49 Comments on “The Ultimate Paypal Hong Kong Guide (Get Verified, Stay Safe)”

  1. Cherry Lam

    You may contact a Business Consultant in Paypal HK. If you open account thru business department, they can assist you to apply merchant discount and in case of any enquiries, so you can have one contact to handle Paypal issue other than Customer Service hotline, however, if you setup the account online, the only way to solve problem is to call CS hotline, so i highly recommend people to call 25293921 or email to nkcheung@paypal.com before setting up a paypal account.

    1. Michael Michelini

      very cool tip – thanks for that Cherry! 🙂 Having a contact inside Paypal is very helpful – as many people are always so nervous if their account gets locked or frozen and don’t know what phone number to call for Paypal customer service!

      Much appreciated and enjoy your day!

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  3. simon

    Is multi-currency banking not an option? What about migrating a Paypal account to HK?

    1. Michael Michelini

      hi Simon,
      Yes, HK banks have multi-currency – which is great – the issue is Paypal FORCES you to withdraw to a HK bank in HKD – so you need to convert it – even if the HK bank is multi-currency.

      If you find out otherwise – please let me know. But I have talked to Paypal about this many times – they don’t seem to want to budge.

      1. simon

        Sorry you mentioned this in your article. You’re right. That’s annoying as I’d be exchanging twice which seems like such a waste of money

          1. daniel

            anyone overcome this crazy ‘conversion’ rates?
            force you to pay out in HKD and then convert back to USD or NZD etc.

  4. simon

    Just read that you can open a business multi-currency bank account at HSBC HK.

    From their website:

    With one single account number, HSBC Business Direct combines a range of deposit and investment1 accounts so that you can effectively manage your company’s finances:

    Hong Kong Dollar Savings
    Hong Kong Dollar Current
    Foreign currency savings available in 11 currencies – including Renminbi (RMB), US dollar (USD), Euro (EUR), pound sterling (GBP), Australian dollar (AUD), New Zealand dollar (NZD), Japanese yen (JPY), Canadian dollar (CAD), Singapore dollar (SGD), Swiss franc (CHF) and Thai baht (THB)

    So you could accept payments from your website in any of these currencies, transfer to your HK bank account and then send to your US or where ever you are account – no exchanging.

  5. Jan St

    The level of verification you get through this process, is it ok to handle roughly 5 to 10k per month on it?

    Thanks, great guide.

    1. Michael Michelini

      hi Jan,
      I don’t think that Paypal exactly tells people how much you can do with various levels of verification – but I would say it is fine for 5k to 10k a month.

  6. VS

    Hi Michael!

    Thanks for great article!

    Could you please advice can I accept PayPal/bank card payments from my B2B customers (worldwide) if:
    – my business incorporated in Hong Kong, but
    – business bank account opened in Switzerland bank ?

    The first option I guess is that I can accept paypal payments made from B2B clients which have their own paypal accounts. It that case I will have to use “Paypal As Your ‘Main Bank’ For Hong Kong” scheme described by you in the article.
    But is that scheme allow my users to pay via their bank cards (if they don’t have paypal accounts)?

    1. Michael Michelini

      Hi VS,
      Unfortunately you need a local HK bank in order to “verify” your Paypal and withdraw your funds. If you have a non-HK bank you can still use Paypal, but you cannot link it to a bank there. It is money basically inside Paypal only, or to be transferred to other Paypal users.

      1. Vasilii

        Dear Michael, thanks for the prompt reply!

        Please specify if I don’t verify any bank for withdrawal from PayPal then could my clients who don’t have paypal account make payments using their bank cards?

  7. Gun Hudson

    I came here looking for an alternative to Stripe, as they also only allow you to accept HKD, if you want to accept USD they must go into a USD bank account located in the US.

    So my question is:

    1. Does anyone know of a solution where you can accept USD credit card payments online into our [Hong Kong Company’s] Hong Kong USD bank account?


    2. Can our Hong Kong Company register a bank account in the United States, is this a feasible option to get around this problem?

    1. anthony

      I would also be very interested in the answer to this question. If Paypal insists on banking HKD only, why not simply m=have a merchant account that feeds into my HK account in the currency in which it is received?

  8. Audrey

    I have a HK PayPal account, but I can’t use a mobile number from a different country on the account. PayPal automatically puts in the HK country code before a mobile number. Does anyone have any good solutions? Thanks in advance.

    1. Michael Michelini

      Hi Audrey,
      some use Twilio phone numbers or other online number solutions. Not sure if Skype in has text message capabilities? I have a HK mobile phone plan that I use traveling abroad, may be worth the investment?

