Paypal And Thailand

[mouse]

I know that no one reads those darned policy annmouncements but here is an important one for many of you........

Amendment to the User Agreement

Notice Date: August 10, 2006

Effective Date: September 14, 2006

Beginning September 14, 2006, registered PayPal users in the Czech Republic, Hungary, Poland and Thailand will be able to receive funds into their PayPal accounts as well as withdraw them to a local bank account.

Source: PayPal website

Edited August 14, 2006 by mouse

[mouse]

Heck this will be a revolution for the Expats, Bargirls and ebay traders in Thailand. This is certainly not a time to buy stock in Western Union or the Thai Post Office, which due to loosing their exclusivity, will take a beating.

Just think of it. Instant transfers to buy mediciation for those sick Buffaloes

[udon]

Thanks for the heads-up.

[bennyboy0102]

So if you have a Thai bank account, you can now withdraw to it????

[mouse]

So if you have a Thai bank account, you can now withdraw to it????

So it seems. Actually this is a great change that will affect many of us. Want to get money to your Thai family quickly and cheaply, than this is the way. Those of you that want to soemthing in ebay, this is the way. Want to run an online shop, this is the solution. You are Thai and want order something out of the states..... again a viable solution.

[thaitero]

Does this mean that If one has european/usa paypal account, one can use thai-account with this setup or should one signup separate paypal-account if using thai-account to withdraw money ?

[Charma]

Does anyone know how good the paypal exchange rates are compared say with a good bank rate?

[Heng]

Does this mean that If one has european/usa paypal account, one can use thai-account with this setup or should one signup separate paypal-account if using thai-account to withdraw money ?

I doubt it would be that easy.... although that would be perfect, now wouldn't it? No wire transfer fees. Although myself I wouldn't trust Paypal with more than a few thousand US$ at a time because of their itchy finger on the 'freeze account until you fax a picture of your grandmother's poodle' button thing, so really only effective for small amounts.

[mouse]

Does this mean that If one has european/usa paypal account, one can use thai-account with this setup or should one signup separate paypal-account if using thai-account to withdraw money ?

I doubt it would be that easy.... although that would be perfect, now wouldn't it? No wire transfer fees. Although myself I wouldn't trust Paypal with more than a few thousand US$ at a time because of their itchy finger on the 'freeze account until you fax a picture of your grandmother's poodle' button thing, so really only effective for small amounts.

Actually it will be as easy as adding an account or credit card to the account as is allowed under normal rules. Unless they have a suprise for Thai accounts. There are of ocurse the transfer fees, transfer to foreign accounts, but, yes still quite better than bank fees or certainly Western Union. I would keep everything under one roof and yes watch that "FREEZE BUTTON". I guess that we will have to see what happens with this, but, I personally see it as a gift to us living here.

[SoMeOnEnUlL]

Thanks for the good news!

[binnsy]

WHY cant the BIG 4 banks inthe uk let you transfer money without the large charges.HSBC is all over Thailand with adverts but why do they not allow us brits to transfer via the net from the UK?

APART FROM THE OBVIOUS

[Ta22]

i try looking for the same info on the PAYPAL website but i cannot find it .

Can you kindly add the LINK so everyone can confirm .

[Conan]

Yes link please before i get too excited.

[mouse]

i try looking for the same info on the PAYPAL website but i cannot find it .

Can you kindly add the LINK so everyone can confirm .

Sorry the post was an update inside my account and my wife said that if I link strangers to my account then she wants a larger allowance. So that option is out cause she is already too expensive.

[geoffphuket]

I know that no one reads those darned policy annmouncements but here is an important one for many of you........

Amendment to the User Agreement

Notice Date: August 10, 2006

Effective Date: September 14, 2006

Beginning September 14, 2006, registered PayPal users in the Czech Republic, Hungary, Poland and Thailand will be able to receive funds into their PayPal accounts as well as withdraw them to a local bank account.

Source: PayPal website

There's no info' regarding this on the PayPal website , So, has anyone else received it, or can confirm the details?

[poorfarang]

I can confirm.

I have a Paypal account using my GF's name and I recieved the same notice on my account.

[Conan]

I log into my paypal account and click on "policy Updates" on the left in small print on the initial screen and search for Thai this is the only thing that comes up:

Enabling New Countries for PayPal

Notice Date: 29 April 2004

Effective Date: 4 June 2004

Users from the following seven countries: Ecuador, Malaysia, Monaco, Thailand, Turkey, Uruguay and Venezuela will be allowed to create PayPal accounts, send and receive money and withdraw money to US banks.

Users from the following four countries: Jamaica, Argentina, Costa Rica, and the Dominican Republic will be allowed to receive money in addition to their existing capability of sending money.

Nothing there about withdrawing to Thai accounts, and check the date on this notice.

[King Dong]

It will be a lot easier to manage if they allow the THB as a paypal base currency

Edited August 15, 2006 by King Dong

[Ta22]

-- Whahha Paypal aside . -- i mean , Wife Support to help you - make your life better -

If my Wife is like a Expensive car to keep - i would consider sleling her away . swaping for one that hlp me save or earn money whahha

My 2 cent .

I alway tell my friends . i work every day . and when i am home i want a home not another office . where i have people telling me what i must do and pay for . whahha

-

Back to paypal .

