Paypal

[booma]

I wish to sell some merchandise on ebay, can I set up an account with paypal with a thai bank account.

[ColPyat]

No.

[bkkmadness]

As far as I am aware, you can register a paypal account with a Thai bank account and your ID there but the funds cannot be withdrawn to it.

For that you'll need a bank account in one of the approved countries, in fact you may need a US account specifically (if you are registering it with a Thai bank account) to withdraw the funds to, which you can set up even if a non US resident.

Edited March 8, 2006 by bkkmadness

[khall64au]

As far as I am aware, you can register a paypal account with a Thai bank account and your ID there but the funds cannot be withdrawn to it.

For that you'll need a bank account in one of the approved countries, in fact you may need a US account specifically (if you are registering it with a Thai bank account) to withdraw the funds to, which you can set up even if a non US resident.

How does one set up a US bank account as a non-US resident outside of the US ?

[Noel]

As far as I am aware, you can register a paypal account with a Thai bank account and your ID there but the funds cannot be withdrawn to it.

For that you'll need a bank account in one of the approved countries, in fact you may need a US account specifically (if you are registering it with a Thai bank account) to withdraw the funds to, which you can set up even if a non US resident.

How does one set up a US bank account as a non-US resident outside of the US ?

On the face of it, it appears that it can be done here but best do some thorough research first if you really have the need to open such an account...

[Joey Boy]

Since the Patriot act and post 9/11 non US citizens can't open a checking/current account unless they are on US soil

As far as I am aware, you can register a paypal account with a Thai bank account and your ID there but the funds cannot be withdrawn to it.

For that you'll need a bank account in one of the approved countries, in fact you may need a US account specifically (if you are registering it with a Thai bank account) to withdraw the funds to, which you can set up even if a non US resident.

How does one set up a US bank account as a non-US resident outside of the US ?

On the face of it, it appears that it can be done here but best do some thorough research first if you really have the need to open such an account...

That site is a scam

[English Noodles]

As far as I am aware, you can register a paypal account with a Thai bank account and your ID there but the funds cannot be withdrawn to it.

For that you'll need a bank account in one of the approved countries, in fact you may need a US account specifically (if you are registering it with a Thai bank account) to withdraw the funds to, which you can set up even if a non US resident.

How does one set up a US bank account as a non-US resident outside of the US ?

On the face of it, it appears that it can be done here but best do some thorough research first if you really have the need to open such an account...

Has anyone here done this before, i am quite interested but at the same time quite reluctant.

Noodles.

[bkkmadness]

Since the Patriot act and post 9/11 non US citizens can't open a checking/current account unless they are on US soil

As far as I am aware, you can register a paypal account with a Thai bank account and your ID there but the funds cannot be withdrawn to it.

For that you'll need a bank account in one of the approved countries, in fact you may need a US account specifically (if you are registering it with a Thai bank account) to withdraw the funds to, which you can set up even if a non US resident.

How does one set up a US bank account as a non-US resident outside of the US ?

On the face of it, it appears that it can be done here but best do some thorough research first if you really have the need to open such an account...

That site is a scam

Any more info on that Joey Boy, link to info about it?

Anyway, google search 'non resident US bank accounts', quite a few come up in the adwords but of course with this you would have to be very wary who you deal with. I'm looking into it myself now.

[English Noodles]

Since the Patriot act and post 9/11 non US citizens can't open a checking/current account unless they are on US soil

That site is a scam

That was my initial thought, i would be interested wht other people think or if they have had experience of this before.

Noodles.

[bkkmadness]

I do know a couple of people that have set up US bank accounts from here using a Thai account. They do seem a little different though and as part of the agreement you need to purchase shares from them, though this can be as little as a couple of hundred dollars worth.

As it happens one of them did not buy shares and the account was frozen until he does buy them, another bought some shares and has made some good money on them also. Both accounts have been running well over a year now. It seems a funny system but the one who bought some shares said its been excellent service so far. I haven't a clue of what banks though, I believe they found the accounts through just a search on the net through one of these bank brokerage places.

It seems it can be done, but you need to be very careful who you choose.

[Joey Boy]

Any more info on that Joey Boy, link to info about it?

Speak to any of the banks in question, they will tell you that you have to go and open the account personally, pre 9/11 it would have apparently been possible but the Patriot act put a stop to it

[bkkmadness]

It seems to me like a few people have found a way around this though Joey Boy, as I say I know a couple of people that have done so. I'm no financial wizard but I expect there are a few ways you can Thai bank account, register with Paypal and then have the money deposited in the US and then withdraw it over here. Whether its a 'bank account' or some other entity where they can take your money for you I don't know. As I say, pretty clueless about the ins and outs of financial services, but I know something can be sorted out. Both my friends accounts were opened well after 9/11.

Anyway, perhaps a bit off topic here. The OP can definately open a paypal account with a Thai bank, and can probably have that deposit the money into their home bank account (assuming the OPs a farang with a bank account in his homeland).

