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[Important]My Paypal and receiving payment restriction
4 years ago
Yesterday, if you're a watcher/followers of Thai artist. You may notice a chaos happening about upcoming change to Paypal Thailand account.
For overall timeline
- Start from Thai people can't register new Paypal account for almost a whole year ago.
- Waiting for relaunch. no clue until last September. A first sign of opening has come. Paypal allow new "Business Account" which require company ID to open.
- Individual people wait for personal account type to open, as they can't create there own account/has no document to sent to Paypal.
- 2 days ago at night. Paypal announce about relaunching plan at last along with a page of FAQ here
The change will likely apply as soon as February 18, 2022
The most messed up conclusion is at topic 11.
Problem turn out very severe for almost everyone who need use of Personal Account type. As 2 of important feature will be eliminated;
- Paypal Balance
- Bank withdrawals
Most likely for now, this means Personal account can't accept money from foreigner at all. Which lead to my inability to accept commission price via Paypal. And this confirmed to be a restrict to Thailand account only
People in main freelancer community are trying hard to figured about alternative way to accept money since the news broke free, but no way is easy for now. As following.
- Payoneer seem to be fine with Patreon Content Creator but has no guaranteed if problem might occurs later. Can't accept payment directly using Paypal. They aren't linked together.
- Wise is a way I try. But the feature to accept Paypal payment need to register as business type account. Unknown about there fee per transaction yet. As my comm price range is cheap.
- Stripe is unavailable here. The website need specific data of residence in country they register, which not available for Thai yet. But if available, Commiss.io can use as a place to make commission order.
- Cryptocurrency is one complicated choice. To be accept by stablecoin or coin of choice is fine. I can convert them into fiat later but problem persist to sender anyways as they need crypto trading account.
Progress at the moment
- Best choice I can find for now is accept payment between Wise account.
You need Wise account to send money to me and also with restriction; You need to use your primary currency to pay. (Such as Canada as CAD, Europe country as Euro) and also has possible transfer delay.
If testing result from main community confirm that Paypal payment and fee to Wise is acceptable, I'll consider pay for opening business account which cost me 21GBP(around 30$)
*Edit+ (10th Nov)
Result they'll be 7.5$ "Wire Transfer fee" per transaction if it accept money from other country than US.
Result if I ask you 10$ comm price, you need to pay 17.5$ instead, which become instantly bad choice.
- Crypto is another choice in case you're into it. idk how fast about stablecoin transfer between wallet but Dogecoin need about half hour to sent. Not counting trading fee and volatility of price.
- Wait and hope Stripe to be open for Thailand, and got not much restriction as Paypal.
In conclusion, both way I can find for now need your attention to create your own new account and understanding. They also require your identity data (Picture of your ID card and Selfie) and not as easy as using Paypal.
I'll return to update later if the * PayPal Thailand account capabilities are subject to change mentioned in FAQ will occurs or not. And what will actually happens after relaunch.
As for now, I'll got several months of peaceful payment remaining. Plan to open for commission batch soon this month after I finish with Symbiotober.
Thanks for concern.
For overall timeline
- Start from Thai people can't register new Paypal account for almost a whole year ago.
- Waiting for relaunch. no clue until last September. A first sign of opening has come. Paypal allow new "Business Account" which require company ID to open.
- Individual people wait for personal account type to open, as they can't create there own account/has no document to sent to Paypal.
- 2 days ago at night. Paypal announce about relaunching plan at last along with a page of FAQ here
The change will likely apply as soon as February 18, 2022
The most messed up conclusion is at topic 11.
Problem turn out very severe for almost everyone who need use of Personal Account type. As 2 of important feature will be eliminated;
- Paypal Balance
- Bank withdrawals
Most likely for now, this means Personal account can't accept money from foreigner at all. Which lead to my inability to accept commission price via Paypal. And this confirmed to be a restrict to Thailand account only
People in main freelancer community are trying hard to figured about alternative way to accept money since the news broke free, but no way is easy for now. As following.
- Payoneer seem to be fine with Patreon Content Creator but has no guaranteed if problem might occurs later. Can't accept payment directly using Paypal. They aren't linked together.
- Wise is a way I try. But the feature to accept Paypal payment need to register as business type account. Unknown about there fee per transaction yet. As my comm price range is cheap.
- Stripe is unavailable here. The website need specific data of residence in country they register, which not available for Thai yet. But if available, Commiss.io can use as a place to make commission order.
- Cryptocurrency is one complicated choice. To be accept by stablecoin or coin of choice is fine. I can convert them into fiat later but problem persist to sender anyways as they need crypto trading account.
Progress at the moment
- Best choice I can find for now is accept payment between Wise account.
You need Wise account to send money to me and also with restriction; You need to use your primary currency to pay. (Such as Canada as CAD, Europe country as Euro) and also has possible transfer delay.
If testing result from main community confirm that Paypal payment and fee to Wise is acceptable, I'll consider pay for opening business account which cost me 21GBP(around 30$)
*Edit+ (10th Nov)
Result they'll be 7.5$ "Wire Transfer fee" per transaction if it accept money from other country than US.
Result if I ask you 10$ comm price, you need to pay 17.5$ instead, which become instantly bad choice.
- Crypto is another choice in case you're into it. idk how fast about stablecoin transfer between wallet but Dogecoin need about half hour to sent. Not counting trading fee and volatility of price.
- Wait and hope Stripe to be open for Thailand, and got not much restriction as Paypal.
In conclusion, both way I can find for now need your attention to create your own new account and understanding. They also require your identity data (Picture of your ID card and Selfie) and not as easy as using Paypal.
I'll return to update later if the * PayPal Thailand account capabilities are subject to change mentioned in FAQ will occurs or not. And what will actually happens after relaunch.
As for now, I'll got several months of peaceful payment remaining. Plan to open for commission batch soon this month after I finish with Symbiotober.
Thanks for concern.
Btw, yesterday I come up with keyword so I go search Google. "paypal not allow to hold balance"
Result it's a thing happens at US(Very origin of Paypal) and they state the money receiving is possible and going to went directly to your bank account only.
Due to alternative way aren't working at all for small transaction. My only choice now is wait and see how the full details of user agreement will apply.