PayPal is cancelling personal accounts in Thailand from next year

[Tofer]

4 hours ago, Galong said:

Yes, when we set up our business account they wanted all sort of things that I considered none of their business, such as income amounts.

Why is it none of their business? Or do you have no intention of paying income tax in Thailand.

[kingstonkid]

Just now, david555 said:

What will businesses use in Thailand to collect payment from Thais

 

You know ....Thai banks still exist ?...and very easy for Thais to have one or more  ...????  ????

Yeah but setting up the system to accept payment is a b!tch.  I am talking about online payments when selling something

[Ebumbu]

Does this mean Dee Money is now the only way to get money FROM a Thai bank to a US bank? I don't like that. I've used Thai Paypal at times to get money to the US quickly, when needed. Wise will not transfer money out of Thailand. What other online options do I have for outbound transfers from Thailand? Wire transfers are not available to me. 

 

Thai banks are like Hotel California. 

[arick]

Your a little late I posted this already 3 days ago. Just ago Thailand and open PayPal in a country with a phone number 

[MeHere]

4 hours ago, Snow Leopard said:

I also use XE Currency to transfer money from the UK to my Thai account. I have used it about 20 times now. 2 GBP fee. Faultless and within 24 hours so far. WISE is rubbish. Okay if you are from the US i suppose. 

I use both Transferwise (now called Wise) and XE... Wise is much quicker (sometimes under 5 minutes), especially on weekends, and the credit card is a bonus. XE is good too, if you're not in a hurry.

[arick]

3 minutes ago, Ebumbu said:

Does this mean Dee Money is now the only way to get money FROM a Thai bank to a US bank? I don't like that. I've used Thai Paypal at times to get money to the US quickly, when needed. Wise will not transfer money out of Thailand. What other online options do I have for outbound transfers from Thailand? Wire transfers are not available to me. 

 

Thai banks are like Hotel California. 

You can pay out but not recieve money  or hold a balance. So basucly only pay for goods via PayPal using a card 

 

[david555]

1 minute ago, kingstonkid said:

Yeah but setting up the system to accept payment is a b!tch.  I am talking about online payments when selling something

Kasikorn has Kweb cards , can be used to pay internet orders . Can be renewed on instant , is like a virtual card , i used it when ordering on AliExpress , no need to give credit card number out , and money becomes deducted from your original Kasikorn account 

[hellohello123]

5 hours ago, mikebell said:

I get three requests a week from Paypal to update my personal details.  Is this the same spoof thing?  How can I close my account?  Will the real Paypal please stand up.

I get 3 emails a week telling me I'm related to a Nigerian prince, and I'm stinking rich

[arick]

11 minutes ago, kingstonkid said:

I find paypal good when I am buying something and do not want to use my credit card directly.  

 

Question though.  Can gf register a personal business (Amazon or such) and get a business number therefore make paypal a useful way of collecting funds.

 

What will businesses use in Thailand to collect payment from Thais

Yes easy get her to open a business for 150 and her ID 

If you check my original post it's not so much Thai it is PayPal that seems <deleted> off 

[david555]

1 minute ago, david555 said:

Kasikorn has Kweb cards , can be used to pay internet orders . Can be renewed on instant , is like a virtual card , i used it when ordering on AliExpress , no need to give credit card number out , and money becomes deducted from your original Kasikorn account 

This for paying , might not be what you need for receiving money 

 

[arick]

2 minutes ago, arick said:

You can pay out but not recieve money  or hold a balance. So basucly only pay for goods via PayPal using a card 

 

Yes so useless 

[wombat]

thats the end of the cam girls.

[david555]

4 minutes ago, arick said:

Yes so useless 

Was this not their original way of existence ?Just paying not using ccard direct 

[arick]

2 minutes ago, david555 said:

Was this not their original way of existence ?yes 

Yes useless just like another America payoneer 

[MyFriend You]

6 hours ago, Karma80 said:

Consider it a public service. It's the Nokia of payment platforms and should be a footnote in history.

Yes, the "Wang of the Information Technology World".............dropped them couple years ago - took me almost a year to get my money out of them.

[peetje]

5 hours ago, edwardFuture said:

This is to discourage people working illegally here. I hope Wise follows too. For instance by allowing transfers from and to bank accounts under the same name only and with work permit.

