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What is happening with PayPal Thailand?


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3 minutes ago, Pravda said:

 

I have been using PayPal and amazon payments for over 20 years. When contacting customer service they have as much credibility as clueless aseannow posters.

 

 

I'm convinced that the CEO of PayPal could tell him in person that his verified personal PayPal account will not be able to be used to receive payments or hold a balance in March of next year and he'd still refuse to believe it. But no, a PayPal chat/message operator who can barely speak English and is making $2 an hour to respond with a pre-made script is who he chooses to believe. Very humorous. 

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58 minutes ago, cmsally said:

OK, after a looooong phone conversation (half an hour) with PayPal Thailand this is what I got out of it!!

1. If you have a personal PayPal account you will not be able to use it to receive or hold money (starting next year as published).

2. If you have a business PayPal account you will need to go through a re-verification process. You will need to supply:

a. photo ID

b. proof of business address

c. official business license /registration

If the business is registered in your spouse's name and the PayPal in yours or vice versa you can apply for a "contact name" change on the account. The names must match but according to the person I spoke with PayPal will be accommodating on this and not make you register for a new account.

(This is my viewpoint - while going through the re-verification process, best not to have much money in the account because it might be tricky to get it out if you fail the re-verification. I posed that question and she couldn't answer!)

That was the gist of our conversation and pretty much all the info. she had. 

But this is totally the opposite of what Franz from PayPal messaging told @Liverpool Lou How can that be??

 

In all seriousness, thank you for taking the long half an hour to confirm it.

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1 hour ago, cmsally said:

OK, after a looooong phone conversation (half an hour) with PayPal Thailand this is what I got out of it!!

1. If you have a personal PayPal account you will not be able to use it to receive or hold money (starting next year as published).

2. If you have a business PayPal account you will need to go through a re-verification process. You will need to supply:

a. photo ID

b. proof of business address

c. official business license /registration

If the business is registered in your spouse's name and the PayPal in yours or vice versa you can apply for a "contact name" change on the account. The names must match but according to the person I spoke with PayPal will be accommodating on this and not make you register for a new account.

(This is my viewpoint - while going through the re-verification process, best not to have much money in the account because it might be tricky to get it out if you fail the re-verification. I posed that question and she couldn't answer!)

That was the gist of our conversation and pretty much all the info. she had. 

I also called PP this morning and the lady i talked with told me a different version. I told her i required information on what was going on in Thailand regarding this new system. I informed her i have a personal account and she asked some info so she could check my account. I then told her i need to know if my account will be restricted after 18th Feb, her answer was if i do not complete the two step verification before the cut off date what funds i have will be sent to my BB account and i need to start the whole process from scratch. If my verification is accepted my account will opperate same as before. Now we have two different versions by PP so i am not sure which one of us was given the wrong information

Edited by Isan Farang
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3 minutes ago, Isan Farang said:

I also called PP this morning and the lady i talked with told me a different version. I told her i required information on what was going on in Thailand regarding this new system. I informed her i have a personal account and she asked some info so she could check my account. I then told her i need to know if my account will be restricted after 18th Feb, her answer was if i do not complete the two step verification before the cut off date what funds i have will be sent to my BB account and i need to start the whole process from scratch. If my verification is accepted my account will opperate same as before. Now we have two different versions by PP so i am not sure which one of us was given the wrong information

It's possible they maybe giving the personal accounts a chance at upgrading to business accounts by doing the verification?

Did she give you the details of the verification process?

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6 minutes ago, cmsally said:

It's possible they maybe giving the personal accounts a chance at upgrading to business accounts by doing the verification?

Did she give you the details of the verification process?

I told her i do not want or need a buisness account and it was clear that we were talking about a personal account. She told me i will receive a mail and it will explain how to process the two step verification. As you will know performing any task in Thailand is never simple with different versions.

 

The verification for a business account is a lot more complex for someone going that route

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32 minutes ago, Isan Farang said:

I told her i do not want or need a buisness account and it was clear that we were talking about a personal account. She told me i will receive a mail and it will explain how to process the two step verification. As you will know performing any task in Thailand is never simple with different versions.

 

The verification for a business account is a lot more complex for someone going that route

Seems like we got different info. then !!

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On 11/7/2021 at 7:29 PM, Gottfrid said:

insane? Maybe they want people to pay income taxes.

 

How does Thailand know that money flowing into my PayPal account is always income?  The little bit of genuine income I get into my US PayPal account is already taxed in the US.  Just by moving it from there to here is counts as income again and gets taxed again?  What if I'm just getting a loan from somebody and I plan to pay it back?  Is that taxable income too?  Money flowing into a bank, be it the PayPal "bank" or an actual brick-and-mortar bank isn't always income.

