Funding Thai Paypal From Uk Paypal

[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 ?

Cheers

[Khun Bob]

The answer is yes you can and it is free - however, and this is one big F*ckin however, the receieving paypal account has to be verified with a thai credit card in order to withdraw the funds to a thai bank account...

[mouse]

The answer is yes you can and it is free - however, and this is one big F*ckin however, the receieving paypal account has to be verified with a thai credit card in order to withdraw the funds to a thai bank account...

Kuhn Bob, Check again. I have had a Thai account for 3 years now linked to a US Bank and US MasterCard. Recently I added the Bangkok Bank link and was able to transfer without any additional confirmation. And yes moving money to and from all 3 of my added Bank account is cost free. So yes he should be to theoretically move funds that way without a problem.

If it is for a Thai GF I would however make sure that she has the Bank Card (to the your Thai Bank account/not credit card) allowing only ATM withdrawal and keep the PayPal linked to you only.

[samran]

The answer is yes you can and it is free - however, and this is one big F*ckin however, the receieving paypal account has to be verified with a thai credit card in order to withdraw the funds to a thai bank account...

hmmm, I have both a UK and Thai CC.

Must try it one day!

[mouse]

There is an option making one or the other the main account. Mark the verified one and that other can then receive funds only. I have not tried to transfer funds out of Thailand yet.

Keep us posted!!

[Khun Bob]

The answer is yes you can and it is free - however, and this is one big F*ckin however, the receieving paypal account has to be verified with a thai credit card in order to withdraw the funds to a thai bank account...

Kuhn Bob, Check again. I have had a Thai account for 3 years now linked to a US Bank and US MasterCard. Recently I added the Bangkok Bank link and was able to transfer without any additional confirmation. And yes moving money to and from all 3 of my added Bank account is cost free. So yes he should be to theoretically move funds that way without a problem.

If it is for a Thai GF I would however make sure that she has the Bank Card (to the your Thai Bank account/not credit card) allowing only ATM withdrawal and keep the PayPal linked to you only.

Yes your right - the address of the credit card has to be in thailand but the card does not have to be a thai credit card..

Sound advice on just providing the ATM withdrawn card too...

[Khun Bob]

The background to this post was that I thought there may be a way using paypal to send a small amount of money to several thai bank accounts. Anyone can open a thai paypal account and then associate that with a thai bank account. It was to be one paypal account for each person I wanted to transfer money to. Alls well but in order to withdraw money from thai paypal to a thai bank account it has to have an associated credit card with a thai address. I guess if there is a high degree of trust you could create a thai paypal account for a person and if they provide their credit card details and cooperate in the paypal verification process then you could transfer unlimited funds to them for the paypal charges. This works out cost effective if it is frequent smallish amounts. However, if you want to take advantage of favorable exchange rates, and larger amounts - paypal is not the best. Better do a bank transfer to your own thai bank account then do smaller, frequent transfers from your thai account to the 3rd parties. And insist the third party has an account with the same thai bank as you and within the same banking area. Typically, thai banks do not charge a transfer fee in this case. But if not it can be from 10baht to 30baht+ per transfer.

Now paypal is offering this there are quite a few ways money can be sent to thailand or from thailand for a resaonable cost (for small amounts of money anyway - larger amounts is better via bank transfer)

Another avenue I am exploring is to transfer money to my thai bank account using paypal, then just do a transfer to another bank account using an online transfer of funds. Other members have reported that it takes 5-7 days to come through and there is 2.5% loading and an extra charge of 50 baht if less than 5K baht