engrin Posted August 27, 2014 Share Posted August 27, 2014 Just wondering which type of Thailand Paypal account is best for a business to receive payments? Also if you need to have a registered business first to be able to use that particular type of account? What percentage is taken off each transaction? Thanks for any advice! Link to comment Share on other sites More sharing options...
Cappella Posted August 27, 2014 Share Posted August 27, 2014 Hi, I have been using a Paypal Business account for several years, it's working perfect for me. Takes about 1 week to withdraw from paypal to bank account. You need a registered company in Thailand and a company bank account in a Thai bank. Note that there is a 4.5% paypal fee on receiving payments for amounts larger than 1000€ an international wire transfer is usually better. David. Link to comment Share on other sites More sharing options...
yankee99 Posted August 27, 2014 Share Posted August 27, 2014 Hi, I have been using a Paypal Business account for several years, it's working perfect for me. Takes about 1 week to withdraw from paypal to bank account. You need a registered company in Thailand and a company bank account in a Thai bank. Note that there is a 4.5% paypal fee on receiving payments for amounts larger than 1000 an international wire transfer is usually better. David. Interesting as all payments i receive amount is irrelevant have a 4.5% fee. Although i have a thai ltd co it was not required to open the account. My payments go to my personal account and not my company account. After some larger transactions ฿20,000 up PayPal asked for more documentation. I believe proof of address and something else... Link to comment Share on other sites More sharing options...
WebGuy Posted August 27, 2014 Share Posted August 27, 2014 When someone sends me the money by PayPal, 4.5% fee is always cut. It really did not matter if the amount was less or more 1000 eur. Is there any cheaper way to send or receive money in Thailand than PayPal as I thought that this is the cheapest way? Link to comment Share on other sites More sharing options...
Cappella Posted August 27, 2014 Share Posted August 27, 2014 When someone sends me the money by PayPal, 4.5% fee is always cut. It really did not matter if the amount was less or more 1000 eur. Is there any cheaper way to send or receive money in Thailand than PayPal as I thought that this is the cheapest way? I'm sorry, there was a comma missing in my sentence, I was saying indeed there is a 4.5% commission taken by paypal on all payments received. And I meant that for amounts over 1000 Euros the commission (45€) becomes higher than the fee for an international wire transfer. It's true that a company account is not required for a company, but for a paypal company account a company bank account is. Personal accounts may be suspended by paypal pending verifications, and they can get pretty annoying, I have a friend who had a very bad experience and had over 5000€ frozen for almost 3 months doing business on a paypal personal account (he was in Thailand). I would only recommend doing business using a business account. Link to comment Share on other sites More sharing options...
WebGuy Posted August 27, 2014 Share Posted August 27, 2014 You really helped me to save some money. So, in order to avoid this 45 eur fee the one who sends the money can send 999 eur and the fee can be avoided. Thanks Link to comment Share on other sites More sharing options...
Cappella Posted August 27, 2014 Share Posted August 27, 2014 You really helped me to save some money. So, in order to avoid this 45 eur fee the one who sends the money can send 999 eur and the fee can be avoided. Thanks No, sorry as I said above, a comma was missing (and for some reason I can't edit my first post). there is a 4.5% fee whatever is the amount, if you receive 100€ the fee will be 4.5€, if you receive 500€, the fee will be 22.5€, if you receive 1000€ it will be 45€, if you receive 10000€ it will be 450€!!... Since international transfer cost between 30 and 50€ and clears in 2-3 business days, it's not interesting for amounts over 1000€ Personal account have lower fee for receiving money which is not business related (I forgot how they call it), however you'll get your account suspended pending verification if you use that method (that's what happened to my friend who had to pay the 4.5% in the end after having his money frozen for almost 3 months). Link to comment Share on other sites More sharing options...
Maestro Posted August 27, 2014 Share Posted August 27, 2014 No. Cappella modified his first statement to say that "there is a 4.5% commission taken by paypal on all payments received." Therefore, for a remittance of EUR 999.00, Paypal would deduct 4.5% of EUR 999.00, which is EUR 44.96 Link to comment Share on other sites More sharing options...
2008bangkok Posted August 27, 2014 Share Posted August 27, 2014 Moneybookers is a lot cheaper than PayPal think it's changed it's name now but situ cheaper Link to comment Share on other sites More sharing options...
thairastawoman Posted August 27, 2014 Share Posted August 27, 2014 Moneybookers is a lot cheaper than PayPal think it's changed it's name now but situ cheaper Moneybookers/skrill are complicated monkeys. I hate paypal but it is still the best. And with Paypal in Thailand no need to declare anything and pay any tax... Link to comment Share on other sites More sharing options...
BKKdreaming Posted August 27, 2014 Share Posted August 27, 2014 Paypal does take their time transfering money from your paypal account to your Thai bank account, they say it has to go thru Dallas Texas and takes 5-7 days, This is really BS in the internet age but lets them hold onto the $$$$ longer Link to comment Share on other sites More sharing options...
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