[Joey Boy]

It seems to me like a few people have found a way around this though Joey Boy, as I say I know a couple of people that have done so. I'm no financial wizard but I expect there are a few ways you can Thai bank account, register with Paypal and then have the money deposited in the US and then withdraw it over here. Whether its a 'bank account' or some other entity where they can take your money for you I don't know. As I say, pretty clueless about the ins and outs of financial services, but I know something can be sorted out. Both my friends accounts were opened well after 9/11.

They will be trading accounts and not personal checking/current accs

[bkkmadness]

Ah, that clears that up for me, cheers Joey Boy.

It does seem that those trading accounts can be used then for the same purpose, just need to buy some minium amount of shares every once in a while. Does that sound about correct?

[monochaser]

I opened a US bank account online from Thailand and never set foot in the bank. Of course though I am a US citizen with a US address. I guess that helped.

[Joey Boy]

aye aye, some require a portfolio others require $10k to open

[TAWP]

I linked the VISA-card (from back home, non-US) to my paypal-account and I can transfer monet from paypal directly into it without problems. And then take them out via any ATM over here...

Edited March 8, 2006 by TAWP

[Carmine6]

Since the Patriot act and post 9/11 non US citizens can't open a checking/current account unless they are on US soil

That site is a scam

That was my initial thought, i would be interested wht other people think or if they have had experience of this before.

Noodles.

Here's how they get around the restrictions on opening accounts:

"How do we get our mails if you need a US mailing address?

We work in partnership with Access USA to provide you with a US mailing address in order to foward mails from the bank directly to you.

Do I need a SSN, EIN or ITIN to get a bank account?

Yes, but if you currently dont have a SSN, EIN or ITIN we will get an ITIN or EIN for you, if you already have an ITIN, EIN or SSN we will need it. We cannot apply for SSN."

They're probably lying to the bank and saying you have a business office or vacation property in the US. You would also have to lie to get an ITIN (individual tax ID number) or an EIN (employer ID number). Realisitcally, someone with an ITIN and an address in the US can open a bank account online in some cases, and by mail in others. You just have to submit appropriately certified identification documents, which is exactly what they're asking for.

If you are willing to take a chance that this is legitimate and give them all kinds of personal information, its still going to take months for the ATM card to end up at your door. At that point, all the monthly account fees and then the ATM withdrawal fees will have shaved off a good bit of your funds.

Oh, and see other threads for recent restrictions by Wells Fargo and B of A, and today Citibank in using Thai ATMs.

[feasantplukka]

No.

y

[Pattayatony]

Since the Patriot act and post 9/11 non US citizens can't open a checking/current account unless they are on US soil

This is NOT true as I have opened a US Checking account from here on my computer and its working just fine. Im not a US citizen.

You DON'T need a US address.

It has cost me several hundred Dollars and a lot of research. I got scammed for $400.00 by one website.

Its better if you DON'T use your Thai bank for ID but wait until you have your US Bank account up and running and use that for ID

If you wish to sell on Ebay there are plenty of payment options but the yanks like to use Paypal.

On Ebay your address will show Thailand and buyers are put off by sellars in Thailand.

Selling on Ebay isnt easy and you will have to have a good product to make any money, otherwise all of your profits will be eaten up with Ebay fees

If you want any more info email me.

Cheers Tony

Edited March 9, 2006 by Pattayatony

[ColPyat]

No.

y

From the paypal website, http://www.paypal.com/cgi-bin/webscr?cmd=_...ntries-outside:

Users in these countries cannot withdraw funds to their local bank account electronically or by paper check. They can withdraw funds to a U.S. bank account.

Costa Rica

Dominican Republic

Iceland

Israel

Malaysia

Thailand

[bkkmadness]

Colpyat, you cannot withdraw funds to a Thailand bank account with your paypal account, but you can register it with a Thai bank account. I think thats where your misunderstanding is coming from. They changed it to allow Thailand maybe 2 years back now.

[CMCool]

I wish to sell some merchandise on ebay, can I set up an account with paypal with a thai bank account.

Yes, you can. But to withdraw funds you need to send it to somebody (that you trust!) with a Paypal account who then will tranfer it to your bank account, or much cheaper and faster if you are sharing another internet banking service with that person, such as Moneybookers. Then I believe with the latter service you can withdraw you money to your bank in Thailand very cheaply.

Edited March 9, 2006 by CMCool

[gregchambers]

Possibly better to register the Paypal acc in your home country and then transfer funds to Thai bank account via a broker such as ikobo which will charge 5-10 percent. Google something like Paypal Thailand bank account may get you some others with better deals. I have also used UK EGG card and bank acc as it limits the risk as minimal funds in the account.

Be careful with registering credit cards on Paypal - you can only use it the once so the first country you use you are stuck with if it unless you have more than one card.

Also if you try to sell on eBay you have to monitor your email and Paypal religiously because if someone complains and you don't respond then your account can be frozen.