What is happening with PayPal Thailand?

[Caldera]

I got the same email as well, an interesting last-minute twist to say the least!

[dj230]

not surprising, they're losing so much money now they have to do whatever they can to gain back revenue, their stock price plummeted over 60% in a few months 

[KhaoNiaw]

How bizarre. I doubt 'we' won. It's nice that they make it sound like they've listened and it was all down to them. But it wouldn't have happened if they weren't being leaned on. So there must have been some certain annoyed people somewhere who made a difference. After changing subscriptions and messing around with other systems to receive payments, I'm not sure I want to resume normal services. ????

Edited March 4, 2022 by KhaoNiaw

[CharlieH]

10 minutes ago, KhaoNiaw said:

How bizarre. I doubt 'we' won. It's nice that they make it sound like they've listened and it was all down to them. But it wouldn't have happened if they weren't being leaned on. So there must have been some certain annoyed people somewhere who made a difference. After changing subscriptions and messing around with other systems to receive payments, I'm not sure I want to resume normal services. ????

Agreed, I made alternate arrangements and I am not rushing back that's for sure.I may make it "available on request" for the time being.

[Whale]

The way I read it is the Bank of Thailand has not changed any of its regulations, Paypal have just been given more time to become compliant. So the problem has not gone away only been kicked down the road a little. KYC.

[rabas]

54 minutes ago, Whale said:

The way I read it is the Bank of Thailand has not changed any of its regulations, Paypal have just been given more time to become compliant. So the problem has not gone away only been kicked down the road a little. KYC.

Correct, but it's the second kick down the road and this time there is no set date. I sense things are getting worse not better. They will eventually switch to PayPal Thailand but the rules may be different again. Who knows, maybe you'll need to log in every 90 days.

 

Here is the full explanation  PayPal Thai FAQs

 

Just in from the nation:

 Thai customers can use PayPal until end of year (2022) BOT extends transfer deadline

[aqua4]

 

It does not work. Tried to use it to pay for a domain name. If the government is going to fix this the way they did the online 90 day reporting then good luck with that. It took them more than 2 years to fix that simple problem. I think this is the end of PayPal. 

 

BTW just to add - how exactly is this going to attract the "digital nomads" they wanted? 

Edited March 8, 2022 by aqua4
added

[fdsa]

I've just logged in to my Paypal account for the first time since the "deadline", and that's what I've discovered so far:

- my "Nationality" is hard set to "Thailand" (I could not edit that field). I can't remember for sure but I think I've never set it myself, and I'm not a Thai national.

- all my saved addresses disappeared, except the one which was randomly chosen. That is not an address I've registered an account with, and not the default billing address, and not even the last delivery address. No idea why Paypal chose that particular one.

- I can't remember for sure but I think I had some coins on the balance, but now it shows THB 0.00

 

 

check your stuff here: https://www.paypal.com/myaccount/settings

 

[rabas]

37 minutes ago, fdsa said:

I've just logged in to my Paypal account for the first time since the "deadline", and that's what I've discovered so far:

- my "Nationality" is hard set to "Thailand" (I could not edit that field). I can't remember for sure but I think I've never set it myself, and I'm not a Thai national.

- all my saved addresses disappeared, except the one which was randomly chosen. That is not an address I've registered an account with, and not the default billing address, and not even the last delivery address. No idea why Paypal chose that particular one.

- I can't remember for sure but I think I had some coins on the balance, but now it shows THB 0.00

 

 

check your stuff here: https://www.paypal.com/myaccount/settings

 

FYI, I don't see any changes.  I just logged into my personal paypal account and see all my info, three Thai addresses, US+Thai banks, phone no., etc.

 

My nationality is set to American, which I set a few years ago. My account is default US$, which I set in 2010 when I opened the acct.

 

Q. Did you accept the new Thailand Paypal account rules when they requested? I did not.

 

Edited March 10, 2022 by rabas

[fdsa]

4 hours ago, rabas said:

Q. Did you accept the new Thailand Paypal account rules when they requested? I did not.

well, I did

[Regyai]

TBH the rugs being pulled out from under PayPal more than it seems

 

I may be late to the party but I've just now experienced my first eBay purchase where PayPal was specifically excluded from the options at checkout.