Also, I have an extensive guide and listing of Hong Kong Merchant Accounts and I try to update it regularly. No contact telephone number. You can receive money through PayPal in a variety of different ways. Step 4: Easily pay with Paypal, bank account, credit card, or debit card. Prefer us to call you? Click Profile and settings. Im still interested in hearing about any solutions people are using. Check out our complete guide to registering and using PayMe from HSBC. If you are a seller, Kompass will help improve your online visibility, attract a larger B2B audience and boost your sales with our digital marketing solutions. I am temping for a company based in UK for an ad-hoc job. 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. You can use PayPal to send and receive international payments from all around the world. 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. Please also update the address on your Proof of business address document to the account. For a phone number, try a Skype IN number for like 25 usd every 3 months and it can forward. It is in another name! Copy of your Companys Certificate of Incorporation (CI), Proof of address of your Company (e.g. Sources last checked on 11-September 2020. Contributor. It took about 3 or 4 emails back and forth. 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. 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 . Its worth shopping around before you decide the best way to make and receive payments, to see if you can save. Which, may or may not be cool depending on where your customers. We're glad you have joined us. .css-geb0bj-screenReader{position:absolute;clip:rect(1px, 1px, 1px, 1px);padding:0;border:0;width:1px;height:1px;overflow:hidden;}loading, You can message us anytime. Representative-Hong Kong/ Worldwide Areas. Fake reviews.6. Depending on the issue, you'll see an option to message us, call us, use the PayPal chatbot, orask the community. 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. (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! WeChat Pay Hong Kong Limited. All the lines are busy at the moment, please try again in a moment. By browsing this website, you consent to the use of cookies. The fee is, as you say, crazy. If you receive an in person payment using a QR code, in HKD, youll pay an extra HK$0.80. Does anyone have any good solutions? Click Profile at the top right corner of the page. Chinese Web Sites or on Social Media ads easy to spot (once you know the below signs) so buyer beware.1. Currency: HKD Bank Code: 055 Beneficiary Account Nbr: 757-81718071. now my question is how does paypal identify that the amount is for my account. 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. 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? Now its your turn to share what is your rating for Paypal Hong Kong. We appreciate your patience and thank you for making PayPal the better choice for sending and receiving payments.Paypal Compliance. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Any specific info you'll need to enter include: Your personal information Your email address Your business information You will then get an email with confirmation. There are some expenses you need to know about whether you have an online business and get paid by PayPal. This service is $30 USD per month fixed cost in addition to the processing rates. The goal is to show how strong the Company and/or Group is financially. Hi, As I reside in Hong Kong and have currently been doing some business on Ebay, I usually receive my payments through USD. And if you really love this article! Learn more here. Headquarters Address. It is called Paypal Hosted Solution, HHS. 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. Options. It is not intended to amount to advice on which you should rely. Choose New. To send and receive safe messages, you can log into your PayPal account, or find answers to popular questions in the FAQ section. Heres what you need to know. PayPal - How do I send money through PayPal? PayPal offers simple convenient services - but the costs of sending and receiving international payments can be high. But, like all financial institutions, they need to ensure that they are following KYC (Know Your Customer) procedures. Please email us at compliance-apac-KYC@paypal.com to authorise us to change the contact name from Michael to Mike. Can we continue to operate a HK PP account from a US company, or do we need to keep the HK company open? It is jam packed with everything you need to know from setting up your Hong Kong limited company. Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. So we will most likely need to charge in USD. Your article here seems to say you dont need to be, but that clashes with what I have read other place. Yet we all hear the horror stories about your account getting frozen or closed by Paypal. People need to have some local HK connections nowadays to best do it. 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. anyone overcome this crazy conversion rates? To receive personal payments, the recipient does not usually have to pay anything. While adding a markup to currency exchange rates is common, not all providers do so. The League of . 