New! Withdraw Paypal Funds To Thai Bank Accounts

[Khun Bob]

I just added my kbank webcard to my paypal account and I now have to wait a couple of days to get my 4 digit number to get verified.

rono - your a star - seems kasikorn web card may be the way forward - am i right in thinking that the application and use of the card is completely online ? So this gives you a debit card you can use for online purchases and will be acceptable to paypal with the Thai address i have onfile for kbank - if this is so this is true.

Also Kbank rocks - they are the most together hassle free thai bank i have encountered. Just phones up to get one time password enables as they have been victims of phishers... Just done a whois search on kasikornbank and there are quite a few - still knowing the compliance of thai people the amounts may not be high but pickings easy... Good on kasikorn to make it harder, yet easy to get. In several ways Thailand is ahead of the UK.

[inthaiguy]

Just to confirm, transfered $25 to Kbank and about 5 business days later, I received 858.94 baht. So it does work, and does take 2.5% + 50 baht. (for transfers under 5000 baht.)

[rono]

From my experience, kbank is the way to go, I will repeat procedure: open account and fill in cyberbanking form at any branch, just need to give a copy of pasport and valid email address.

After receiving email from kbank you following insctructions and apply online for webcard (this is a virtual debit card). Again you will receive email from kbank with your 16digit card number and ccv number. Go to paypal, add kbank to your account, they will deduct usd 1.9, check you kbank statement and you will see you paypal number, fill in paypal account with this number and you will become verified.

It took kbank 3-4 working days from opening account to getting my webcard, fantastic. It took paypal 2 working days to get verified. I now have set up my ebay store without any problems.

I don't have shares with kbank

[Khun Bob]

From my experience, kbank is the way to go, I will repeat procedure: open account and fill in cyberbanking form at any branch, just need to give a copy of pasport and valid email address.

After receiving email from kbank you following insctructions and apply online for webcard (this is a virtual debit card). Again you will receive email from kbank with your 16digit card number and ccv number. Go to paypal, add kbank to your account, they will deduct usd 1.9, check you kbank statement and you will see you paypal number, fill in paypal account with this number and you will become verified.

It took kbank 3-4 working days from opening account to getting my webcard, fantastic. It took paypal 2 working days to get verified. I now have set up my ebay store without any problems.

I don't have shares with kbank

inthaiguy and rono - thanks alot !

so paypal take 2.5% (+50 baht of below 5K transferred) - with this info you can work out the sweet spot compared to doing a swift/international transfer.

Rono - when paypay do a deduction on your webcard does the money go into your account or do they take it as an admin fee (ripoff fee) ? With paypal UK they actually gave me some money ! and i had to tell them how much - when i said it wast enough the paypal robot did not compute !

If you or anyone else has comments on my previous posts - would love to hear...

I'm just wondering now if it is worth it to verify the account, or just get a new account when the transfer amount has run out. Also my method of creating accounts for people you want to transfer money to. I am assuming I can transfer cash I put into my UK Paypal account to the thai accounts i create and there will only be a charge for filling up an account in the UK - not one for sending the money to the thai paypal account.

Cheers

[Khun Bob]

Just to confirm, transfered $25 to Kbank and about 5 business days later, I received 858.94 baht. So it does work, and does take 2.5% + 50 baht. (for transfers under 5000 baht.)

Just a thought - is the exchange rate loading published anywhere ? (ie is it 2.5% for all transactions or on a sliding scale with larger trans charged less etc)

TIA

[rono]

When i checked my kbank online I noticed they deducted 78baht from my savings account. This amount being the usd. 1.90 or 1.95 (forgot it). Theonline statement also showed "paypal" and that it was for my expansion number, this number also showed up on the statement and had to be used to get verified. I am now verified thai.

Kbank also sent me an email saying they deducted 78 baht from my account, what a service.

I dont have foreign account so no experience about this, just my simple kbank account. paypal says thay will pay back this 78 baht when i make transactions. They may be a pain in the ass and they may suck but I need paypal for my online business.

rono

[Khun Bob]

Well I just signed up for a kbank web card - read all the t&c's and saw annual charge - so began to think is it worth it as thai banks like to charge for many things western banks provide free - well chescked the fees and sign up and annual fee are free - well pleased about that. So pay pal take about $2 - when they say give it back on your first transaction - what they are saying is they give you back part of the profit they make for you - still if it is essential it is small change - i think paypal could learn a bit from kasikorn bank ! I expected to have alot of problems when i requested one time password and i am in uk now - but no problems at all ! It really works well too - and it looks like kbank has been the subject of phishing attaks - they respond better than uk banks do by providing a reasonable second level of securiy for citical transactions.

