PayPal Thailand

[cmsally]

There are a number of articles that basically say PayPal Thailand will become defunct next February. It seems that only registered businesses will be able to use it.

From the FAQ  

Quote

 

To continue making payments with your PayPal account in Thailand you must verify your full legal name in English as it appears on your government-issued ID and other details if applicable.

Note, holders of PayPal personal accounts or business accounts that are not registered business in Thailand will not be able to receive payments or hold a PayPal balance in PayPal Thailand.

 

Does anyone have any further information on this and a possible workaround if this should be the case.

[JamesE]

Your best bet is to get a PayPal account in your home country if you can meet the requirements. I also read that <possibly> the Thai personal accounts were going to be handled through PayPal Singapore, but that's been over six months ago and I don't know what the current status is or if that plan ever became reality.

[cmsally]

I have an account in UK but still not that convenient if I want to transfer money here as it is linked to my UK bank account.  Above it basically says you can have an account but will not be able to use it (can't hold a balance or accept payments). Something has obviously happened, maybe their "relaunch" didn't go as planned!

[gummy]

3 minutes ago, cmsally said:

I have an account in UK but still not that convenient if I want to transfer money here as it is linked to my UK bank account.  Above it basically says you can have an account but will not be able to use it (can't hold a balance or accept payments). Something has obviously happened, maybe their "relaunch" didn't go as planned!

Why do you want to transfer money here using Paypal, not the best way at all.  Use Wise in the UK to transfer to a Thai bank account. Perhaps you do not have a Thai bank account ? 

[cmsally]

Yes, that is probably what I will have to do (I do have a Thai bank acct). What a hassle though.

[gummy]

Just now, cmsally said:

Yes, that is probably what I will have to do (I do have a Thai bank acct). What a hassle though.

But you have one now so no more hassle.  Transfer to Wise at minimal cost in the UK and then Wise to Thailand at good rates. Very quick, or have I missed something ? Paypal is an expensive option when it comes to exchange rates.

[cmsally]

https://www.dailynews.co.th/news/449244/

 

This is probably a bit clearer but it is in Thai. Basically you can only have an account if you are a registered business. The bank account you use with the PayPal also has to match the registered business name (so basically both PayPal account and bank account have to have the same business name ).

This to me basically looks to be more concerned with collecting tax, (the govt wants to collect VAT on everything). It looks very like using a steamroller to kill one fly.

My guess is they have been negotiating with PayPal up until the last minute to find a way of squeezing money out of them and PayPal has resisted, hence the steamroller!

[cmsally]

OK I am on something of a mission with this. It is not crucial for me as I can route through UK or possibly Singapore, but I've got the bit between the teeth and I am off!

Xoom might be a possible workaround if anyone knows more about the service than me. I am starting research on this but maybe someone is already quite clued up!

[gummy]

3 minutes ago, cmsally said:

OK I am on something of a mission with this. It is not crucial for me as I can route through UK or possibly Singapore, but I've got the bit between the teeth and I am off!

Xoom might be a possible workaround if anyone knows more about the service than me. I am starting research on this but maybe someone is already quite clued up!

I am still trying to get my head around what is the real issue for you here. It appeared to me from your earlier post that you would have liked to have transferred money into a Thai Paypal account and thus into a Thai bank which does not seem possible. Following that you confirmed you have a Thai bank account so tell me what could be no easier than just using Wise and transferring direct to your Thai bank thus maximising advantageous exchange rates ? Personally using Paypal for any money transaction should be avoided.

[dj230]

PayPal stock has been getting crushed lately and this doesn’t bring confidence about global expansion. 
 

I wonder if this is an issue with their new upcoming super app which could be a threat to shopee/ShopeePay and Line that they’re trying to copy 

[cmsally]

OK, after a looooong phone conversation (half an hour) with PayPal Thailand this is what I got out of it!!

1. If you have a personal PayPal account you will not be able to use it to receive or hold money (starting next year as published).

2. If you have a business PayPal account you will need to go through a re-verification process. You will need to supply:

a. photo ID

b. proof of business address

c. official business license /registration

If the business is registered in your spouse's name and the PayPal in yours or vice versa you can apply for a "contact name" change on the account. The names must match but according to the person I spoke with PayPal will be accommodating on this and not make you register for a new account.

(This is my viewpoint - while going through the re-verification process, best not to have much money in the account because it might be tricky to get it out if you fail the re-verification. I posed that question and she couldn't answer!)

That was the gist of our conversation and pretty much all the info. she had. 

[gummy]

10 minutes ago, cmsally said:

OK, after a looooong phone conversation (half an hour) with PayPal Thailand this is what I got out of it!!

1. If you have a personal PayPal account you will not be able to use it to receive or hold money (starting next year as published).

2. If you have a business PayPal account you will need to go through a re-verification process. You will need to supply:

a. photo ID

b. proof of business address

c. official business license /registration

If the business is registered in your spouse's name and the PayPal in yours or vice versa you can apply for a "contact name" change on the account. The names must match but according to the person I spoke with PayPal will be accommodating on this and not make you register for a new account.

(This is my viewpoint - while going through the re-verification process, best not to have much money in the account because it might be tricky to get it out if you fail the re-verification. I posed that question and she couldn't answer!)

That was the gist of our conversation and pretty much all the info. she had. 

But why would you want to ?

[cmsally]

Just now, gummy said:

But why would you want to ?

Because I can ?

Why not? etc. etc.   

[gummy]

Just now, cmsally said:

Because I can ?

Why not? etc. etc.   

Well from what you have outlined prior to my post it seems almost certain you can not. But never mind.

[cmsally]

1 minute ago, gummy said:

Well from what you have outlined prior to my post it seems almost certain you can not. But never mind.

Actually I can !!!  

[JamesE]

I understand that you "can" but I'm with @gummy on this: Why would you want to? If you need to receive money overseas - GBP, USD, whatever - then, great, use local PayPal into your home bank account. If you need to receive money in Thailand then any of the mobile banking options would be cheaper than PayPal Thailand and instantly supported by anybody's phone. If you need to move money into Thailand from wherever then just have it sent to your Wise account directly. It seems that struggling to use PayPal when there are better options is a financial square-peg, round-hole situation.