haveaniceday Posted February 21, 2012 Share Posted February 21, 2012 I never do anything through my palpal account in baht, mostly USD. It is becoming a real pain in the butt, to deposit funds int he current account abroad, and some times I like to pull out some royalties that get paid into it from many moons ago that till keep coming. It would be much easier to change it to a Thai account, but I don't want to get shafted by brutal exchange rates and PP 2.5% fees when exchanging to baht and from baht. So I emailed the Thai contact, in English and got a reply in Thai, which translate: "In terms of using bank accounts in PayPal without a PayPal account is opened in Thailand. Customers who open a bank in the United States, I really. This means that a bank is a bank in the United States, I was. If a bank. It is the account that is opened from the U.S.. It can be used to withdraw U.S. dollar as well." I as VERY clear regarding a USD account in Thailand. I am worried that they will convert it to from USD to baht and back to USD and I will loose about 15% on a round trip. Does any have a PP account with a USD account with a Thai bank? I had a laugh when I rang them, but I got nowhere, the Thai support is a Singapore number, that is OK, but the message option are in Thai lingo, including, For English press 2. So you want English, but you have to understand Thai in order to select a English operator, and you have to ring Singapore from Bangkok to get this !!!!! Link to comment Share on other sites More sharing options...
falang07 Posted February 22, 2012 Share Posted February 22, 2012 USD account in Thailand will not help you since Paypal does not allow withdrawing in USD, only in Thai Baht, obviously they make much money with their terrible exchange rates so the only option is to make an USD account in USA. Paypal simply sucks and many people loose much money due to their bad exchange rates! Link to comment Share on other sites More sharing options...
falang07 Posted February 22, 2012 Share Posted February 22, 2012 Exactly as you say, sending to an USD account in Thailand will have the result ob it being converted from USD to baht and back to USD and you will loose about 15% on a round trip. Link to comment Share on other sites More sharing options...
haveaniceday Posted February 22, 2012 Author Share Posted February 22, 2012 (edited) There exchange rates are a nightmare, when looking at a inlaws, it's about 9.5% worse than Bangkok Bank, then the 2.5% fee to use this nasty exchange rate. But they don't even publish them, you have to be at the end of buying something or after the transaction to see it. Edited February 22, 2012 by haveaniceday Link to comment Share on other sites More sharing options...
SoloFlyer Posted February 22, 2012 Share Posted February 22, 2012 So is it possible to set up a non-Thai account from Thailand? And then whats the best way to get to those funds? Link to comment Share on other sites More sharing options...
4evermaat Posted February 22, 2012 Share Posted February 22, 2012 USD account in Thailand will not help you since Paypal does not allow withdrawing in USD, only in Thai Baht, obviously they make much money with their terrible exchange rates so the only option is to make an USD account in USA. Paypal simply sucks and many people loose much money due to their bad exchange rates! You can link a non-thai bank account to your thai paypal account. I think first you must use thai bank account to open paypal/verify. But afterwards, you may select how many currencies you want to hold, which one is the primary currency, and add bank accounts. The account cannot be used in other paypal accounts if you've ever had them. Once you assign a bank account to one paypal account, you must use a different bank account for a different or same paypal account when adding/linking a new bank account. If you want to link a USA bank account, you must first choose USD as one of your holding currencies. I could only imagine something similar for GBP/JPY/etc. And the transfer would only be 2-3 days vs 5-7 days. Link to comment Share on other sites More sharing options...
haveaniceday Posted February 24, 2012 Author Share Posted February 24, 2012 So you can have several bank accounts in different countries off one PayPal account correct? Link to comment Share on other sites More sharing options...
falang07 Posted February 29, 2012 Share Posted February 29, 2012 So you can have several bank accounts in different countries off one PayPal account correct? Not sure about this but you definitely can not withdraw USD to Thai bank account. USD is possible to withdraw only to a bank account in USA. As regards the terrible exchange rates that Paypal offers, they have a reason for not showing them publicly as anyone could see the rip-off directly. Link to comment Share on other sites More sharing options...
GAS Posted February 29, 2012 Share Posted February 29, 2012 Is it possible to have a PP account in Cambodia that withdraws to a bank there in USD? Do not most banks in Cambodia use the $? Link to comment Share on other sites More sharing options...
falang07 Posted March 2, 2012 Share Posted March 2, 2012 Is it possible to have a PP account in Cambodia that withdraws to a bank there in USD? Do not most banks in Cambodia use the $? not possible, more info in here: http://www.khmer440.com/chat_forum/viewtopic.php?f=8&t=12564 Link to comment Share on other sites More sharing options...
falang07 Posted March 2, 2012 Share Posted March 2, 2012 Paypal sucks big time because it forces you to use their terrible exchange rates. Spread the word and we might see some change, hopefully in a few years, if ever. Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now