Rono - i just wondered how you specified your address for paypal as i can see the address kbank have for me, but they have it like this :

Number xx/x

Moo x

Soi

Street xxxxxxxxxxxxxxxxxxx

Sub-district xxxxxxxxxxxxxxxxxxxxxx

District xxxxxxxxxxx

Province xxxxxxxx

Post Code xxxxx

please substitute x's with your favorite thai address...

when you specified your address in paypal did you put all the line descriptions aswell (ie Number, Moo, Soi etc) or just the data after the line descriptions (hope you understand what i mean

Also, if anyone would like to comment on the points i have raised in my last 4/5 posts on this thread - would love to hear

Cheers all

[Khun Bob]

Bunp - comments on my last 4/5 posts anyone ?

[rono]

Bob, I didn't take any risk with paypal when giving the info they wanted, thought a small mistake or something could be a reason not to get the verified account.

I used the same address as my kbank account, in case paypal checks it out they will find everything to be correct:

number, moo, subdisctrict, disctrict, province, post code, country:thailand

if you dont have a moo I guess no need to fill in

I thought I needed to get verified to be a buyer and seller, looks better for business also. The 73 baht is a small price to pay and you get it back.

rono

[rono]

one more thing, postings here are always about paypal, many people don't like paypal (even some ebay vendors), for my online shop I also signed up with moneybookers and paysbuy. Thought better to keep your options open.

[inthaiguy]

Say your international Wire fee is $25 - $40. That would mean break even is around 1k USD to 1,600 USD.

So roughly, if you want to transfer in LESS than 1,000 USD (37, 000 baht) use Paypal. If you want to transfer MORE, do a wire transfer.

[Khun Bob]

Bob, I didn't take any risk with paypal when giving the info they wanted, thought a small mistake or something could be a reason not to get the verified account.

I used the same address as my kbank account, in case paypal checks it out they will find everything to be correct:

number, moo, subdisctrict, disctrict, province, post code, country:thailand

if you dont have a moo I guess no need to fill in

I thought I needed to get verified to be a buyer and seller, looks better for business also. The 73 baht is a small price to pay and you get it back.

rono

Thanks for the replies - sorry just to go back to one of my earlier points when entering your address in paypal - did you actually type in the words moo, soi or as these are line headings leave them out. I can see my address in my kbanking account and i just wanted to know if you had difficulty matching the 2 up - but it sounds like you didnt. I guess I can try as i allready know what happens when the address is wrong - just concerned that there maybe only a certain number of times that you can enter an address before getting locked out or something like that...

[Khun Bob]

Am i right in thinking that I can fund my uk paypal with a credit card or attached account free of charge, then send money to a thai paypal account free of charge, then withdraw to a thai bank account and pay 2.5% fee, plus 70 ish baht if under 5K ?

If this is wrong then pay pal may not be such a cheap option...

[Khun Bob]

Bump

Anyone care to comment on how they entered their Thai address or if they had any problems when they did (see above posts)

Also am i right in thinking that I can fund my uk paypal with a credit card or attached account free of charge, then send money to a thai paypal account free of charge, then withdraw to a thai bank account and pay 2.5% fee, plus 70 ish baht if under 5K ?

If this is wrong then pay pal may not be such a cheap option...

[space cowboy]

OK...here goes. My own head spins when I try to inquire about this. Need advice about this:

Want to:

transfer funds from my gfs account here in Thailand (Kbank or Siam Comm. or Bangkok Bank) to MY existing paypal account (opened in USA about 3 yrs ago but still active).

then transfer funds from MY paypal account to MY US based Credit/cash card that accepts $$ from paypal.....

Doable??? Thoughts are appreciated.

[Rice_King]

Want to:

transfer funds from my gfs account here in Thailand (Kbank or Siam Comm. or Bangkok Bank) to MY existing paypal account (opened in USA about 3 yrs ago but still active).

then transfer funds from MY paypal account to MY US based Credit/cash card that accepts $$ from paypal.....

1. Open PayPal account for GF (if she does not already have one) using her bank account info.

2. Once the GF's PayPal account is up and running, have her send funds from her PayPal to your PayPal account.

3. Transfer your PayPal funds into you bank account / debit card.

[mikmik111]

hello to all, I'm a newbie here.

I have a question, I added my Kasikorn bank account on paypal,

and I wonder why does it say "Checking Account"?

where it should be "Savings Account"?

anyway, I withdrawed 2 days ago and paypal said that the transaction is completed.

I still haven't recieved my money.

Do I have to wait 5-7 days

or is something wrong?