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Time To Open A Thai Paypal Account


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Paypal has just posted that they are going to start automatically sending all the merchant transaction data to the IRS for any merchants who sell over $20,000 or 200 transactions per year!

So you automatically get a 1099 saying "You have made $XXXXX" from Paypal this year, and if you don't enter this into your tax return...you are automatically screwed.

Needless to say i have opened us a new Thai paypal account immediately. Fees are a little higher but...that's life.

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Do not be shocked to get another email now from Paypal Thailand, which is to address money anti-laundering laws.

They will ask for local ID and local bills with your name and address

But seeing as i live in Thailand i do have local bills with my name on them? I don't see your point?

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Do not be shocked to get another email now from Paypal Thailand, which is to address money anti-laundering laws.

They will ask for local ID and local bills with your name and address

But seeing as i live in Thailand i do have local bills with my name on them? I don't see your point?

You wil see the point once you get that email and they holding on to your money

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You wil see the point once you get that email and they holding on to your money

And what rules/information is this based upon (source please)?

Source for IRS rule changes in my OP: https://cms.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&content_ID=marketing_us/IRS6050W

Edited by dave111223
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You wil see the point once you get that email and they holding on to your money

And what rules/information is this based upon (source please)?

Source for IRS rule changes in my OP: https://cms.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&content_ID=marketing_us/IRS6050W

That would be based opon my 10 years experience with Paypal and all the reviews and stories across the web.

No need to worry, will look forward to your next thread when the time comes with the headline "how do i get the money out or problem with Paypal, please help me"

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That would be based opon my 10 years experience with Paypal and all the reviews and stories across the web.

No need to worry, will look forward to your next thread when the time comes with the headline "how do i get the money out or problem with Paypal, please help me"

So you have used Paypal for 10 years despite receiving emails "addressing money anti-laundering laws" and freezing your account?

Or if this is not your personal experience please provide a specific source of the story regarding "money anti-laundering laws" that Paypal enforces?

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Here is a perfect evidence for you of what to expect should you be one of the few unlucky ones

http://paypalsucks.com/PayPalFormerEmployee1.shtml

This seems to address general grievances against Paypal and does not address the specific topic of opening an International account to avoid regulations of a domestic account? And also does not seem to address the money laundering laws that you initially mentioned?

Please explain further how this article relates to the above topics of discussion?

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That would be based opon my 10 years experience with Paypal and all the reviews and stories across the web.

No need to worry, will look forward to your next thread when the time comes with the headline "how do i get the money out or problem with Paypal, please help me"

So you have used Paypal for 10 years despite receiving emails "addressing money anti-laundering laws" and freezing your account?

Or if this is not your personal experience please provide a specific source of the story regarding "money anti-laundering laws" that Paypal enforces?

Yes i have a total of 10 years experience dealing with Paypal. I have lost money, i have had money frozen, i have had accounts limited and closed for no reason at all.

The money anti laundering laws is their new way to keep your money. I had received 1 on my Australian account, which after verification they refused to unfreeze. However in Oz, there is a government body called Financial Services Ombudsman and lucky Paypal is a member,With their help i managed to open that account.

For my Thai account, last one was frozen and since there is no "law" in Thailand they kept the money.(same anti money laundering crap)

A close mate of mine, got the exact same email, and same thing happened to him, only the excuse was that it was security risk because he was American but account in Asia.

See the link i gave before, and here it is again which talks about accounts in Asia http://paypalsucks.com/PayPalFormerEmployee1.shtml

Another close friend, had 2 accounts 1 in USA and 1 in Thailand, he transferred money from USA account to Thailand $5000.

Money never arrived in Thai account, after contacting them, he got the money laundering email, and after few more calls account was frozen and money seized.

If you need more links and more evidence, just do the search on the net, or wait for the lovely email and consequences with it

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Here is a perfect evidence for you of what to expect should you be one of the few unlucky ones

http://paypalsucks.c...Employee1.shtml

This seems to address general grievances against Paypal and does not address the specific topic of opening an International account to avoid regulations of a domestic account? And also does not seem to address the money laundering laws that you initially mentioned?

Please explain further how this article relates to the above topics of discussion?

you do not have an international account, you have Paypal account linked to Thai bank account, making you the "asian" account which is always flagged as a high risk/scam

Read the entire site where you will find 1000 of stories that address your questions, you can also find more sites again with people talking about the same issues and problems.

If all that bad reviews are not good enogh evidence for you, then simply ignore my post and me and carry on.

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I use paypal for my website but I only deal with customers in thailand and I have a thailand paypal business account. Never any problem, but I do take the money out as soon as my obligations to the buyer are met. I would never use paypal like a bank account.

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I use paypal for my website but I only deal with customers in thailand and I have a thailand paypal business account. Never any problem, but I do take the money out as soon as my obligations to the buyer are met. I would never use paypal like a bank account.

Very smart to take out the money immediately as also suggested by the ex-employees of Paypal.

But just be aware that Paypal can reverse the withdrawal and still limit the account, though having business account is much safer and dealing only with local buyers is also a plus(minimizes the risk of fraud in Paypal's mind)

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Hi Folks

very interesting Theme, as my Thai GF just opened a Paypal Account to sell her homemade Products on Ebay internationally

Is there any limited Amount, where Paypal would interfere or not?

I just wonder, that so many People in Asia are using Paypal for safe Payments - what could be a solid Reason for "freezing" any Trransaction?

There must be Rules to be followed - and this Rules should be able to be found on Paypal Homepage, which I do not find

Any Link to this Rules available online?

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you should not have any problem so long as what your gf is selling is as described and she ships using a shipping method that provides proof of delivery and she only ship to a paypal verified address. That being said, and as kuffki pointed out, paypal has been known to freeze accounts for little no reason and their customer service is terrible. So once your obligation is met to the buyer, withdrawl the funds. There is no charge for withdrawls in thailand over 5000B and only 50 baht under. It takes 5-7 days to withdrawl funds, so make sue your gf has a float to cover shipping costs.

I think the main reason paypal is not very common in Thailand is you need a credit card to load funds (or someone send you a paypal) and the ease of which you can transfer funds via ATM or online to accounts in Thailand. Plus, thais would never accept the fees, same as they do even at big merchants with credit cards, charge you the interest, which I think is against paypals policies and visa MC INTL but they get away with it.

There is a sellers guide within paypal in regards to disputes https://cms.paypal.c...blem_resolution

Edited by BillR
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Paypal account for 8 years - no problems.

Thai Paypal 3 years - no problems.

Used customer phone support last week for the first time and it was excellent.I even had an email a few days later from Paypal asking if things had been dealt with to my satisfaction and a questionnaire to rate their support employee in assisting me.

I remember reading that "Post by former Paypal employee" about 5 years ago and it was probably old then - Is the source verified?

I also leave money in my Paypal accounts,so I seem to be doing things wrong.

Must've just been lucky.

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