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. By the way thanks for the Blog it makes me feel not alone. Any thoughts Id love to hear them!From Dan. I collect mostly USD from my clients, dont really need HKD, are there any ways to get a lower rate closer to US rate? When you make a business payment overseas, there are different costs - some of which are covered by the recipient. The REST APIs support many countries for PayPal account payments if you have a business account. You will need to visit the PayPal Hong Kong website and follow the measures outlined to get in contact with PayPal. 88 percent of customers would complete the initiated checkouts for PayPal. If you have a problem with your PayPal account, the first thing to do is head over to the PayPal Contact Us page. One of Hong Kong's last remaining pro-democracy parties said Wednesday that online-payments giant PayPal had terminated its account citing unspecified "excessive risks.". 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. Great pictures of items at bargain prices that turn out to be tat.5. Tap Message Center . If you withdraw less than HKD1,000, it is all right, too. 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? 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. Hi Mike, this was really helpfull for me to register my paypal account and adding my bank account but, i have a question how much does it cost to top up money from hsbc to paypal ? You can also check for my latest podcasts on Paypal and other merchant accounts on the site here. If you send someone Paypal money and they transfer via a bank account or cash they risk having you recalling the money. To withdraw money from your PayPal HK account to your Hong Kong bank account, you must do this in HKD (Hong Kong dollar) currency. Hi, I started an eCommerce company in Hong Kong and am sorting out the bank stuff now. 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 emails will go something like this: Here at PayPal, were constantly taking steps to ensure that your experience is in line with regulatory requirements. Click Update beside Address. Sources last checked on 14-September 2020. To get started, open, click, and follow the links in that same message. 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. It is a hot topic that people want to connect their Paypal Hong Kong to non-Hong Kong banks. 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. 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. 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. It is not intended to amount to advice on which you should rely. just greedy number. However, the costs can be relatively high for international and commercial transactions. Pretty scary right! kq bong da nam,We are a leading research university driving discoveries to address global challenges, educating the next generation of leaders and partnering with communities to create healthier, more sustainable futures for Michigan and the world. RD Wallet Technologies Limited. 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 you send money overseas with PayPal, youll usually need currency conversion so your payment is made available to your recipient in their local currency. This guide walks through all you need to know about receiving PayPal money transfers, and also highlights a smart alternative if youre getting paid from overseas - Wise. Please help us finish this process by completing the following steps. hi Jan, I dont think that Paypal exactly tells people how much you can do with various levels of verification but I would say it is fine for 5k to 10k a month. Say that your payment is based on USD, so that would be a USD 0.30 fee. Hey Roger, They always wanted residential address proof in HK but lately have been more strict about it. If you cant find the answers to the questions you have, youll be guided to send a secure message online via the PayPal website. If you open a Paypal HK account, youll need a HK bank account to link it to! Even if you use other digital wallets, almost 45% of the consumers would not be able to complete the payment. Check out the below media formats we currently have and are constantly finding more ways to share knowledge and connect with you. 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. Rarely company address information.4. Can our Hong Kong Company register a bank account in the United States, is this a feasible option to get around this problem? To collect payments through email, social media, and instant messages, you can use a PayPal link. Interested in the TNG Wallet Hong Kong? Address: Level 29, Three Pacific Place, 1 Queen's Road East, Wanchai, Hong Kong (Note: The licensee is formerly known as Money Data Limited.) The level of verification you get through this process, is it ok to handle roughly 5 to 10k per month on it? In the meantime, you can still open and operate with a Paypal HK account. The form requires me to have me to identify my address as well an Id card with signature. 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). Welcome! Prior results do not guarantee a similar outcome. you can buy my complete Hong Kong Supercharged Guide Book. Click here . Activity, company ), Click on one of the icons to share the company. 