Popular Post webfact Posted November 10, 2022 Popular Post Share Posted November 10, 2022 File photo By Jonathan Fairfield Regulatory changes aimed at combating money laundering mean that the services offered by PayPal are no longer available to foreigners in Thailand and may even be out of reach for many Thais. It is almost one year to the day since PayPal first announced that it was relaunching its services in Thailand. The relaunch was necessary in order for the company to comply with new regulations in Thailand after the government overhauled regulation of the country’s fintech sector. In order to comply with the regulations, only those with a registered business account would be able to use PayPal to send and receive money and pay for goods and services online. Full story: https://www.huahintoday.com/thailand-news/paypal-no-longer-available-to-foreigners-in-thailand/ -- © Copyright Hua Hin Today 2022-11-11 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more! 1 2 Link to comment Share on other sites More sharing options...
Popular Post ukrules Posted November 10, 2022 Popular Post Share Posted November 10, 2022 I can quite literally feel the hate. Well done paypal for preventing me from having a few thousand Baht available online for easy use. I'm sure this change will do absolutely zero to 'save the world' from the usual excuses of money laundering and preventing terrorism and make many thousands of people hate the company even more than they already do. I never had this kind of problem with Bitcoin. It just works and doesn't care who you are or where you are. 27 8 2 3 Link to comment Share on other sites More sharing options...
Popular Post gp2002 Posted November 10, 2022 Popular Post Share Posted November 10, 2022 This really pisses me off. Idiots!! 16 6 1 Link to comment Share on other sites More sharing options...
Popular Post Celsius Posted November 10, 2022 Popular Post Share Posted November 10, 2022 1 hour ago, ukrules said: I can quite literally feel the hate. Well done paypal for preventing me from having a few thousand Baht available online for easy use. I'm sure this change will do absolutely zero to 'save the world' from the usual excuses of money laundering and preventing terrorism and make many thousands of people hate the company even more than they already do. I never had this kind of problem with Bitcoin. It just works and doesn't care who you are or where you are. You do realize this has absolutely nothing to do with PayPal. 26 7 7 1 Link to comment Share on other sites More sharing options...
Popular Post TooMuchTime Posted November 10, 2022 Popular Post Share Posted November 10, 2022 The less farang meddling in illegal activities the better. 1 1 13 Link to comment Share on other sites More sharing options...
Popular Post TheFishman1 Posted November 10, 2022 Popular Post Share Posted November 10, 2022 I remember when the US government provide Bangkok Bank in New York from sending me money into my account here in Thailand the never ending battle of money laundering TIT 3 1 Link to comment Share on other sites More sharing options...
Artisi Posted November 10, 2022 Share Posted November 10, 2022 1 hour ago, Celsius said: You do realize this has absolutely nothing to do with PayPal. It seems not ???? 1 1 Link to comment Share on other sites More sharing options...
Popular Post Thaijack2014 Posted November 10, 2022 Popular Post Share Posted November 10, 2022 1 hour ago, TooMuchTime said: The less farang meddling in illegal activities the better. That was sarcastic right? It is so stupid if that would be the reason. So just because a few people do something illegal, most others have to "suffer"? 2 3 Link to comment Share on other sites More sharing options...
Popular Post Thaijack2014 Posted November 10, 2022 Popular Post Share Posted November 10, 2022 It bothered me in a way, because I made good use of Paypal since it's start. But I already used it less and less over the last few years. I remember I payed my Lazada purchases with it. But living in Thailand had some changes which I miss: I used Ebay a lot and always used Paypal to buy and sell products. Paypal saved me a lot of money from crooks on Ebay and with the few too many issues I had, it always served me well. I'm not angry, I'm just sad that I can't use it anymore. Why they have to make it so difficult for normal people to use it? But because this doesn't come sudden, I already quit using it a few months ago. I tried to set it on my wife's name, but needed to get acces to her bank, which I don't have nor want to have. So no more paypal for me. Luckily there is Google Pay, there are credit and international debet cards and for easy money transfer I use Wise. I don't need Paypal... they might need us more. 8 2 3 3 1 Link to comment Share on other sites More sharing options...
JayClay Posted November 10, 2022 Share Posted November 10, 2022 3 hours ago, webfact said: In order to comply with the regulations, only those with a registered business account would be able to use PayPal to send and receive money and pay for goods and services online So which part of this excludes foreigners from being able to use the service? 1 Link to comment Share on other sites More sharing options...