And being charitable and granting the assumption that Thailand merely wants to tax all funds crossing over the border, if that's true then why are they blocking these inflows?  That's a scorched-Earth approach: since we can't tax your money, we don't want it to come into the country at all!

 

I stand by my earlier assessment: insanity.

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23 minutes ago, phaholyothin said:

 

How does Thailand know that money flowing into my PayPal account is always income?  The little bit of genuine income I get into my US PayPal account is already taxed in the US.  Just by moving it from there to here is counts as income again and gets taxed again?  What if I'm just getting a loan from somebody and I plan to pay it back?  Is that taxable income too?  Money flowing into a bank, be it the PayPal "bank" or an actual brick-and-mortar bank isn't always income.

And being charitable and granting the assumption that Thailand merely wants to tax all funds crossing over the border, if that's true then why are they blocking these inflows?  That's a scorched-Earth approach: since we can't tax your money, we don't want it to come into the country at all!

 

I stand by my earlier assessment: insanity.

IMO it is not insanity. It is simply reactive to the current disturbance of relative currency exchange values which are massively being contrived. I would predict that all and any "payment" facility that is secondary to the core "banking" system will be globally censured under dictates of control pending arbitrary outcome of an  equally arbitrary decision on ongoing monetary methodology.

Seashells, tulips, spices etc have had their day as is happening to the current preferred instituted currency of relative value that by sheer volume of printing should be toilet tissue.

The slide of and into the modern phenomenon of digital currency proffers false security in proof of the token personal acquisition that is assumed.

 

 

 

 

 

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On 11/7/2021 at 8:15 AM, Isan Farang said:

PayPal personal accounts will not be able to hold a balance or withdraw funds.

 

So, in that event, what exactly, if anything, could a Paypal personal account in Thailand be used for?

 

--Can receive funds, but can't withdraw them.

 

--can't hold a balance, so does that really mean you can't receive funds either?

 

--doesn't say you can't make a payment, but if you can't have a balance, the payment couldn't come from your balance. Perhaps the payment could still be made via Paypal TH from a linked Thai bank account?

 

 

Edited by TallGuyJohninBKK
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9 hours ago, TallGuyJohninBKK said:

 

So, in that event, what exactly, if anything, could a Paypal personal account in Thailand be used for?

 

--Can receive funds, but can't withdraw them.

 

--can't hold a balance, so does that really mean you can't receive funds either?

 

--doesn't say you can't make a payment, but if you can't have a balance, the payment couldn't come from your balance. Perhaps the payment could still be made via Paypal TH from a linked Thai bank account?

 

 

As far as I understand, it could only be used for purchases and you would have to link it to a credit card (not debit). If this is the case Thailand joins a list of "esteemed" countries such as Sudan, Zimbabwe, North Korea, Iran, Iraq, Cambodia, Laos and a few more 😁

There are mixed messages coming from PayPal so not exactly sure at the moment.

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10 hours ago, TallGuyJohninBKK said:

 

So, in that event, what exactly, if anything, could a Paypal personal account in Thailand be used for?

 

--Can receive funds, but can't withdraw them.

 

--can't hold a balance, so does that really mean you can't receive funds either?

 

--doesn't say you can't make a payment, but if you can't have a balance, the payment couldn't come from your balance. Perhaps the payment could still be made via Paypal TH from a linked Thai bank account?

 

 

You won't be able to receive funds on a personal account, verified or not. You will be able to shop with your TH credit card anywhere that accepts PayPal as a payment option. Basically useless to many of us I'm guessing.

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20 hours ago, cmsally said:

OK, after a looooong phone conversation (half an hour) with PayPal Thailand this is what I got out of it!!

1. If you have a personal PayPal account you will not be able to use it to receive or hold money (starting next year as published).

Ok, after an 11m 22s conversation with PayPal, Thailand, it has, once again, been confirmed to me, by a second PP representative (Adrian), that, as an existing personal account holder since before March '21, there will be no alterations to my personal account after February '22, as some people are falsely reporting will be a general invalidation. 

 

Bear in mind that I am posting what has been confirmed will happen to my personal account (nothing), which to use their words, is "in goodstanding", not anyone else's account but I see no reason for there to be any differential.

 

The PP rep also stated that any personal account holders whose accounts will be affected will receive notification from PayPal.  Those whose personal accounts will not be affected will not receive that notification.

 

It is time for members to refrain from posting alarming information as a general warning about all personal PayPal accounts when their generalisations are inapplicable to all PP personal accounts.  Perhaps those who are concerned should do the really easy exercise of calling PP to ask!  02 787 3409.

