Thailand and PayPal ????

[hlo35]

Can someone please let me know if it will still be possible to receive money for a particular to a Thai account ? Thxs

[kernowlass]

@hlo35 

Think you have to have a business account in Thailand to receive funds.

https://www.paypal.com/th/smarthelp/article/%E0%B8%88%E0%B8%B0%E0%B8%A3%E0%B8%B1%E0%B8%9A%E0%B8%81%E...

[ThailandAmulets]

NO you can not! PPTH has joined the 3rd Reich of Thailand  Racist Junta to stop individual merchants (in USA once called the premium or individual merchant account, which ALL Paypal countries have EXCEPT fascist Thailand). I have been selling 10-30,000$ a month with Paypal TH since about 2010 or so, and now, they gave a deadline of Febrary 22 to submit company papers or have account restricted to not be able to make payments, receive, or otherwise.. only add funds from bank but not withdraw. If PayPal thinks we freelancers and digital nomads will use the account just to buy stuff but cannot receive or sell, well.. dream, on Paypal, i moved to Wise already haha, thanks for giving me the push to discover a better payment gateway that does not prevent me receiving payments in Thailand, so the Gov ain't preventing anything, they are just killing Paypal but not other gateways which are popping up to take Paypal TH's place.

Online sellers seek Thai govt help after PayPal cancels transactions

BANGKOK (The Nation/Asia News Network): The Creative Workers Union Thailand (CUT) submitted a letter to the House of Representatives’ Labour Committee earlier this week, complaining that the recent policy change by popular online payment service PayPal Thailand has affected freelance online sellers of goods and services.

PayPal announced last Saturday that as of March 7 consumers in Thailand would no longer be able to use their PayPal wallets to shop online or make and receive payments. They would, however, be able to transfer any balance in their PayPal wallet to their bank account.

Meanwhile, new account registration for consumers will not be available until further notice.

PayPal also said that from March 7, existing PayPal accounts registered by freelancers, casual sellers and entrepreneurs/sole proprietors in Thailand would have limited functionality, except to make bank withdrawals. New account registration for freelancers or casual sellers will not be available until further notice.

The company added that it has been gradually updating its services and processes to ensure they comply with all applicable Thai laws, and that it has been working closely with relevant authorities to accelerate its relaunch and minimise disruption to customers.

In its letter, CUT said the new policy lacks clear details as to how freelancers and casual sellers can continue using the PayPal service, other than register themselves as a business, which is a lengthy process and will incur an additional fee.

CUT therefore asked the committee to urge PayPal Thailand to clarify the policy for freelancers and causal sellers before the March 7 deadline, or at least extend the deadline until a more suitable policy is issued.

The union also asked the committee to coordinate with the Commerce Ministry and relevant agencies in considering adjusting the business registration process so that freelancers can register as a commercial business more easily.

Meanwhile, more than 2,500 people have signed a petition on Change.org urging PayPal Thailand to come up with a policy specifically tailored for freelancers and casual sellers before March 7.

The campaign page said that sellers on some websites, such as Etsy are severely affected as the websites list PayPal as the only acceptable payment method.

Arunee Numkate, a 37-year-old online seller of baby clothes, said she had been using PayPal as a payment method for foreign customers for about eight years now, and that she has 30,000 to 80,000 baht per month of transactions via PayPal.

“After PayPal announced that freelancer accounts would not be able to receive payments after March 7, I tried to register my business as a juristic person with the Commerce Ministry so I could re-register with PayPal as a business,” she said.

“However, the business registration process is taking too long and probably won’t finish in time for the March 7 deadline, which means I will lose a lot of business due to this disruption.”

Arunee urged the Finance Ministry and the Bank of Thailand to coordinate with PayPal to reconsider the limitation on freelance accounts, adding that thousands of freelance online sellers are suffering from the same problem.

It is speculated that PayPal is apparently mired in the confusion sparked by Thailand’s move to overhaul its regulatory framework to accelerate financial technology and become a digital economy.

In other words, to operate here, PayPal must adhere to Thai laws, especially its anti-money laundering and tax legislation.

https://www.thestar.com.my/aseanplus/aseanplus-news/2022/02/10/online-sellers-seek-thai-govt-help-af...

Thai people are talking bout boycotting it too and merchants are at boiling point

https://www.youtube.com/watch?v=DwwNEhxLxVs

https://www.youtube.com/watch?v=qiJyJ3Z9lVc

Use  https://wise.com 

its better, safer, cheaper, and faster. And, it circumvents the Thailand withdrawal and sell internationally problem for individual merchants in Thailand

https://www.youtube.com/watch?v=j0pCap0hmjU

1. This is of course now all over the Internet as 20 million merchants in Thailand (80% minim um individuals not companies, who will NEVER comply with that demand, as we re individuals who can operate our online shops alone and do not need 6 employees and pay 6 imaginary wages for 6 imaginary partners, and as a foreigner, have to give 51% of our own company away to some greedy Thai who lets you use his name but does not put up 51 % of the money.. just prays you the foreign partner die, or he buys you out by majority vote if your business succeeds - ALL Thai foreign companies are one foreigner with 5 or 6 imaginary employees you have to pay tax and insurances on - if Paypal think they will survive this, they are very mistaken, and i think they realize this because they just belated the warning deadline to 7th March to talk with the government)

