Receive international payments

[LauChan]

South african residing in thailand. Used paypal to get funds from usa, but now having issues with paypal. How can i receive funds from usa, have a south african bank account.

[utalkin2me]

The problem is you are using banks to move your money

[gamb00ler]

Check out the Wise transfer service.  They offer a multi-currency account.  You can probably accept USA payments into that account.  You can then use the funds in that account for a transfer to Thailand.

[userabcd]

Transfer money directly from your US bank account to your bank account in Thailand.

[jimn]

The Wise App is your friend

[Liverpool Lou]

9 hours ago, LauChan said:

South african residing in thailand. Used paypal to get funds from usa, but now having issues with paypal. How can i receive funds from usa, have a south african bank account.

Open a Thai bank account and SWIFT transfer directly from the US.

[Liverpool Lou]

9 hours ago, utalkin2me said:

The problem is you are using banks to move your money

Why is the easiest way of transferring funds internationally a "problem"?

[gamb00ler]

18 hours ago, Liverpool Lou said:

Open a Thai bank account and SWIFT transfer directly from the US.

Although the OP doesn't explicitly state it, it sounds like he doesn't have a US bank account.

 

18 hours ago, Liverpool Lou said:

Why is the easiest way of transferring funds internationally a "problem"?

In terms of ease, Wise is probably his best option.  It's not easy to find a US based bank that will initiate SWIFT transfers for a non-resident unless it has already been set up while the account holder was present in US.  It's even harder to open a new US bank account while outside the US especially for someone it seems likely is not a US citizen.  A Wise multi-currency account is almost certainly the most viable solution and Wise transfers are cheaper than SWIFT up to 20K+ US$.

 

I personally don't use WISE but I'm well informed on the results one can expect when using them.  I generally make larger transfers using SWIFT or under the right circumstances use a fee free US debit card via a teller "cash advance".

Edited January 22, 2022 by gamb00ler

[Liverpool Lou]

18 minutes ago, gamb00ler said:

18 hours ago, Liverpool Lou said:

Open a Thai bank account and SWIFT transfer directly from the US.

Although the OP doesn't explicitly state it, it sounds like he doesn't have a US bank account.

He doesn't have to have a US account, the funds are coming from the US so he instructs the US account holder/remitter to SWIFT transfer to his Thai bank.

[gamb00ler]

27 minutes ago, Liverpool Lou said:

He doesn't have to have a US account, the funds are coming from the US so he instructs the US account holder/remitter to SWIFT transfer to his Thai bank.

The OP was using PayPal, which is quite expensive in terms of percentage and is mainly used for smaller transactions.  This leads me to believe that the lower fees offered by Wise for small transactions is more appropriate.  A SWIFT fee of $20-30 per small transaction would quickly add up or increase the price of OP's service or merchandise unreasonably.

Edited January 22, 2022 by gamb00ler

[Searunner]

You can't send funds from South Africa using Wise but you may be able to use Wise for an account in USA - not sure if they will accept a South African bank though. Best thing is to check with them. For a multi currency account you need an address in one of the countries they have the multi currency accounts in which includes USA but not either South Africa or Thailand because they don't have banking licenses there. They don't accept mobile phone bills as proof of address. You can use Wise without the multi currency account by registering a local address in Thailand with them which is what I did initially. You can then transfer from USA to a Thai bank account. Using this method, they will set up the transfer and give you a Wise account number in USA (assuming you use USA) to transfer the funds into. since it is a local transfer, it may not matter if your bank is South African. It's a bit more expensive doing it this way but still cheaper than a regular bank transfer. I haven't used this method for a while so my info might be a little out of date. Good luck.

[gamb00ler]

19 minutes ago, Searunner said:

You can't send funds from South Africa using Wise but you may be able to use Wise for an account in USA - not sure if they will accept a South African bank though. Best thing is to check with them. For a multi currency account you need an address in one of the countries they have the multi currency accounts in which includes USA but not either South Africa or Thailand because they don't have banking licenses there. They don't accept mobile phone bills as proof of address. You can use Wise without the multi currency account by registering a local address in Thailand with them which is what I did initially. You can then transfer from USA to a Thai bank account. Using this method, they will set up the transfer and give you a Wise account number in USA (assuming you use USA) to transfer the funds into. since it is a local transfer, it may not matter if your bank is South African. It's a bit more expensive doing it this way but still cheaper than a regular bank transfer. I haven't used this method for a while so my info might be a little out of date. Good luck.

I could not open a Wise multi-currency account based on my US address because of the state I lived in.  Wise would allow me to open an account using my CM address in Thailand.  The only bank account that is "registered" with Wise is a US bank that I use to send funds to Wise using ACH.

 

The OP will get better advice if he provides more details of the transactions he hopes to accomplish.

[LauChan]

Have a south african paypal account linked to south african bank account. Residing in thailand for the past few months. I do freelance digital artwork for clients outside of thailand ie usa, australia and was paid using paypal. Paypal restricted account as i am now residing in thailand. Looking for alternative to get paid other than paypal.

[Scott3000]

I have a US bank account & US PayPal business account linked to it.

 

Will I be affected? So far, I'm still able to use my PayPal Master Card at both the ATM & at the super market in Thailand, as of January 28.

 

Thanks!