Lots of people send their pensions via WISE. Why should you need a work permit?

[david555]

My PayPal works still same way as from beginning , even i do not live my home country no more since 2013   my account is still alive on that address  as i kept my E.U. tel. number alive ...

So not an Thai PayPal account but a E.U. one 

[rickthompson]

5 hours ago, jerrymahoney said:

I have never seen a checkout option with WISE listed

 

And you likely won't. It's not Wise's business model, at least currently.

[Galong]

26 minutes ago, Tofer said:

Why is it none of their business? Or do you have no intention of paying income tax in Thailand.

I pay plenty of taxes in Thailand.  It's the Thai government's business, not PayPal's business. PayPal is a private business.  I don't have any problem with the Thai government asking for details.

[SymS]

I wonder if this applies to new accounts to. My girlfriend setup an account last month, but at no point the "Know Your Business (KYB) scheme.".
The 7% VAT is interesting too, as I thought businesses making less than 1.8 million Baht did not have to pay. Will this change too, or is it only for online transactions?

[SymS]

Actually, I have a Thai supplier who asked me not to pay him in Thailand anymore, because the government was now taking 7% VAT on all transactions, so I'm now sending the money to a subsidiary in another country.

[Siamjim]

i only receive funds from my family to help me through Paypal, this will be death. what other platform can i use for a simple personal user account? direct banking money transfer still good from farang land to thai banks? 

[Keesters]

4 hours ago, Galong said:

They are expensive to use. Thailand isn't putting them out of business... just guiding them towards the door. They can turn if they want.  They have competition that is better.  They could evolve with the times, but if they don't, so be it.  ????

Give me an alternative that has payment options on thousands of eCommerce websites. Basically it's PayPal or credit card. I prefer to limit the number of places and times my credit card is used on the internet to ONE. 

[Keesters]

5 hours ago, edwardFuture said:

This is to discourage people working illegally here. I hope Wise follows too. For instance by allowing transfers from and to bank accounts under the same name only and with work permit.

PayPal is extremly useful in paying for items ordered overseas. Using PayPal restricts the number of places that you've used your credit card to ONE, PayPal. It also has great consumer protection. They've always credited me when I've notified that ordered goods never arrived. Great service until now with no known equal. Time you thought out of the box and not just your own little life. 

[ThailandGuy]

Bizar.....  The thai tax department can get any information from paypal about the transactions if they want. Just like a normal back account. They will have to use a VPN to work around the block.

[ed strong]

7 hours ago, NanaSomchai said:

Precisely. Technology evolves constantly. PayPal has ran it's course, it belongs to the past. Let it rot.

 

This isnt about paypal, its the Thai government's control over its citizens payments.

[PEE TEE]

6 hours ago, SeaMike01 said:

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

I think if that were the case Thailand would not any moneys into their banks 

[sandyf]

6 hours ago, jerrymahoney said:

I have never seen a checkout option with WISE listed

 

Wise is VISA.

[Gold Star]

I'm not going to miss my Thai Paypal account. Its shortcomings made it almost useless for me. I still use my Canadian Paypal though.

 

Although WISE from Canada is the least expensive option I have found overall, it has it's limitations. I'm forced to use the higher 'direct debit' transfer fee option as the cheaper 'bill payment' option is not recognized by Canadian banks. It has an average 2 day duration for transfers, and is hindered by a maximum CDN$9500 transfer limit. Since it uses partner banks, it always arrives for me as a local bank transfer no matter how you tag it, not as an international transfer for those requiring to prove source of funds.

 

However I am not pleased by the government's meddling, as anytime our options are restricted it makes it tougher living here, as I am feeling the noose keep tightening around the neck of us expats. The same BS happened as they meddled with Lazada payments, and put restrictions on use of the Lazada wallet in your account.

 

I want to move a lot more money over here, and buy some nice property, but I am not liking the direction the idiots in government are taking this country, along with inane reporting requirements for banking and fund sources for immigration pension, and property. It is causing me take a step back and pause to see what happens next, and try to figure out which is the next shoe to drop.

 

[hotchilli]

7 hours ago, webfact said:

In order to get a registered business account, people will need to be registered via the Thai government’s Know Your Business (KYB) scheme. 

That's kinda worrying.