OneMoreFarang Posted November 10, 2022 Share Posted November 10, 2022 I don't hate PayPal for this. I am sure they wouldn't do this change if they could keep the business like it is. They follow the law, or else. So what are the options for us? I recently logged in to my PayPal account and they tell me I have to enter my Thai ID card number. I am not Thai, so I don't have that number. Are there other options for foreigners? I.e. entering the number of a Thai driver license or something like that? How easy is it for other people, like the Thai gf, to open an account? These days I don't use PayPal much anymore, I guess I could live without it. But obviously it doesn't hurt to have an account. What do you do? Link to comment Share on other sites More sharing options...
Popular Post herfiehandbag Posted November 10, 2022 Popular Post Share Posted November 10, 2022 3 hours ago, ukrules said: I can quite literally feel the hate. Well done paypal for preventing me from having a few thousand Baht available online for easy use. I'm sure this change will do absolutely zero to 'save the world' from the usual excuses of money laundering and preventing terrorism and make many thousands of people hate the company even more than they already do. I never had this kind of problem with Bitcoin. It just works and doesn't care who you are or where you are. Money laundering? The established "conventional" banks make money from people who use them for online purchases, particularly international ones. PayPal is a competitor which threatened that income. They have influence. They have deployed it 9 2 Link to comment Share on other sites More sharing options...
Popular Post Songlaw Posted November 10, 2022 Popular Post Share Posted November 10, 2022 33 minutes ago, JayClay said: So which part of this excludes foreigners from being able to use the service? The part, where you must have firstly, a Thai ID. And secondly, a legally registered business. Unfortunate, really. So it goes. Nothing stays the same forever. Especially here. 7 1 Link to comment Share on other sites More sharing options...
Popular Post Bangkok Barry Posted November 10, 2022 Popular Post Share Posted November 10, 2022 3 hours ago, ukrules said: Well done paypal for preventing me from having a few thousand Baht available online for easy use. You are misinformed. This has nothing at all to do with PayPal. It has everything to do with new demands by the Thai government. PayPal is merely abiding by them, doing as it's told by the government. Do you really think that PayPal voluntarily wants to lose customers? 21 3 2 1 Link to comment Share on other sites More sharing options...
Popular Post Hakuna Matata Posted November 11, 2022 Popular Post Share Posted November 11, 2022 In my opinion, this is a step in the right direction. Foreigners living in Thailand can still use PayPal to send money. They will not be able to receive money. If you want to receive money, probably you are doing some business. You are supposed to pay the tax in Thailand. Register your business in Thailand, pay the tax every year. Then you can use PayPal to receive money. PayPal is using this approach in many countries, not only Thailand. 3 1 1 Link to comment Share on other sites More sharing options...
Popular Post Mickeymaus Posted November 11, 2022 Popular Post Share Posted November 11, 2022 I transferred my USD and Euro already to my Thai Baht bank account and closed PayPal. I will never forget the bad exchange rate that I got from PayPal for these transactions ????. 6 2 1 Link to comment Share on other sites More sharing options...
JayClay Posted November 11, 2022 Share Posted November 11, 2022 3 minutes ago, Songlaw said: The part, where you must have firstly, a Thai ID. And secondly, a legally registered business. Unfortunate, really. So it goes. Nothing stays the same forever. Especially here. Okay. The Thai ID wasn't mentioned in the OP. If it was simply that you need a legally registered business then it wouldn't have been specifically stopping foreigners. Link to comment Share on other sites More sharing options...
Popular Post Bangkok Barry Posted November 11, 2022 Popular Post Share Posted November 11, 2022 17 minutes ago, OneMoreFarang said: These days I don't use PayPal much anymore, I guess I could live without it. But obviously it doesn't hurt to have an account. What do you do? I've used it a few times a year to order things, such as tea from Ireland and for software bought on-line. Now I'll just use a credit or debit card. It's just another example of the hammer to crack a nut attitude we see so often in Thailand. Financially, it began with having to present a passport to buy a stored value card for the BTS. Money laundering was spouted as the reason, but I doubt very much that money launderers who deal in millions used a BTS card to move money around. 5 2 Link to comment Share on other sites More sharing options...
Popular Post klauskunkel Posted November 11, 2022 Popular Post Share Posted November 11, 2022 3 hours ago, webfact said: Regulatory changes aimed at combating money laundering mean that the services offered by PayPal are no longer available to foreigners in Thailand and may even be out of reach for many Thais. However, the age-old tradition of corruption in government is undiminished and those "regulators" can rest easy, no combat coming their way. 4 1 1 Link to comment Share on other sites More sharing options...