This would be a great improvment . i am thinking to do some trading across country and this might be a good way to look into it .

but i was thinking to fly back singapore and start a bank account to do this from singapore .

as i have so far no problem withdrawing From ATM from any DEBIT CARD i have from singapore .

.

Ta22

[Heng]

Does this mean that If one has european/usa paypal account, one can use thai-account with this setup or should one signup separate paypal-account if using thai-account to withdraw money ?

I doubt it would be that easy.... although that would be perfect, now wouldn't it? No wire transfer fees. Although myself I wouldn't trust Paypal with more than a few thousand US$ at a time because of their itchy finger on the 'freeze account until you fax a picture of your grandmother's poodle' button thing, so really only effective for small amounts.

Actually it will be as easy as adding an account or credit card to the account as is allowed under normal rules. Unless they have a suprise for Thai accounts.

I haven't inquired with customer service, but I have a US Paypal account attached to one of my US bank accounts. I also have a couple of Singapore bank accounts that in the past, I wanted to attach to my Paypal account. In the 'add bank' section, it keeps the country where you opened the Paypal account as the default, that is there isn't a drop down screen to add bank accounts from other countries... Does the Thai Paypal account add bank screen allow you to select other countries to add banks from?

[ffm]

I haven't inquired with customer service, but I have a US Paypal account attached to one of my US bank accounts. I also have a couple of Singapore bank accounts that in the past, I wanted to attach to my Paypal account. In the 'add bank' section, it keeps the country where you opened the Paypal account as the default, that is there isn't a drop down screen to add bank accounts from other countries... Does the Thai Paypal account add bank screen allow you to select other countries to add banks from?

PayPal does not allow bank accounts from multiple countries. One PayPal account can have US bank accounts attached, plus bank accounts of the country where the PayPal account was registered. So if the account is French, withdrawals can be made to bank accounts in the US and France but not to other countries. Also, they don't support switching accounts between countries or having addresses in other countries than the country the account was originally registered in.

If you want to use your Singaporean bank accounts for PayPal you need a new PayPal account with a Singapore address. Most likely the same will apply to Thai PayPal accounts.

[Heng]

Thanks Ffm. Good info. I assumed as much from the US account side; sounds like non-US accounts have a minor advantage then IF they can add from a non-US account and withdraw to their US account and vica versa while incurring lower fees than the average wire transfer fee. Any idea/info regarding this?

[Beavis and Butthead]

There will be catches I believe. We will have to wait and see what they are. We have already identified some like the defaulting of the country of your main address so cannot add 2nd country. I e-mailed them on that one and they said no can do

[ffm]

sounds like non-US accounts have a minor advantage then IF they can add from a non-US account and withdraw to their US account and vica versa while incurring lower fees than the average wire transfer fee. Any idea/info regarding this?

The advantage is really minor because most non-US PayPal members don't have access to US bank accounts. For small amounts your idea may be a viable. Above $1000 it won't make sense because you always lose about 2% when PayPal converts the currencies as they use their own very unfavorable exchange rates. Another point: It is not clear yet if there will be transfer fees for withdrawals to Thai bank accounts. In Singapore only transfers abouve SGD 199 are free. Furthermore, the question is whether the Thai banks will charge for incoming PayPal transfers. If PayPal transfer the money internationally the banks may charge their usual 200 Baht fee, as they do with Moneybookers.

[roamer]

Attaching screen grab of the relevent policy update.

Edited August 23, 2006 by roamer

[nullx8]

lets wait 20 days and see whats happening ;-)

[Oleg_Rus]

For payments I use local thai paysbuy.com pretty easy to deal with, can accept credit cards and charge onl;y 3.75% flat. PayPal - I heard many stories about frozen accounts - very depressing, I think

[Farside]

For payments I use local thai paysbuy.com pretty easy to deal with, can accept credit cards and charge onl;y 3.75% flat. PayPal - I heard many stories about frozen accounts - very depressing, I think

Beware of paypal, All sellers who use paypal are at high risk of losing their cash. There are buyers who can easily get back their payments that they sent just as soon as they have received their goods. Paypal are aware of this but still they havn't added more security and protection to their system

[PattayaXpat]

Below is the question that I just emailed to PayPal:

I have a standard US based account and I have just opened a premeire Thailand based account. Am I allowed to use the same (US Based) bank for both accounts?

Thank You

Dose anyone here have the answer? Typically PayPal dose not answer your question's correctly the first time!

Thanks

[N47HAN]

sounds like non-US accounts have a minor advantage then IF they can add from a non-US account and withdraw to their US account and vica versa while incurring lower fees than the average wire transfer fee. Any idea/info regarding this?

The advantage is really minor because most non-US PayPal members don't have access to US bank accounts. For small amounts your idea may be a viable. Above $1000 it won't make sense because you always lose about 2% when PayPal converts the currencies as they use their own very unfavorable exchange rates. Another point: It is not clear yet if there will be transfer fees for withdrawals to Thai bank accounts. In Singapore only transfers abouve SGD 199 are free. Furthermore, the question is whether the Thai banks will charge for incoming PayPal transfers. If PayPal transfer the money internationally the banks may charge their usual 200 Baht fee, as they do with Moneybookers.

Moneybookers allow debit transfers to and from Thai bank accounts?

Told me only CCards a few months back has it changed?