Thai Back Account Link To Paypal?

[miksguevara]

is it possible to link my thai bank account card (TMb) to paypal? Im thinking of importing certain goods to the UK and setting up a paypal link would be more convenient than a UK based account..Id be interested on any opinions if this isnt a good idea....

Edited April 3, 2008 by miksguevara

[Seizhin]

If I recall correctly, yes.

I remember that you can transfer money from paypal to Thai Banks, but I'm not sure of further details.

[miksguevara]

If I recall correctly, yes.

I remember that you can transfer money from paypal to Thai Banks, but I'm not sure of further details.

OK thanks for your reply

[Bisto]

http://www.thaivisa.com/forum/index.php?sh...=177299&hl=

From jelluk

worked for me he is how to do it

I wanted to get a Thai bank account as I plan on retiring here in 2 years and wanted a way to transfer funds from America to Thailand as prices are a lot less than Western Union. I figured PayPal (paypal.com) would be the transfer vehicle and thought I would be able to use my US PayPal account. I was partially correct. Here is what I did.

Step 1: Open Thai bank account. I chose Kasikorn bank after reading many favorable reviews online. Went with my teerak to the bank, took a number, and was seen in minutes. Explained, through teerak, that I wanted to open an account. The bank clerk asked if I lived or worked in Thailand, and my teerak explained that I did not, but visited 3 or 4 times per year. The clerk then asked if I had a Thai address, and teerak said I could use her mom's address.

Signed a couple of forms (all in Thai) and deposited 500 Baht. I also had to pay 300 baht for the ATM card. There were actually 2 fees, one for 100 Baht and the other for 200 Baht. My guess is one to create the card and one for the annual fee. I got the card on the spot along with a sealed document that included my PIN number. I can keep this number or change it at any ATM.

Passport was required (and copied) to verify who I was. So it boils down to an in-country address and a passport, along with a few baht to open an account.

Step 2: Try to add the Thai bank to my US PayPal account. No joy. I can only add US banks to my US PayPal account. I email PayPal and ask them what to do. In less than 24 hours, they say that I can open a 2nd PayPal account and designate Thailand as the country. I do this with no problem.

I then try to add my Kasikorn bank account to my Thai PayPal account. Still no joy. I try different variations – with the dashes, without the dashes– all to no avail.

I then call the Kasikorn Bangkok help desk, on a Saturday, and confirm what I read on the Kasikorn web site. I need to have online access (K-cyber account) and then I will be able to add the account (almost).

Step 3: Back to Kasikorn bank. I get the same clerk and explain that I want to get the K-cyber access. I sign another form in Thai that lists my name, account number, and my email address. I am told that I will get the log in info via email.

Step 4: Receive email within 24 hours for Kasikorn telling me that my K-cyber account is set up and they provide log in and password. On initial log in, both password and user name have to be changed. They also require a 2nd password for any transactions. This can either be done via SMS or I can create a second password. I choose a second password in case I am not in-country when I want to make a transaction.

Kasikorn web site - http://www.kasikornbank.com/portal/site/KBank/ - from the drop down select "K-Cyber Banking. A new window will open. Choose ENG for your language.

Step 5: In order to make online purchases or transactions there is another step. I have to create a K-web shopping virtual credit card. It is a simple application, requiring the 2nd password, and within 24 hours I have a virtual credit card. What this means is, I was emailed a 16-digit number (same as a Visa card), expiration date, and a CCV (the 3 digits on the back of the card). All of this is virtual. This is an additional security step that the bank uses.

Step 6: Back to the Thai PayPal account. I log in to my Thai account, add the virtual account info (which is linked to my Kasikorn account), and the card is accepted. WOO HOO! PayPal requires verification. They will deduct $1.95 from the account and the transaction will be listed as PAYPAL1234 or 1234PAPAL. The four digits will then have to be posted at the PayPal account to verify. In the US, they deposited a few cents and then you had to enter that info in your account to verify. Once verified, PayPal will reimburse the $1.95.

Step 7: Receive email confirmation that PayPal has deducted money from my account and the email has the 4 digits I need to confirm my account. Back to Thai PayPal and enter the 4 digits and all is good. Now I have an online account and can go shopping online, transfer money, etc.

Step 8: Time to test the transferring of funds from US PayPal to Thai PayPal. I send $100 (send money email to email) and receive immediate confirmation via email that the transaction has completed. I log in to my Thai PayPal online account and can see that the funds are available and I now have to accept or deny. I accept.

Step 9: I now want to transfer the $100 from PayPal to my Kasikorn bank. Problem. I don't have a bank account associated with the Thai PayPal account. The virtual info is already there, but not a real bank account. So, I click on "add a bank account". All is well until I select the drop down that lists all of the banks, and everything is in the Thai language.

I open a second window and go to the Kasikorn web site and compare the Thai script and find my bank in the drop down window (2nd bank listed). I select it and next is a confirmation page and Kasikorn Bank is now in English so I feel a little better that I have chosen the correct bank. I confirm the transfer and next window informs me that it will take 5-7 days for the transfer (a little longer than US PayPal which is 3 to 4 days).

Bank account must be entered without the dashes.

