Paypal connected to your Thai account?, Success stories?

salesguy · Rookie Joined: 02 Feb 2008 Posts: 19

I do not sell on Ebay but I do sell a product/service using PayPal. PP is linked to my Canadian account which makes me lose in the exchange rates twice by converting USD to CDN to TBH not to mention PP's fees.

Has anyone successfully linked any of the payment gateways to a Thai account? Any transaction fees? How long was the withdrawal delay? Thank you.

buksida · Posted: Mon Feb 04, 2008 9:48 am Post subject:

I haven't tried again for a while but when I did Paypal simply would not work with Thailand or Thai banks, it wasn't on their list of "approved countries".

Things may have changed now though ... I gave up on it!
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DawnHRD · Posted: Mon Feb 04, 2008 2:34 pm Post subject:

You can now, but if you don't have a credit card, they won't let you withdraw & they'll only let you transfer $100 US max per month. A little something they don't tell you when you join up... Rolling Eyes

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webmaster · Posted: Mon Feb 04, 2008 6:43 pm Post subject:

I have been using this method successfully for the last 3 years for my own company and my customers in Thailand.

It works fine with Kasikorn bank. thumbs up

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salesguy · Rookie Joined: 02 Feb 2008 Posts: 19

DawnHRD · Posted: Tue Feb 05, 2008 3:22 pm Post subject:

Just to clarify what I meant:

If you don't give them a credit card number, you don't get through to their higher level of service.
Without this higher level of service, you cannot withdraw money & put it into your Thai bank. You can transfer money to other people's paypal accounts, but only up to a max of $100US per month.

OK, can anyone else confirm that for OP, please? Smile

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"The question is not, can they reason? Nor, can they talk? But, can they suffer?" - Jeremy Bentham, philosopher, 1748-1832

Make a dog's life better, today! Find out how - go to www.headrockdogs.org

salesguy · Rookie Joined: 02 Feb 2008 Posts: 19

Thank you for all your replies. KK bank issues a debit card with each account that has all the markings of a credit card. Would this be sufficient? I ask because I have no credit card and don't want to be limited with my Thai account in anyway. Thank you.

webmaster · Posted: Tue Feb 05, 2008 4:26 pm Post subject:

The Kasikorn Bank has an online debit card called WebCard, similar to Visa Credit Card with the 16 digit code, Expiry date as well as the CCV2.

You can apply to this card while you open the account or after, by using their online banking system.

After getting your WebCard details, you can use it on any onlne/website to make a purchase, as long as your current account has enough funds. The spending limit is 100,000 per month for online usage.

PayPal 100$ limit is only a security measure and you can easily overcome this by verifiying your fund's source and your ownership. There are several methods to this but the easiest way is the email option. After the verification process, the limit to withdraw your funds from PayPal becomes 5,000 USD, which is an Internet Standard for individuals using a payment gateway to withdraw funds.

I hope this information helps.
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salesguy · Rookie Joined: 02 Feb 2008 Posts: 19

Webby,

I am extremely excited from reading your post (dull life I have...but thanks!). So I can walk into the KK branch and apply for this WebCard? I don't know how to login to my online account.

I have a strong regular income to my KK account but a poor credit history. I assume you're not a Thai banker but do you think I am eligible?

I am just so surprised if this could can be done because I know I'm losing a lot in the currency exchange rates from USD to CDN to TBH.

THANK YOU!

webmaster · Posted: Tue Feb 05, 2008 5:40 pm Post subject:

Nothing to do being foreigner or Thai, as long as you have an account in Kasikorn you are eligible.

Since it's not a credit card - only an online payment/debit card - it doesn't matter how active or big your account is either.

You can even overcome the 5,000 USD monthly withdrawals from PayPal by opening a corporate account but that requires some paper work and you have to be a company in Thailand.

You will still loose money on the exchange conversions but I don't think it will be as much.

To top all of this, if you withdraw more than 5,000 THB there are no transfer charges in PayPal. You only pay 50THB for 4,999 or less withdrawals. thumbs up

I have a few customers in Thailand that I have created the sites and helped them to get this system working (Ecommerce websites) and getting paid via PayPal.
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buksida · Posted: Tue Feb 05, 2008 5:57 pm Post subject:

Thats good news for me too then, already have the Webby card from Kasikorn so I can give Paypal another try!
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webmaster · Posted: Tue Feb 05, 2008 6:00 pm Post subject:

Oops sorry Buksi, I thought you had already done that after I mentioned a few months ago. Embarassed

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Takiap · Specialist Joined: 09 Apr 2006 Posts: 156 Location: Bo Fai

You need to verify your PayPal account. This is done by requesting it via your PayPal account. I can't remember exactly if they credit or debit your Thai bank account but you need to confirm the amount. My wife got hers are verified and uses it all the time. She has no credit card and used only her Bangkok Bank visa electron card.
She now has no withdrawal limit with PayPal apart from having to pay a few baht if she withdraws less than 5000,00

Hope this helps and trust me, its 100% accurate information.
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