 

I am not commenting about business accounts which may be different but, as a personal account holder, I have no idea about, nor interest in, that area.

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8 minutes ago, Liverpool Lou said:

Ok, after an 11m 22s conversation with PayPal, Thailand, it has, once again, been confirmed to me, by a second PP representative (Adrian), that, as an existing personal account holder since before March '21, there will be no alterations to my personal account after February '22, as some people are falsely reporting will be a general invalidation. 

 

Bear in mind that I am posting what has been confirmed will happen to my personal account (nothing), which to use their words, is "in goodstanding", not anyone else's account but I see no reason for there to be any differential.

 

The PP rep also stated that any personal account holders whose accounts will be affected will receive notification from PayPal.  Those whose personal accounts will not be affected will not receive that notification.

 

It is time for members to refrain from posting alarming information as a general warning about all personal PayPal accounts when their generalisations are inapplicable to all PP personal accounts.  Perhaps those who are concerned should do the really easy exercise of calling PP to ask!  02 787 3409.

 

I am not commenting about business accounts which may be different but, as a personal account holder, I have no idea about, nor interest in, that area.

Interesting thank you for that , it seems we are all getting different information!

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On 11/7/2021 at 4:08 PM, Ohyesuare said:

Credit card only actually, no debit cards if it's a personal or non registered business account.

My PP/Thai bank link is with a debit card and it has been confirmed that my account will continue to be valid with this type of card.   Amazing what a phone call to a real person at PP can do.  Unaffected existing  personal accounts will continue to be able to be linked to debit cards.

Edited by Liverpool Lou
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On 11/7/2021 at 8:06 PM, Tropicalevo said:

I too have had a PP account for many years. It is connected to my Thai bank account.

I have received no details of any any changes to my main account.

You're safe too, no notification means no changes.

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On 11/7/2021 at 8:09 PM, jim hayes said:

 

Yes existing customers can use PayPal normally at the moment but not, it seems, after February 2022.

As a generalisation about all existing PP personal accounts that is incorrect.

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20 hours ago, Isan Farang said:

She told me i will receive a mail and it will explain how to process the two step verification.

I was told the same thing, in effect...any accounts that will be affected will receive appropriate notifications.

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16 hours ago, TallGuyJohninBKK said:
On 11/7/2021 at 8:15 AM, Isan Farang said:

PayPal personal accounts will not be able to hold a balance or withdraw funds.

 

So, in that event, what exactly, if anything, could a Paypal personal account in Thailand be used for?

Buying or selling items using PP linked to a bank account!

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1 hour ago, cmsally said:

Interesting thank you for that , it seems we are all getting different information!

Not exactly, I've had the same information three times now, from three different PP reps.

Edited by Liverpool Lou
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40 minutes ago, Liverpool Lou said:

Clearly, you haven't called the English-language option of PP Thailand, their English skills are pretty good.

You are correct, I never have but I will soon and confirm it myself. Love you Lou ❤️

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49 minutes ago, Liverpool Lou said:

I was told the same thing, in effect...any accounts that will be affected will receive appropriate notifications.

I made another call today to PP and got a different person from yesterday, the filipino guy i talked with spoke crystal clear English. I told him on the PP website it states no more personal accounts or restricted personal accounts after Feb 18 2022, he told me to wait till he checked my account. I was then informed for the second time on my personal account everthing will be the same as before after i complete the 2 step verification, i was also informed the mail will be sent out around Jan 2022 The only problem will be if i do not let them have the info by Feb 18 2022. 

 

I think they already have went through their Thai based clients and its some in and some out.

Edited by Isan Farang
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On 11/7/2021 at 7:20 PM, expat_4_life said:

My understanding is it's two-fold, AMLO regulations, and designed to bring freelancers/online retailers/etc (avoiding tax) using the platform under the taxable income umbrella.

 

This from the wife who works at one of the major local banks in the AMLO division.

Interesting what you are saying.

 

My suspicion is that it might be related to Thailand's preparation to implement the multilateral tax convention Common Reporting Standard (CRS). 

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2 hours ago, Isan Farang said:

I made another call today to PP and got a different person from yesterday, the filipino guy i talked with spoke crystal clear English. I told him on the PP website it states no more personal accounts or restricted personal accounts after Feb 18 2022, he told me to wait till he checked my account. I was then informed for the second time on my personal account everthing will be the same as before after i complete the 2 step verification, i was also informed the mail will be sent out around Jan 2022 The only problem will be if i do not let them have the info by Feb 18 2022. 

 

I think they already have went through their Thai based clients and its some in and some out.

Do you know if it's physical mail or an email they are sending out?

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