PayPal in Thailand

[Gaybutton]

On a recent thread I posted that you can now open a PayPal account in Thailand. It is relatively easy to open the account. I opened mine using Bangkok Bank as my bank account. Part of the registration requires a credit card number. I used my Bangkok Bank debit card number and it was accepted.

 

PayPal makes a small deposit into your account. A security code is part of the deposit. I could not see the code with use of online banking, so I called Bangkok Bank and they knew exactly what I was asking for and gave me the code.

 

Now I had a confirmed account. In order to remove restrictions you need to upgrade to PayPal's Premium account. That was simple. One click of a button on the PayPal site and I was instantly upgraded.

 

If you are going to withdraw funds from your PayPal account by having them deposit your funds into your Thai bank account, they charge 50 baht if the withdrawal is less than 5000 baht. If it is greater than 5000 baht there is no charge.

 

After having done that, it was time for "proof of the pudding." PayPal's web site says it takes 5 to 7 business days for the deposit to go through to a Thai bank account. On Sunday night I transferred money from my PayPal account to my Bangkok Bank account. Today is Thursday. This morning, 9:00am I checked my account and the money I transferred had arrived.

 

So, not only does it really work, but it only took 3 business days.

 

That offers some alternatives. For example, if you have a Thai boyfriend, if he has a Thai bank account then you can have him open a PayPal account and transfer money to him via PayPal.

 

Also, if you hold a Thai bank account and wish to avoid those 150 baht ATM fees, then you can do as I did and transfer money from PayPal into your own Thai bank account, and then use your Thai ATM card when you are in Thailand. At any ATM in Thailand the fee for a withdrawal is usually 25 baht. If you are in the province where you opened your Thai bank account, then if you use your own bank's ATMs, there is no withdrawal fee at all.

 

Be advised that while PayPal issues a debit card of their own upon request, they do not issue a debit card based on a Thai bank account.

[Guest njjim]

That could prove to be really helpful. Thanks for sharing. It is bits of information like this that make these forums, in spite of all the nastiness and bickering, invaluable.

[Gaybutton]

Thanks for sharing.

That was very kind of you to say. I truly appreciate it. With all the complaints, criticism, put-downs, etc, knowing that at least some people out there benefit from the effort, that's what makes it all worth doing.

[dapitt]

I'd like to 'second' the "thanks for sharing". This is quite useful information.