Not sure if the same has to be done at other Thai banks - but this is what it took at Kasikorn

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+

[stevemiddie]

http://www.thaivisa.com/forum/index.php?sh...=177299&hl=

From jelluk

worked for me he is how to do it

I wanted to get a Thai bank account as I plan on retiring here in 2 years and wanted a way to transfer funds from America to Thailand as prices are a lot less than Western Union. I figured PayPal (paypal.com) would be the transfer vehicle and thought I would be able to use my US PayPal account. I was partially correct. Here is what I did.

Step 1: Open Thai bank account. I chose Kasikorn bank after reading many favorable reviews online. Went with my teerak to the bank, took a number, and was seen in minutes. Explained, through teerak, that I wanted to open an account. The bank clerk asked if I lived or worked in Thailand, and my teerak explained that I did not, but visited 3 or 4 times per year. The clerk then asked if I had a Thai address, and teerak said I could use her mom's address.

Signed a couple of forms (all in Thai) and deposited 500 Baht. I also had to pay 300 baht for the ATM card. There were actually 2 fees, one for 100 Baht and the other for 200 Baht. My guess is one to create the card and one for the annual fee. I got the card on the spot along with a sealed document that included my PIN number. I can keep this number or change it at any ATM.

Passport was required (and copied) to verify who I was. So it boils down to an in-country address and a passport, along with a few baht to open an account.

Step 2: Try to add the Thai bank to my US PayPal account. No joy. I can only add US banks to my US PayPal account. I email PayPal and ask them what to do. In less than 24 hours, they say that I can open a 2nd PayPal account and designate Thailand as the country. I do this with no problem.

I then try to add my Kasikorn bank account to my Thai PayPal account. Still no joy. I try different variations – with the dashes, without the dashes– all to no avail.

I then call the Kasikorn Bangkok help desk, on a Saturday, and confirm what I read on the Kasikorn web site. I need to have online access (K-cyber account) and then I will be able to add the account (almost).

Step 3: Back to Kasikorn bank. I get the same clerk and explain that I want to get the K-cyber access. I sign another form in Thai that lists my name, account number, and my email address. I am told that I will get the log in info via email.

Step 4: Receive email within 24 hours for Kasikorn telling me that my K-cyber account is set up and they provide log in and password. On initial log in, both password and user name have to be changed. They also require a 2nd password for any transactions. This can either be done via SMS or I can create a second password. I choose a second password in case I am not in-country when I want to make a transaction.

Kasikorn web site - http://www.kasikornbank.com/portal/site/KBank/ - from the drop down select "K-Cyber Banking. A new window will open. Choose ENG for your language.

Step 5: In order to make online purchases or transactions there is another step. I have to create a K-web shopping virtual credit card. It is a simple application, requiring the 2nd password, and within 24 hours I have a virtual credit card. What this means is, I was emailed a 16-digit number (same as a Visa card), expiration date, and a CCV (the 3 digits on the back of the card). All of this is virtual. This is an additional security step that the bank uses.

Step 6: Back to the Thai PayPal account. I log in to my Thai account, add the virtual account info (which is linked to my Kasikorn account), and the card is accepted. WOO HOO! PayPal requires verification. They will deduct $1.95 from the account and the transaction will be listed as PAYPAL1234 or 1234PAPAL. The four digits will then have to be posted at the PayPal account to verify. In the US, they deposited a few cents and then you had to enter that info in your account to verify. Once verified, PayPal will reimburse the $1.95.

Step 7: Receive email confirmation that PayPal has deducted money from my account and the email has the 4 digits I need to confirm my account. Back to Thai PayPal and enter the 4 digits and all is good. Now I have an online account and can go shopping online, transfer money, etc.

Step 8: Time to test the transferring of funds from US PayPal to Thai PayPal. I send $100 (send money email to email) and receive immediate confirmation via email that the transaction has completed. I log in to my Thai PayPal online account and can see that the funds are available and I now have to accept or deny. I accept.

Step 9: I now want to transfer the $100 from PayPal to my Kasikorn bank. Problem. I don't have a bank account associated with the Thai PayPal account. The virtual info is already there, but not a real bank account. So, I click on "add a bank account". All is well until I select the drop down that lists all of the banks, and everything is in the Thai language.

I open a second window and go to the Kasikorn web site and compare the Thai script and find my bank in the drop down window (2nd bank listed). I select it and next is a confirmation page and Kasikorn Bank is now in English so I feel a little better that I have chosen the correct bank. I confirm the transfer and next window informs me that it will take 5-7 days for the transfer (a little longer than US PayPal which is 3 to 4 days).

Bank account must be entered without the dashes.

Not sure if the same has to be done at other Thai banks - but this is what it took at Kasikorn

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+

I assume you know that Paypal has an almost 10% charge on currency conversions? Thats on top of the normal charges. Its hardly an appropiate vehicle for money transfers.

[taxin]

Its not too bad at the moment Steve. It seems that Paypal have stepped down from the onshore/offshore bandwagon, and not robbing you as much for USD conversions.

My last USD conversion into THB only lost me about 4%. But still, its a heavy price to Pay if you are only using them to transfer money.

It amazes me when I see all these people go though so much hassle to get a Paypal account just to send themselves money. Particularly when it can be done without the hassle (and cost) by simply doing an international bank transfer with your bank.