PayPal is cancelling personal accounts in Thailand from next year

[ChipButty]

Ive just asked my wife about this and she says she has not received anything about the changes to her account, and I have just looked on their web site, We have had our account for about 12 years, 

 

We will gradually open new account registrations in the coming months. As part of the launch of PayPal Thailand,

businesses registered in Thailand can now apply for a new PayPal account.

Individuals and unregistered businesses will soon be able to apply for a PayPal account. 

Existing customers in Thailand can also use PayPal to shop and pay online in millions of stores. and receive payments easily and securely

[Heng]

1 hour ago, cmsally said:

They want the company reg. docs. and especially the 13 digit "tabien panit" number

Thanks.   Didn't actually read through the article the first time.   Was curious as I haven't seen a specific notice from them coming through other than the periodic 'we're updating our TOS... feel free to read it at this link, which we know you likely won't' type emails that seem to come out a few times a year.

[darrendsd]

On 11/12/2021 at 8:48 AM, CrunchWrapSupreme said:

Hahaha. Absolutely absurd. And yet they've been screaming for the past few years about becoming "the hub" of this and that, like digital nomads, skilled expats, "Smart visas", e-commerce, yadda yadda. This just totally kills it.

But it's not the government killing it is it ????

 

If you bothered to actually read the article it's PayPal closing the accounts, not the Government

[mommysboy]

Not so funnily enough, I'm waiting on a late transfer from my PP account in to my Thai bank account.  I hope they are not going to do the dirty in Thailand!

[Ohyesuare]

4 minutes ago, mommysboy said:

Not so funnily enough, I'm waiting on a late transfer from my PP account in to my Thai bank account.  I hope they are not going to do the dirty in Thailand!

I just had one go through a couple of days ago if that matters.

[DaveSamutP]

On 11/12/2021 at 9:51 AM, Pravda said:

 

Yes, I don't know what this guy is talking about. PayPal is still the king of payment systems. It's Thailand that sucks. Thankfully I still have Canadian PayPal account.

It's sort of like how people who have no idea complain at Google for Google Translates poor performance without understanding that it is because there are virtually no Thais in roles to train the algorithms. 

 

Nothing modern or innovative works in Thailand because most simply don't care. And, establishment Thais who do care, are more than happy to continue to status quo that they control. 

[dao16]

1 hour ago, mommysboy said:

Not so funnily enough, I'm waiting on a late transfer from my PP account in to my Thai bank account.  I hope they are not going to do the dirty in Thailand!

Yeah, I had no idea about this until today. I didn't receive any emails about it (went back and checked, although I am sure I would have noticed such an email). The withdrawal I requested would normally have been here on Thursday, but now it's Saturday, and I am wondering what's going on. I mean, I can just use Wise, but I was not prepared for this, so the withdrawal is already "completed" but not appearing in the bank. Ugh.

[daveAustin]

2 hours ago, darrendsd said:

But it's not the government killing it is it ????

 

If you bothered to actually read the article it's PayPal closing the accounts, not the Government

Because of new regulations from the ‘government’. Suggest take own advice and read article. 
 

No fan of PayPal—a shady setup run by children—and haven’t used it in years, but this meddling is kind of bewildering. The amount of coin they’ll bank is minuscule in the great scheme of things. It is because they can, through jobsworths justifying their salary. Expect more of this, folks. Control, restriction and more control. Aside from Stephen, anyone still championing the army running the country???

[chang50]

32 minutes ago, dao16 said:

Yeah, I had no idea about this until today. I didn't receive any emails about it (went back and checked, although I am sure I would have noticed such an email). The withdrawal I requested would normally have been here on Thursday, but now it's Saturday, and I am wondering what's going on. I mean, I can just use Wise, but I was not prepared for this, so the withdrawal is already "completed" but not appearing in the bank. Ugh.

According to the doomsayers Wise is next.If that is true I can't see why it wouldn't be in the same boat already with lots of others if they are not in step with Thai government regs.What is more likely IMO is that they are in step and the authorities are happy with them to continue as before.We shall see.

[ChipButty]

2 hours ago, Ohyesuare said:

I just had one go through a couple of days ago if that matters.

We should have a payment today into PP usually around 5pm Thai time, from USA we have also had recently with no problems then transfer to a Thai bank 

[dao16]

4 minutes ago, ChipButty said:

We should have a payment today into PP usually around 5pm Thai time, from USA we have also had recently with no problems then transfer to a Thai bank 

But then how long to the bank? My thing is that it usually takes 3 working days, so the day I withdraw and 2 more days. Not really had any problems, but today is day 5, and there are no holidays, no hold, no "pending," nothing. Just, it's not there, so I checked the Interwebs and heard about this upcoming change. 

[Isan Farang]

10 minutes ago, ChipButty said:

We should have a payment today into PP usually around 5pm Thai time, from USA we have also had recently with no problems then transfer to a Thai bank 

Are you sending the funds in USD or Baht to your Thai PP account from the USA ?, as if sent in USD PP will convert to Baht at a very poor rate and then transfer to your Thai bank account. 

[Joules]

5 hours ago, gearbox said:

You can't work legally with a retirement extension (in theory) but in practice you can...just get paid to a bank account or Paypal account in your home country.  However in most cases that means filing a tax return and paying taxes.

I just discovered that I can no longer even sign into my US PayPal account from Thailand!  I KNOW my username and PW are correct.  Hmmmm.

[RayongBudgie]

Do you actually have to be a full on Company to meet PP requirements or will being registered as a sole trader suffice?

[gearbox]

10 minutes ago, Joules said:

I just discovered that I can no longer even sign into my US PayPal account from Thailand!  I KNOW my username and PW are correct.  Hmmmm.