2, Criminals and Fraudster customers ADN merchants are planning to do credit card chargebacks on many large purchases made from Thai Paypal m,erchants who Paypal will delete their accounts after the 7th March, hence laving PayPal with thousands of 10,000$ credit card chargebacks around the world and they wont be able to freeze the oney in the merchant's account, as the merchant will have disconnected his bank and PayPal deleted the account.. hence Paypal is about to suffer millions of credit card chargebacks on money we the merchants have already cashed and withdrawn before deadline, as well as many merchants will be not sending goods they received money for and withdrew before PayPal deletes their account.

This will make PayPal vulnerable to chargeback frauds, and make the PayPal customers of other countries lose their money on orders paid but not sent by merchant, because PayPal opened a way for them to take the money and run and delete account (rug pulling as they call it in crypto world)

I myself am an honest trader and would not do such a thing, but my customers, some of them, perhaps 10,000$ a year, do steal with CC Chargebacks, and since these fraudsters know of the 'easy stealing with PayPal' darkweb tutorial website, and it is already being talked about there ,and on Reddit, it seems the criminals are already poised, and waiting to implement this grand opening of a megatunnel of chargeback frauds, to keep the goods and the money, and the merchant loses nothing. This is possible ecause they chargeback AFTER the merchant's account deletion, leaving PayPal with the debit!

Serves you right PayPal i have already changed to WISE.COM payments and western union online and direct bank transfer and Line Pay, so it is Paypal who lose commissions on my 20-30,000$ a month, and Wise and Western Union and Crypto.Com who get it instead. 

Paypal as tyhey say [removed]. But this time they have made a real mistake, and an immensely self destructive Bad PR decision. They do not understand the nature or the mindset of Thai online individual merchants, and they do not understand that this move they have made, does not prevent money laidnering (they re fforced by the new Thai Anti Money laundering laundering law, which does not prevent money laindering anyway, because 

1. if I walk into a Thai bank and deposit 2 million dollars, no questions asked

2. If i want to send some of it to Singapore, they require me to submit the invoice ffrom the receiver to prove what it is.

It is an 'ANTI SEND MONEY OUT OF THAILAND' ponzy scheme, because they do not care about where your money ame from when it comes in, they only want to tax you on it, even if it is not taxable because it is from your mum, not a customer

If you submit company papers to paypal to keep the merchant account which will raise your monthly costs of running a real company and 5 imaginary partners, up to 5000$ a month from  your original cost of Zero with you as a sole individual merchant.. But Paypal ALSO INFORM THE GOVERNMENT OF EVERY PENNY, INCLUDING THE BIRTHDAY MONEY FROM MUM to the Thai Taxman, and you get 15% deduycted of all received funds, then 3.9% deduction Paypal fee, and if it is dollars change to Thai Baht, Paypal take a further 1 Baht a Dollar on exchange rates.. i exchange 10-30,000 a month withdrawing to Thai bank from paypa. That is lets say 300,000 Thgai Baht. If i stayed with Paypal, this would have the 3.9 Percent Paypal fee deducted = 288300, and then 15% dedicted = 245055 left from the original 300,000, plus the one baht per dollar = 235055 Baht left from 300,000 = 64945 Baht (3.5000$ a mmonth) in tax and commission fees deducted. Then you have rent on a company premises to submit proof to paypal maybe a good 300$ extra a month, 100$ lawyer fee to register company, and about 300$ a month insurance and tax on the wages of your imaginary partners and shareholders (Make a Thai company theu always make imaginary parytners and its a lie anyway., government knows, its not about honesty or laindering, its about the Thai corrupt government stealing everyone's money)

The recent Guardian expose and netflix documentary 'the Pandora Papers exposes who are really the money launderers, and they are precisely the same people imposing these supposed 'anti money laindering' rules on us the middle class and working class, who are the only ones who cannot evade taxes, wherreas the4 elite do, as do Paypal using our online credit from all of us to get interest in their Cayman Island bank and Applebys of Bermuda.. THEY ARE THE LAUNDERS, and blatantly claim all t6his strict draconian rule making is to stop money laindering? It is to relocate global wealth to the elite, and take the power from sovereign individuals like ourselves who make money online as digital nomads and freelancers and individual online entrepreneurs (Individual merchants ffor gosh sake! every other Paypal country does not come up with this [removed]

Any excuses they give is [removed]

But the good thing is, since i informed my customers about this, and that WISE payments are cheaper and no exhcange rate ripoffs, and withdraw to bank in minutes not a week, has left me selling as well as before, and with less draconian measures. Thailand cannot stop Wise, the genius new payment gateway from two Latvians who saw Paypal give them a marketplace..

