PayPal no longer allows NTD wire transfers


#181

I got payoneer to work as paypal substitute. It was amazingly easy, so easy in fact that I am still trying to find the catch. There are limits of 1000 per transfer and you can only send to other payoneer members, but they send you a mastercard in the mail that is, well, a mastercard. No credit, but works how I assume the paypal card would work for withdrawals.

Once I find the big catch, I will try to post it here.


#182

can you send from your own paypal account to your own payoneer account? if so could you send money sent by clients to your paypal account to your payoneer account and use the master card to pay for stuff in taiwan?


#183

The system seems to require a smart card reader to withdraw now! as if it is not infuriating enough!


#184

Please explain, and please don’t scare me.


#185

I have a business account(login is at esb.sunbank.com.tw instead of the regular site), and when I try to withdraw, using the approved browser IE, at the last approval step it asks for some smart card reader stuff before I can post the withdrawal.

This might be a business account only thing?


#186

I see, thanks!


#187

Guys, I have my Megabank debt card associated to my Paypal account. No problems whatsoever. Well, I had to tell them to approve the small charge that Paypal makes for validating the card… and everything has been fine since then.


#188

went to the bank, confirmed that the smart card reader requirement for withdrawals is a business-account only thing. Also it’s getting phased out on the 12th! So don’t worry about it guys, if you aren’t affected yet you won’t be.

I did a test withdrawal and the fees charged to purely transfer money(no currency exchanges) using a credit card to either a US or Taiwan Paypal account are the same, around 5%. If you withdraw that money in the same currency to E.Sun there’s no further charges, but if you do a currency exchange during the withdrawal process you have another 2.5% charge, on top of the exchange rate spread I imagine.

Since E. Sun offers both US dollar and NTD accounts I imagine it would be more wise to withdraw the same currency, and then do a currency exchange at the bank, to avoid the 2.5% online fee, which I think comes from Paypal.


#189

It’s really unacceptable - and I still haven’t used it since they switched to E.Sun. Add to these expenses the possibility that E.Sun will declare your Paypal withdrawals as income to the taxman (folks, please confirm if you get a tax invoice from the bank for Paypal!) and it really isn’t worth it at all.

EDIT: Wow, reading my old posts on here I sound like a stuck record. Maybe I’m just bitter; I used to sell toys/models that I’d grown tired of on eBay and use the income to buy more toys and models, but now I’m forced to either keep the cash in the eBay/Paypal ecosystem and not buy anything in Taiwan, or eat transfer fees (plus taxes?) that make the sale not worthwhile at all. It used to be fun and a handy way to get hobby money back.


#190

Spaint, why didn’t you just add the costs to your sales prices? That’s called passing on costs… The only person who really pays in the end is the customer. But then that’s always been true.


#191

Because second-hand toys and models aren’t the kind of item that I can jack up prices on by 10, 15, 20% and still expect to have sell.


#192

So, did E-Sun give any of you guys a tax invoice for your inward Paypal remittances?

Also curious if there’s a threshold amount - by which I mean “is there an amount below which E.Sun doesn’t bother sending an invoice?”


#193

I want to set up my PayPal account to take NTD from my bank here. I have a PayPal account linked to my bank in the US and I’ve had that PayPal account for about 10 years. Would I be able to add my Taiwanese bank to that account and have two bank accounts or will I have to create a new, separate PayPal account for my bank here?


#194

You can try but I had to create a new account when I moved. Paypal doesn’t recognize that people can move across borders and still retain their own identity, bank account, etc.


#195

You can have two paypal accounts, a personal and a business one… I’d be loathe , if I were you, to give up the US one… esp. since you have a long history there. The local accounts can be tied to a US bank account, I think.


#196

You can try but I had to create a new account when I moved. Paypal doesn’t recognize that people can move across borders and still retain their own identity, bank account, etc.[/quote]

That was the impression that I got when I tried to change my information. It seems that it will be impossible to change to anything that is outside of the US, my country of origin and where I first established my account.


#197

Sorry for a posting a different topic here. I was wondering if anyone on this forum is using Skrill and has a Skrill card. Please pm me, I have some funds in my Skrill account that I want to withdraw out urgently and was hoping to work out an arrangement by meeting up and paying anyone who can help a fee.


#198

Once i did deposit, like 6k usd from skrill to local bank (china trust) in taiwan (both on my name), did not have any troubles. Cash came in like 3 days.
Just make sure you deposit usd to usd account or euro to euro, to avoid currency fee.


#199

I wonder how banks consider these transactions, 6K USD is quite a big amount and Skrill is very sports betting related, betting is illegal in Taiwan that’s why I never took the risk to have a Skrill or Neteller account registered here.


#200

Thing is skrill, used to be like waaaay cheaper then paypal. But they raised up currency fee as well. So my credit card stop working for unknown reason, and suddenly skrill card was charging me 1k on 20k twd. Said enough, will transfer directly to local bank

But yea, do not do it regulary. Actually bank called me, asking about transaction, i said money is for my parents in law. And lady was ok, thank you. Respect for parents goes long way in taiwan, and i wanted she knows she will have to deal with locals, when refused money.

And yea better you have skrill registered on non taiwan adress