I have read a number of posts here about using Paypal to transfer $$ from TW to other countries. I read their webpage and have two questions I would like answered before I register. Which kind of Paypal account do I need? There are customer, small business and large business accounts. Also, can I add $US to my TW Paypal account? One of the concerns that I have heard mentioned about using PP to transfer money is about the exchange rate. Can I just deposit $US or RMB into my PP account so that it is not an issue?
for US/EU/whatever accounts they allow you to “add funds” from your bank account into your paypal balance but Taiwan doesn’t seem to allow that.
You just send whatever money into your paypal account and they automatically convert to the correct currency. You probably need a premier account because the free account that doesn’t deduct from your incoming payment only allows you to receive something like $50 US a month. The premier account takes away something like 3% of your incoming payment though.
PayPal = legal theft under a hidden “international service” button. If 3% would be the only disadvantage but indeed, Fx rates are below market value.
If you don’t really need it, look at alternatives as Western Union to receive cash from abroad.
[quote=“ceevee369”]PayPal = legal theft under a hidden “international service” button. If 3% would be the only disadvantage but indeed, Fx rates are below market value.
If you don’t really need it, look at alternatives as Western Union to receive cash from abroad.[/quote]
Paypal (and other services like it) is probably the only way an individual can use a credit card to pay for auctions, or to receive credit card payments from auctions. It may be pricey but all services have fees. Its either that or get a merchant account for credit cards.
It’s not the best way to receive large payments though, anything more than $1000 US and I would prefer a wire transfer.