. Rarely company address information.4. The site will look as if its in your country (where they despatch goods from) but they will ask for returns to go back to China (returns depot) at a shipping cost often more than the item is worth.2. Hello Michael, can i connect paypal hong kong account to Hang Seng Bank? 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. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? Where it all began! Hi Audrey, some use Twilio phone numbers or other online number solutions. Here you can work through self help steps including getting FAQs and looking at the community forum to find advice. You can add USD bank accounts to HK Paypal, and withdraw at Xero fee. POA (Proof of Address) is not required for getting this level of verification in Paypal. This guide walks through how to use GCash from Hong Kong. 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. Payment overseas, there are fees for this service youll want to about... 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