Withdrawing Money From Paypal To Thai Bank - Payoneer

[stevehaigh]

i need to get some money from my paypal account. what is the best way these days?

has anyone tried http://payoneer.com/

thx

[stevehaigh]

i should add that i'm interested in cheap, not fast, doesn't matter to me if it takes 10 days but i don't want to be paying hundreds of dollars in fees and commisions

just found this

http://voices.yahoo....er-8073844.html

i can't figure out how to add a non US bank to my paypal account anyhow, but it sounds like an expensive option if the comments at the bottom of this article are correct

i guess the payoneer way is to send money to them then use the mastercard they give you to withdraw at an ATM but i expect that is a very expensive way to withdraw larger amounts

i wonder about opening a paypal account in thailand and transfer to that? would that be cheaper?

[sas_cars]

You better open a Thai Paypal account and withdraw your funds to your Thai Bank Account. Paypal will convert your money into Thai Baht @ around 2.5 % markup and transfer the funds to your local thai bank account. It's by far the painless method.

[stevehaigh]

You better open a Thai Paypal account and withdraw your funds to your Thai Bank Account. Paypal will convert your money into Thai Baht @ around 2.5 % markup and transfer the funds to your local thai bank account. It's by far the painless method.

is that 2.5% including fees for transferring from my US paypal to my thai paypal? in other words, if i transfer say USD10,000 from my US paypal to my thai paypal and then to my thai bank, assuming the rate is 30:1, i would see what? 300,000-7500 = 292500 give or take a few baht?

thx

[falang07]

beware of the Paypal's exchange rate, it will be way worse than what the Thai banks offer

[sas_cars]

You better open a Thai Paypal account and withdraw your funds to your Thai Bank Account. Paypal will convert your money into Thai Baht @ around 2.5 % markup and transfer the funds to your local thai bank account. It's by far the painless method.

is that 2.5% including fees for transferring from my US paypal to my thai paypal? in other words, if i transfer say USD10,000 from my US paypal to my thai paypal and then to my thai bank, assuming the rate is 30:1, i would see what? 300,000-7500 = 292500 give or take a few baht?

thx

I am not sure on that. But Paypal charges around 4 % to beneficiary for receiving payment (if beneficiary has a merchant account) . I am not sure about personal account though. So in worst circumstance, you'll be paying 4 % + 2.5 % (currency exchange markup) = 6.5 % of your total money once it enters your Thai account.

[montrii]

I have both Thai and a U.S. PayPal accounts. Generally I find that for transferring money into my Thai SCB bank account it's better to use my U.S. Paypal debit card at an Aeon ATM and deposit the cash into SCB, rather than putting the US money into the Thai PayPal account first. Exchange rate seems to be a lot better, and it's faster, too. A little clunky, but what the heck.

[davejones]

I think payoneer is pretty expensive, so no good if you want a cheap method. Plus, your funds will end up in USA. Ok if that's what you want.

[Terry Newman]

Paypall exchange rate is really nasty, they don't publish it for a reason, it really is that bad. You only see it in the last stage of a transaction. Oh, then there are their fees, then it takes a week.

Paypall is one big vomit company.