When you make a business payment overseas, there are different costs - some of which are covered by the recipient. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? New to the community? This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. Learn more about PayPal business fees and exchange rates, here. 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. anyone overcome this crazy conversion rates? Will I be able to get a merchant account there even as a non resident? 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. If you haven't filed a dispute case yet, you can find the instructions to open an Item Not Received dispute on our Help Center here: How do I open a dispute with a seller? Check out AureliaPay now! Paypal Hong Kong Limited is directly consolidated by Paypal Holdings, Inc. Request a call back from our sales experts today. But, like all financial institutions, they need to ensure that they are following KYC (Know Your Customer) procedures. 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. You can accept credit cards on your own website in your own shopping cart without redirecting to the Paypal website. Yet we all hear the horror stories about your account getting frozen or closed by Paypal. 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. 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. Just go over to the website for PayPal Hong Kong and choose to sign up. Youve already completed the following actions as part of our review: Weve received acceptable copies of the following documents or information: -> Identification document -> Proof of business address document -> Business registration certificate -> Letter of authorisation -> List of the beneficial owners and office bearers of your business -> Identification documents of the benficial owners. UPS refused and stated address is fraudulent and would cost over $100 to send more than what I paid for merchandise. If you receive an in person payment using a QR code, in HKD, youll pay an extra HK$0.80. It is in another name! Permanent ID copy of person(s) signing the Authorized letter AND each authorized signer. GFA has full service options for various specialties below. Terms and conditions apply.Find Out More. The League of . While adding a markup to currency exchange rates is common, not all providers do so. The fee will always be mentioned upon withdrawal. For a phone number, try a Skype IN number for like 25 usd every 3 months and it can forward. Thank you so much for all the information on your blog, it is really helpful! I collect mostly USD from my clients, dont really need HKD, are there any ways to get a lower rate closer to US rate? 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 blog about alternatives https://www.globalfromasia.com/cross-border-payments/. Ya this is a painful for those who are receiving USD into Hong Kong and then avoiding the mandatory conversion to HKD by sending to a US bank. For general country-specific offerings and limitations, see PayPal Offerings Worldwide and visit your country-specific site. 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 this is the last part that is needed. 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. I am temping for a company based in UK for an ad-hoc job. Looking for PayPal Business Solutions? This guide walks through how to use GCash from Hong Kong. Lets help each other out and share tips and strategies in the comments below! Log in to your PayPal account. With one single account number, HSBC Business Direct combines a range of deposit and investment1 accounts so that you can effectively manage your companys finances: Hong Kong Dollar Savings Hong Kong Dollar Current Foreign currency savings available in 11 currencies including Renminbi (RMB), US dollar (USD), Euro (EUR), pound sterling (GBP), Australian dollar (AUD), New Zealand dollar (NZD), Japanese yen (JPY), Canadian dollar (CAD), Singapore dollar (SGD), Swiss franc (CHF) and Thai baht (THB). How do I send payments from the PayPal app? Again, if you withdraw any currency other than USD, assume GBP, then the possibilities are there will be a small extra processing charge on your transaction for currency exchange. If you need to reach us, simply click Help on any PayPal page. Step 3: Select a convenient location for easy cash pickup, including Lulu Financial Services (Hong Kong) Limited. Also check out Global From Asia Reviews for more options and alternatives we add as many as we can on a regular basis! If the information youre shown doesn't answer your question, scroll down. 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%. Of course Paypal wants you to grow and succeed, that means they are making more money too! For Hong Kong-based customers, you will eventually need to pay an amount of 3.9% + $2.35 HKD per transaction. Click on the link and follow the onscreen instructions to make your payment using your PayPal balance, linked bank account, or card. For any enquiries or asking for Wholesale A irsof t Products Whatsapp: +852 67464676 Facebook messenger: Sixmm. You can open your PayPal business account online. Say that your payment is based on USD, so that would be a USD 0.30 fee. 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. Interested in the TNG Wallet Hong Kong? If Paypal insists on banking HKD only, why not simply m=have a merchant account that feeds into my HK account in the currency in which it is received? To receive money on PayPal, youll first need an active PayPal account. The data we collect are only those necessary for the proper use of our service. Learn more here. Your HSBC e-statement should enough. It could be that the error is shown only at some times, or that the error is not shown all of the required times. 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. 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. To collect payments through email, social media, and instant messages, you can use a PayPal link. Dear Michael, thanks for the prompt reply! It is availble on transactions between AU$30, and $1,500 and can impact a . Cambodia doesn't operate pay pal. How is your experience using Paypal in the Hong Kong business market? While you received their cash or transfer you could deny that the products or services were delivered and then that person may have the money retracted from their account. China - Mainland, Hong Kong, Macao, Taiwan regions; . 2211 North First Street San Jose US-CA US 95131. . If you have a problem with your PayPal account, the first thing to do is head over to the PayPal Contact Us page. Why was I mistaken. Making an online money transfer with PayPal Hong Kong is easy enough, but it can be relatively expensive once you take into account all of the fees. This mailbox is not monitored and you will not receive a response. If you need to send or receive an international payment online you could be better off using a specialist service like Wise. 1999-2023 PayPal, Inc. All rights reserved. 2 people found this solution to be helpful. . (Hardest time/ task ever just to get my money back). The "PayPal Merchant Reactive Risk" staff spend more time asking me to take the business elsewhere than helping me to anticipate the review process. I was reading about one online SMS solution yesterday before posting here, but it said it cant do bank authorisation SMS receival because they are generated through an online system. Support can be reached by clicking 'Contact' at the bottom of any PayPal page or sending a DM to @AskPayPal on Twitter or a PM to facebook.com/PayPal. 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. Latest audit report(s). So hope you feel I am qualified to share with you today the experiences as a seller using Paypal from a Hong Kong company. PayPal isnt the only way to make and receive digital payments. For all budgets and expectations, we work hard to give you the ultimate experience for growing your business network and knowledge. As business owners, we all have a love and hate relationship with Paypal. Is it possible to do that with a Hong Kong PayPal account? 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. 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. 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. Hi, I started an eCommerce company in Hong Kong and am sorting out the bank stuff now. 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. Chances are you may need to use various foreign currencies with your PayPal business account if youre doing business in other nations. So like many commenters below, it is scary! There is a processing fee, which is a percentage of the sales amount, and a minor currency-based fixed fee. Ok, but seller want it sent to Hong Kong. It is a hot topic that people want to connect their Paypal Hong Kong to non-Hong Kong banks. 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. Can our Hong Kong Company register a bank account in the United States, is this a feasible option to get around this problem? 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. So theyre picking and choosing at the moment, sometimes they charge a fee, sometimes not, but if there is a fee, the screen will say so. 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? This is a small charge set according to currency. Youll pay several fees when you receive an overseas business payment from PayPal. It is something I am asked quite a bit and am happy to be sharing with everyone to get rid of the worry and hesitations of setting up a company in 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. Find out how to register, send and and receive money via FPS. 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 like 3% ish total? 2888240). Interested in the TNG Wallet Hong Kong? 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. Dont know who you are but why yall talking money out my account, Pay, shop, and do even more on the PayPal app. Withdrawing money to local bank HKD account is generally free, unless you transfer less than HK . Before you send an international payment with PayPal, make sure you understand the costs involved. This a feasible option to get a merchant account there even as seller! 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