      1. Audrey

        Thank you so much Michael, that helps. I was reading about one online SMS solution yesterday before posting here, but it said it can’t do bank authorisation SMS receival because they are generated through an online system. They can only receive SMS’s from an actual mobile. I will look into Twilio though as it wasn’t the one I was looking at. Your last solution is a possibility if nothing else works. Thanks for your fast response. I’m still interested in hearing about any solutions people are using.

  9. Chaze

    I have been very successful for a few years now using my Paypal HK Account with zero interruptions, until now. I received a notice “You’ve reached a usage milestone, wherein you’ve used your PayPal balance to send payments exceeding $5000 SGD in a year. In compliance with regulatory requirements in your country, we need to confirm your identity as the account owner. To prevent any account limitations, please confirm your identity at dashboard.

    The form requires me to have me to identify my address as well an Id card with signature. how can I get around this. so my account does not interrupted ???????

    1. Michael Michelini

      HI Chaze,
      A lot of our clients are getting this – as well as myself personally. Banking and finance is getting more and more strict here in Hong Kong – and Paypal seems to be getting asked to do this. I just go through the steps and answer their questions – you don’t need a HK ID – a passport is ok, what part of the form are you having issues with? Its painful I know..

  10. Chaze

    The main issue is proof of address and phone numbers. this is the last part that is needed. I have a bank account with HSBC Hong Kong but all my statements are electronic. any suggestions would be appreciated.

    By the way thanks for the Blog it makes me feel not alone.

    1. Michael Michelini

      my pleasure! yes – you’re not alone, tons of people are getting the same thing right now. Your HSBC e-statement should enough. For a phone number, try a Skype IN number for like 25 usd every 3 months and it can forward. keep us posted.

  11. Roger

    Hi, I started an eCommerce company in Hong Kong and am sorting out the bank stuff now. I’m not a resident there though. Will I be able to get a merchant account there even as a non resident? Your article here seems to say you don’t need to be, but that clashes with what I have read other place.

    1. Michael Michelini

      Hey Roger,
      They always wanted residential address proof in HK but lately have been more strict about it. The past year and change has been a lot of challenges for all of us. People need to have some local HK connections nowadays to best do it.

  12. Enoch

    As I reside in Hong Kong and have currently been doing some business on Ebay, I usually receive my payments through USD. Knowing this, my paypal currency will be in USD. However as you mentioned, if I were to withdraw my credit from paypal to my HSBC account with foreign currency active, is there anyway i can directly just withdraw the USD instead of converting into HKD? Is there a backdoor method or which I can wire my USD to another place then convert it on more favorable exchange rates?

    Many Thanks

  13. James

    PayPal is a nightmare, my best advise is to stay away from it.

    Unless you like having your money arbitrarily frozen periodically.

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      1. mark

        Hi. I have a Hong Kong company but currently living in Ukraine. How can i contact you? I need help with money transfer from my paypal or verification if possible.

  16. Jessica

    Hi! Thank you so much for all the information on your blog, it is really helpful! I’m in a bit of a pickle with my PayPal HK account, and I wonder if you’d have a solution for me:

    – My company is incorporated in HK (Limited) with a registered business address in HK
    – I don’t like or conduct business in HK, I’m in Vietnam
    – I haven’t been able to successfully open an bank account in HK and so far have used my PayPal balance without having it linked to any bank account. Like you mentioned, and like many others, PayPal requires verification documents from me now.

    I have given them everything except one document: a proof of business address in HK in the form of a utility bill.
    How can I get that knowing that I don’t have a “real” office in HK ? (as we were incorporated and pay for a secretary with startitup in hk).It’s not like I pay electricity monthly for a virtual office… All ideas and suggestions are welcome!

    Thanks! Peace and light!

  17. Agendra

    Hi! I am completely new to PayPal. I am temping for a company based in UK for an ad-hoc job. They have given me the option to transfer payment using PayPal. I have a HANG SENG BANK account. How easy it is to withdraw funds transferred into PayPal? What information do I need to link my HANG SENG BANK account to PAYPAL? Thanks in advance.

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  19. Naila

    Hi Mike, this was really helpfull for me to register my paypal account and adding my bank account but, i have a question how much does it cost to top up money from hsbc to paypal ? Is it free or there is a fee any idea?

  20. John

    Hi Mike,

    I use Transferwise to get US dollars out of PayPal and exchanged to Candian dollars. Is it possible to do that with a Hong Kong PayPal account?

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  22. Maria

    Hello, thank you very much for sharing the post, it helps us a lot.
    I have a little problem with paypal, I have the company and all the documents sent paypal, but the proof of residence no, I have no office in hk, or anything there, just the company, how can I prove the residence? I hope you can help me, thank you very much in advance

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