Bye Bye to Paypal Thailand. It has ABOSLUTELY NO CHANCE OF SURVIVING

proof;

PayPal has confirmed its services in Thailand will be suspended from March 7 as it reviews its agreements in order to comply with Thai regulations. Speaking to the Bangkok Post, a spokesperson said consumers, sole proprietors, and freelancers will be affected by the move for a time.

“We have already opened account registration for registered businesses and continue the process of transferring existing registered business customers to PayPal Thailand. Regrettably, we need more time to prepare our services for consumers, sole proprietors, and freelancers or casual sellers, in order to comply with all applicable Thai laws.” 

According to the Bangkok Post report, people who normally use their PayPal wallet to shop online will no longer be able to do so. Consumers can withdraw their balance from their PayPal wallet to their bank account and will still be able to pay for goods or services using the Guest Checkout feature and a debit or credit card.

From March 7, accounts that are registered to casual sellers or freelancers, as well as small businesses in Thailand, will only be able to make bank withdrawals. With the exception of registered businesses, people will be unable to register for a new PayPal account until further notice.

Meanwhile, business account holders will be required to accept new PayPal Thailand agreements and verify their identity by February 18. Failure to do so will mean their accounts will have limited functionality from March 7 and they will be unable to send funds or make and receive payments through PayPal.

Monsinee Nakapanant from Ascend Money, operators of TrueMoney Wallet, says the PayPal suspension will primarily affect online sellers, freelancers, and consumers, in particular those who conduct financial transactions with Western markets. However, Thai consumers still have other options available to them, such as the TrueMoney Wecard, which they can use without debit or credit cards to pay international providers.

There is also an opportunity for Thai mobile operators to step in and offer their services to Thai businesses and freelancers who need to receive international payments.

https://thethaiger.com/news/national/paypal-suspension-to-affect-small-businesses-consumers-freelanc...

Global online payment PayPal is scheduled to suspend most services for consumers, freelancers and sole proprietors in Thailand from March 7 as it is seeking ways to comply with Thai regulations.

Meanwhile, industry pundits believe the move would make PayPal potentially lose customers and allow other competitors to step in amid strong competition in the segment.

"We have already opened account registration for registered businesses and continue the process of transferring existing registered business customers to PayPal Thailand," a PayPal spokesperson told the Bangkok Post.

"Regrettably, we need more time to prepare our services for consumers, sole proprietors, and freelancers or casual sellers, in order to comply with all applicable Thai laws."

From March 7, consumers in Thailand with an existing PayPal account will no longer be able to use their PayPal wallet to shop online until further notice, according to PayPal's website. They will be able to withdraw any balance in their PayPal wallet to their bank account.

Consumers will still be able to make payments using a debit or credit card to merchants that offer the Guest Checkout function, it said.

The firm also indicated from March 7, existing PayPal accounts registered to freelancers or casual sellers as well as sole proprietors in Thailand will have limited functionality, except to make bank withdrawals.

New account registration for consumers, freelancers and sole proprietors will not be available until further notice.

https://www.bangkokpost.com/business/2260371/paypal-suspension-to-hit-thais-amid-tough-market

[hlo35]

Thanks for your answers. I'm just astonished by that decision. Somehow I read that was because there are too much frauds from Thailand. Why not fixing the problem rather than hiding it like that ?! I laugh as well thinking they would just expect us to spend money while they now it's just good to receive the salary and to get transfer.

[ThailandAmulets]

There are a lot of frauds in Thailand, mainly in Line App and your sim card, with call centers. But nothing to do with Paypal, which is why this new rule making has nothing to do with anti fraud, it has to do with peeling everybody of funds, as governments go bust, and need funds to pay police and soldiers, for the people outnumber the powerful and they fear us, especially here in Thailand where Bangkok has been on fire every day, but the newest news about that on www is 4 months old.. tjhey are still rioting and burning the city every day to this day.. it is covered up.. As to frauds in Paypal; Credit Card chargeback frauds are rife when we sell to USA mostly, Americans constitute 90% of all credit card chargebacks i ever had, and i sell to 140 countries. So it is not the Inland customers who are dirty scammers, it is usually Americans, who in my business, seem to be the lowest spending, most prone to fraudulent chargeback activity, and also the most problematic when offering support communications. So if we are to talk about fraudulent, i believe America to be much more fraudulent than Thailand. In Thailand i leave a 300$ crash helmet on my bike in town all day and it has never been stolen. Supermarkets don't have shoplifters or mirrors to see them with, because Thai people do not shoplift. 

Do not believe Thai Gov or Paypal, as they are both part of the elite (their shareholders and executives) and are all within the matrix of offshore banking and true mega money laundering as exposed in the Pandora Papers;

The largest investigation in journalism history, which exposes a shadow financial system that benefits the world’s most rich and powerful;

https://www.icij.org/investigations/pandora-papers/

Video

https://www.youtube.com/watch?v=dHAtIFyDB8k