Popular Post Bangkok Barry Posted November 11, 2022 Popular Post Share Posted November 11, 2022 6 minutes ago, Hakuna Matata said: Foreigners living in Thailand can still use PayPal to send money. They will not be able to receive money. I doubt that. It is not what has been said in any communication I've had from PayPal, and to log into your account you now need a Thai ID card. Where did you read otherwise, please? 4 Link to comment Share on other sites More sharing options...
Popular Post MrJ2U Posted November 11, 2022 Popular Post Share Posted November 11, 2022 3 hours ago, ukrules said: I can quite literally feel the hate. Well done paypal for preventing me from having a few thousand Baht available online for easy use. I'm sure this change will do absolutely zero to 'save the world' from the usual excuses of money laundering and preventing terrorism and make many thousands of people hate the company even more than they already do. I never had this kind of problem with Bitcoin. It just works and doesn't care who you are or where you are. I believe it had more to do with draconian laws of Thailand than PayPal. I know PayPal sure streamlined large purchases for me on Alibaba. 4 Link to comment Share on other sites More sharing options...
Popular Post Ginner Posted November 11, 2022 Popular Post Share Posted November 11, 2022 2 hours ago, TheFishman1 said: I remember when the US government provide Bangkok Bank in New York from sending me money into my account here in Thailand the never ending battle of money laundering TIT I can remember the pensions department refusing to send my pension to the Thai bank of Asia as they said the money would never reach my account. They sent it to Thai Farmers, after 2 weeks i asked the bank about the money, they said Quote" It had an accident and went to the wrong account". Next day it was in my account. The account it went to was a bank employee. 1 4 Link to comment Share on other sites More sharing options...
Popular Post Na Fan Posted November 11, 2022 Popular Post Share Posted November 11, 2022 This is the exact same thing that has happened with Uber. Ban foreign companies and then create a local one to take its place and make billions. Guarantee you that that will happen. 6 1 Link to comment Share on other sites More sharing options...
Popular Post edwinchester Posted November 11, 2022 Popular Post Share Posted November 11, 2022 (edited) 1 hour ago, OneMoreFarang said: I don't hate PayPal for this. I am sure they wouldn't do this change if they could keep the business like it is. They follow the law, or else. So what are the options for us? I recently logged in to my PayPal account and they tell me I have to enter my Thai ID card number. I am not Thai, so I don't have that number. Are there other options for foreigners? I.e. entering the number of a Thai driver license or something like that? How easy is it for other people, like the Thai gf, to open an account? These days I don't use PayPal much anymore, I guess I could live without it. But obviously it doesn't hurt to have an account. What do you do? If you have a Pink Card or Yellow House Book entering your id number on that may be worth a try. Edited November 11, 2022 by edwinchester 5 Link to comment Share on other sites More sharing options...
Popular Post NorthernRyland Posted November 11, 2022 Popular Post Share Posted November 11, 2022 Does this only apply to PayPal accounts linked to Thai bank accounts? I just opened my account and I didn't see any notifications. What ever it means it's just one more reason why Thailand makes it difficult for foreigners living here and people should reconsider. Boomers now retiring en masse now should be paying attention to this in particular. 3 1 1 Link to comment Share on other sites More sharing options...
NorthernRyland Posted November 11, 2022 Share Posted November 11, 2022 31 minutes ago, Na Fan said: Ban foreign companies and then create a local one to take its place and make billions. Exactly what China is doing also. Peas in a pod. 2 Link to comment Share on other sites More sharing options...
brucegoniners Posted November 11, 2022 Share Posted November 11, 2022 What a bunch of bullsh*t. 1 Link to comment Share on other sites More sharing options...
wombat Posted November 11, 2022 Share Posted November 11, 2022 3 hours ago, Celsius said: You do realize this has absolutely nothing to do with PayPal. idtent here needs it explained coz I have no idea what you mean? 1 Link to comment Share on other sites More sharing options...
AJS1954 Posted November 11, 2022 Share Posted November 11, 2022 3 hours ago, TooMuchTime said: The less farang meddling in illegal activities the better. Do you read the news??? Check out the number of Chinese, Thai Police, Thai ex Police and Admin officials that have been involved in illegal activities lately. Racism at it's worst!!! 1 1 Link to comment Share on other sites More sharing options...
Archie Baker Posted November 11, 2022 Share Posted November 11, 2022 4 hours ago, gp2002 said: This really pisses me off. Idiots!! An idiot has a measurable amount of brains since they can still function. Arrogance beyond belief. Welcome to the 20th century Thailand. Link to comment Share on other sites More sharing options...
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