I just logged in to my Australian Paypal account, no problems. Had this account since 2005.

[Fortean1]

1 hour ago, Joules said:

I just discovered that I can no longer even sign into my US PayPal account from Thailand!  I KNOW my username and PW are correct.  Hmmmm.

Yes, indeed.  I thought changing my password would work.  PP wants a telephone number to send me a code.  My Thai cell phone number is not accepted.

[BumGun]

On 11/12/2021 at 12:12 PM, Skytrain2hell said:

Goodbye PayPal. Hello Crypto.

While this is true, if they ban exchanges and there is no Baht offramp, then....

[CrunchWrapSupreme]

6 hours ago, darrendsd said:

But it's not the government killing it is it ????

 

If you bothered to actually read the article it's PayPal closing the accounts, not the Government

I did read the article. You didn't read the part of the article I actually quoted in my post. The long list of new govt requirements. That's what's making PP close the accts. Have a nice day.

[CrunchWrapSupreme]

On 11/12/2021 at 8:39 AM, SeaMike01 said:

And what makes you think that 'Wise' won't have to adhere to Thai government requirements as well?

I suspect what's making them go after PP is that it's directly related to business, payments for services. Thailand wants to regulate online business.

 

Most of what Wise does isn't business related, it's personal transfers. Most people use it to transfer their monthly pensions. They even have a menu option to select for this purpose, to give the correct code on your bank statement, to satisfy immigration for retirement visa extensions.

 

They'd better not do anything to Wise. It'd wreak total havoc.

[chang50]

1 minute ago, CrunchWrapSupreme said:

I suspect what's making them go after PP is that it's directly related to business, payments for services. Thailand wants to regulate online business.

 

Most of what Wise does isn't business related, it's personal transfers. Most people use it to transfer their monthly pensions. They even have a menu option to select for this purpose, to give the correct code on your bank statement, to satisfy immigration for retirement visa extensions.

 

They'd better not do anything to Wise. It'd wreak total havoc.

You're not kidding...just think about all those whose retirement extensions are based on 65k monthly income..not to mention those who have pensions paid into borderless accounts.Total havoc.

[GroveHillWanderer]

On 11/12/2021 at 2:08 PM, arick said:

Yes so useless 

That depends entirely on what you use Paypal for. I have never used it for anything expect paying for things online. So it will still be just as useful to me as it always was.

[Harveyboy]

On 11/12/2021 at 8:09 AM, Gandtee said:

Money laundering in Thailand? I don't believe it. Who would be so dishonest as to hide ill gotten gains? Certainly not my noodle vendor.????

a few Thai politicians come to mind ...

[darrendsd]

3 hours ago, CrunchWrapSupreme said:

I did read the article. You didn't read the part of the article I actually quoted in my post. The long list of new govt requirements. That's what's making PP close the accts. Have a nice day.

They are closing PERSONAL accounts, if you run a business from here or indeed any country you need a BUSINESS account with PayPal. Those who are a  legitimate business will have no issues in complying with the new requirements

[Pravda]

8 minutes ago, darrendsd said:

They are closing PERSONAL accounts, if you run a business from here or indeed any country you need a BUSINESS account with PayPal. Those who are a  legitimate business will have no issues in complying with the new requirements

So much fail with this post.

[mommysboy]

6 hours ago, Joules said:

I just discovered that I can no longer even sign into my US PayPal account from Thailand!  I KNOW my username and PW are correct.  Hmmmm.

It's a common problem.  You may have to contact them.  They will want to do some kind of authorization.

 

Even better if you can use a browser that already has your cookies.

[Nickelbeer]

Chase and some other banks have cancelled accounts. I tried to make a 150 dollar purchase on three different credit cards today and all were turned down without explanation. I am not behind on any payments and my payments are made on time every month. The only advice I could get was to contact my "local" bank. NONE of these banks are "local", they are credit card accounts. If I need to go to the hospital,  I am out of luck. No hospital will take me without assurance of payment. At 71 my chances for reasonable insurance are nearly impossible. I am not wealthy. I have no family to appeal to. Something is up and I don't believe that I am the only one who is going to suffer. Good luck to all. There are many who are going to need it.

Edited November 13, 2021 by Nickelbeer

[Nickelbeer]

6 hours ago, Fortean1 said:

Yes, indeed.  I thought changing my password would work.  PP wants a telephone number to send me a code.  My Thai cell phone number is not accepted.

The idea of a WORLD ECONOMY has not caught on with many companies. There is a list a mile long of banks that only accept USA Postal Codes.   Morons.

[William C F Pierce]

Do what the real money launderers do, Don't put all your eggs in one basket. Common sense says, have more than one account option.

[patman30]

On 11/12/2021 at 9:18 AM, SheungWan said:

Just confirming. Only applies to Thai PayPal accounts? Accounts registered in UK and elsewhere unaffected. Yes? Or will Ppal block the use of these if currently staying in Thailand?

problem is they dont let you add a Thai delivery address to your UK paypal account
many times i use the wifes paypal account to order goods that are to be delivered here
looks like i need to do some ordering and empty her balance
luckily i do have other options and i dont expect them to prevent you paying by CC via PP

Edited November 14, 2021 by patman30

[patman30]

On 11/12/2021 at 1:59 PM, NVass said:

I wonder what all the gaming platforms are going to do! My Kids buy Robux and Vbucks using Mums Paypal (with her permissions) as they can't use my English Paypal. It's going to cost the companies some serious revenue unless they provide another payment route.

most mobile games accept mobile topup credit, also Gpay and applepay etc.