Bank charges on transfers from PayPal and Stripe

  1. #1

    Join Date
    Feb 2017
    Posts
    9

    Bank charges on transfers from PayPal and Stripe

    I am about to open my online store business and customers will make international currency payments. When payments are processed by Stripe or PayPal HSBC in HK will receive the funds but still they will charge me $65 for each transaction! DLLM.

    Is there a way I can receive my payments online into an investment fund or something not into bank account?


  2. #2

    Join Date
    Feb 2015
    Location
    Hong-Kong
    Posts
    3,512
    Quote Originally Posted by Whatever HK
    Is there a way I can receive my payments online into an investment fund or something not into bank account?
    Is your HSBC Hong-Kong account a personal account or a business account ?

  3. #3

    Join Date
    Sep 2012
    Location
    Hong Kong
    Posts
    420

    Will PayPal charge you $65 per payment into their system or per payment out of PayPal? If latter, you can accumulate cash and withdraw once a month or something.

    Check out also WorldPay to see if it's a better deal...


  4. #4

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    18,425

    Not a single cent in fees from HSBC for PayPal, stripe or WorldPay on our account. Been using PayPal and WorldPay for over 10 years and Stripe for well over a year.

    Have a GeoExpat related problem - please create a support ticket.

  5. #5

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    18,425

    @orel100x - WorldPay is too expensive and not the best merchant support around. Our provider of last resort..

    Stripe beats them hands down and for support and charges....

    Have a GeoExpat related problem - please create a support ticket.

  6. #6

    Join Date
    Feb 2017
    Posts
    9

    When Paypal and Stripe transfer funds to my account HSBC will charge $65 and they do it immediately at time of purchase so no option to accumulate or I shall say okay for PayPal but Stripe immediate.


  7. #7

    Join Date
    Feb 2017
    Posts
    9

    How can??? Customer service at HSBC told me that they will charge $65 for any overseas transfer!!! So would you be kind enough to elaborate a bit more! Thanks.


  8. #8

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    3,563

    You're talking about receiving money? It depends how it is sent. There is a free method. PayPal also has a debit card so you can withdraw cash and make purchases.


  9. #9

    Join Date
    Mar 2017
    Location
    north point
    Posts
    69

    check out guidelines around SVF (Stored Value Facilities) in terms of accepting intl payments.