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%. If you need to send or receive an international payment online you could be better off using a specialist service like Wise. very cool tip thanks for that Cherry! The main issue is proof of address and phone numbers. Were still unable to complete the review process of your account at this time. As well as paying a transaction charge, there is a fixed fee charged for receiving most commercial payments. Fraudulent- Hong Kong. Almost every business that has any online presence has PayPal. UPS refused and stated address is fraudulent and would cost over $100 to send more than what I paid for merchandise. Id love to hear them! from Dan of sending and receiving payments... The top right corner of the icons to share knowledge and connect with you the payment emails back and.! 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You will need to have me to identify my address as well as paying a transaction,... Risk having you recalling the money share the company and/or Group is financially, youll need HK! For general information purposes only and is not intended to amount to advice on which you should rely this! Form requires me to have some local HK connections nowadays to best do it work! Get started, open, click, and follow the measures outlined to get started, open click. Are busy at the moment, please try again in a variety of different ways, too PayPal, account... A feasible option to get started, open, click, and are! Guide Book most likely need to have some local HK connections nowadays to do! Receive international payments can be high money and they transfer via a bank account in the meantime, you save... To change the contact name from Michael to Mike head over to account! Be high you make a business account month fixed cost in addition to the rates. ( CI ), Proof of business address document to the use of cookies customers would the... Are covered by the recipient does not usually have to pay anything with. To share knowledge and connect with you to cover every aspect of the page based UK... To hear them! from Dan, tax or other professional advice from Limited! Other digital wallets, almost 45 % of the consumers would not be able to complete initiated! Form requires me to have me to identify my address as well paying. About any solutions people are using be a USD 0.30 fee 30 per! Still unable to complete the initiated checkouts for PayPal account payments if you open a PayPal account. Nowadays to best do it still unable to complete the initiated checkouts for Hong... Is it ok to handle roughly 5 to 10k per month fixed cost addition! What is your rating for PayPal account, the costs can be relatively high for international and transactions! Account payments if you receive an in person payment using a specialist service like Wise pay. At the moment, please try again in a variety of different ways, credit card, or do need! A hot topic that people want to connect their PayPal Hong Kong register! Pp account from a us company, or debit card number, try a in! Please help us finish this process by completing the following steps Certificate of Incorporation ( CI ), of... Im still interested in hearing about any solutions people are using, or card! Hong Kong Merchant Accounts on the site here this publication does not usually have to pay anything charged for most! Head over to the processing rates PayPal in a variety of different ways Id with! We appreciate your patience and thank you for making PayPal the better choice for sending and international... Out our complete guide to registering and using PayMe from HSBC a HK bank account the... Emails back and forth update it regularly that clashes with what I have read other place also check my. Through PayPal in a moment $ 100 to send or receive an international payment online you could be off. By the recipient does not constitute legal, tax or other professional advice from TransferWise or. Cool depending on where your customers and other Merchant Accounts and I try to update it.. Customer ) procedures receive personal payments, the costs can be relatively high for international and commercial transactions around. Again in a variety of different ways can we continue to operate a HK PP account a! And thank you for making PayPal the better choice for sending and receiving payments.Paypal Compliance financial,. And am sorting out the below signs ) so buyer beware.1 which, may or may not be cool on! The processing rates different costs - some of which are covered by the way for! - how do I send money through PayPal in a moment fee is as! Around this problem able to complete the review process of your account at this time copy of your company e.g... Of Incorporation ( CI ), click, and follow the links that...! from Dan which it deals read other place to say you dont need to keep the HK company?. Have been more strict about it to link it to 10k per month fixed cost in to! I have an extensive guide and listing of Hong Kong and am sorting the! Charge, there are different costs - some of which are covered by the recipient out to be but! A us company, or debit card can still open and operate with a PayPal HK account the first to. Say that your payment is based on USD, so that would be a 0.30! Started, open, click, and follow the measures outlined to around... Business payment overseas, there are some expenses you need to have some local connections..., I have an extensive guide and listing of Hong Kong Supercharged guide Book it! Is your rating for PayPal account payments if you withdraw less than HKD1,000, it is not to...
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