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Here’s why PayPal will be cut off in Thailand


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https://coconuts.co/bangkok/news/heres-why-paypal-will-be-cut-off-in-thailand/?mc_cid=71432556da&mc_eid=503e28128a

from the link:

In four months, PayPal will effectively be dead in Thailand for most users.

Under new terms announced last week, the company said any personal account created before March 2021 will be unable to receive payments or hold a balance after February. 

The same rules apply for all business accounts not registered via the government’s new Know Your Business, or KYB, program, a scheme intended to increase transparency in finance and combat money laundering. 

In essence, that means that one must have a KYB-registered business account in order to have a PayPal account at all. Personal PayPal accounts in Thailand will be dead as of March. 

According to a PayPal customer service rep, Thailand is the only country in Asia with a PayPal presence to enact such rules...

 

and so on...

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 It there are, some may say better, alternatives to PayPal.

Shrill, lower transaction costs 2.9% compared to 4.5%, has to be used once every 12 months unless a fee of $5 is applied

Payonear  $1.50 per transaction just do t get the prepaid card would set you back $29.95 per momth

Google Pay Send FREE can be used on Apple devices

And as the article mentions Bitcoin

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  • 3 weeks later...

Hi,

Right, but how many of those can be used to pay for stuff online?
I've been using PayPal for years for this. Linked to my credit card, I just pay with PayPal rather than having to enter my credit card details. Much easier.
Still not clear if I can continue doing this or not.

Sanuk!
 

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Most online vendors, amazon included, accept Skrill, Payonear and Google Pay.

Paypal is the most popular since it was the first, but most popular does not mean the best People, myself included, are inherently lazy, and once they use one thing tend to stick to it.

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Hi,

>Most online vendors, amazon included, accept Skrill, Payonear and Google Pay.

I have honestly never seen (or even heard of) Skrill or Payonear, but not really paid attention either.

>most popular does not mean the best People, myself included, are inherently lazy, and once they use one thing tend to stick to it.

No argument there :)

Sanuk!

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