Sending money from HK to US using PayPal

Reply
  1. #1

    Join Date
    Jul 2008
    Location
    Cheung Chau
    Posts
    5

    Sending money from HK to US using PayPal

    I'm working in Hong Kong for about a year, and I'll be maintaining many financial relationships back in the US (student loans, credit cards, etc.) I need a way to get money to my US bank account so that I can pay my bills. I want to use PayPal, but I'm having trouble sending money using my Hang Seng savings account. I successfully registered my new savings account in a new PayPal account so that I could send money to my old PayPal account that is linked to my US bank account. But the add value option and the send money option do not seem to allow me to take money from my savings account. Any help? Is there a better method? Of course, I'd prefer to do it online and at low cost.


  2. #2

    Join Date
    Aug 2007
    Posts
    64

    Connect your HK credit card (get one through your bank) to your HK Paypal account. Send funds from your HK credit card through your HK Paypal account to your US Paypal account. (Unfortunately you'll have to sign up for a certain type of Paypal account that takes a small percentage of your transaction in order to accept credit card payments.) Transfer the money from your US Paypal account into your US bank. Pay off your HK credit card using funds from your HK bank account.

    (This has worked for friends in HK and Japan, but YMMV.)


  3. #3

    Join Date
    Dec 2004
    Location
    Hong Kong
    Posts
    6,308
    Quote Originally Posted by Shanghai38
    Connect your HK credit card (get one through your bank) to your HK Paypal account. Send funds from your HK credit card through your HK Paypal account to your US Paypal account. (Unfortunately you'll have to sign up for a certain type of Paypal account that takes a small percentage of your transaction in order to accept credit card payments.) Transfer the money from your US Paypal account into your US bank. Pay off your HK credit card using funds from your HK bank account.

    (This has worked for friends in HK and Japan, but YMMV.)

    Yup, that's exactly what I would do. BTW, when's your birthday? I'm a 1980 Libra too.

  4. #4
    er2
    er2 is offline

    Join Date
    Oct 2007
    Posts
    1,478

    I found the exchange rates of both credit cards as well as Paypal to be a joke (resulting effectively in a 5% commission). Since the HK$ is pegged against the US$ that might not be the case, thought.

    If you really transfer significant amounts, have you thought about getting a EPS card to your girlfriend/mum/brother/etc back home and ask them to withdraw from a starplus ATM and put it directly into your bank account?

    I did this once when I had a German scholarship for a stay in Singapore, and it saved me 50 Euro/month and took less than a minute (since the deposit machine was always right next to the ATM).