How to receive money on PayPal HK: Step by step

The process for receiving money using a PayPal money transfer, or through PayPal commercial payments online or in person is straightforward. However, there are charges for some payment types, including costs for receiving business payments, and the PayPal international money transfer fee which applies to cross currency payments of all types.

This guide walks through all you need to know about receiving PayPal money transfers, and also highlights a smart alternative if you’re getting paid from overseas - Wise.

How to receive money on PayPal

To receive money on PayPal, you’ll first need an active PayPal account.

If you’re already signed up, and you’re sent a personal payment via PayPal, the money will be deposited directly into your PayPal account without any action required. Otherwise, you’ll get an email letting you know someone has sent you money, and you’ll be guided through the process of setting up your PayPal account online¹.

If you need to request a payment from someone, you have a couple of different options². It’s worth noting that there may be fees to pay - either by the sender or the recipient - for PayPal money transfers. More on that, later.

Send an email request

• Log into your PayPal account
• Go to Send and Request, and hit Request
• Enter the email address of the person you’re asking for a payment
• Enter the amount you’re requesting
• Add a note
• Click Request a Payment to confirm

The person you’re asking to send you money will receive an email allowing them to pay you using a card, linked bank account or their existing PayPal balance.

Send an invoice

• Log into your PayPal account
• Go to Send and Request, and select More
• Find the Create an Invoice option, and hit Get Started
• Follow the online prompts to select a template, enter the payment details and complete the required customer information
• Click Send

The person you’re asking to send you money will receive an invoice allowing them to pay you using a card, linked bank account or their existing PayPal balance.

Use PayPal.me

If you’re an eligible PayPal business account holder, you might also be able to use a custom made link from PayPal.me to take payments using social media, SMS or email³.

PayPal Hong Kong: fees for receiving money

You can receive money through PayPal in a variety of different ways. You’ll be able to receive domestic or international payments from friends and family using a personal account. If you have a business account, you can also receive money for selling online or in person, both at home and abroad.

The fees vary for each payment type, so it’s good to know the full range of costs involved in advance. Here’s a run down by PayPal account type⁴. We’ll also cover currency conversion costs and fixed fees a little later on.

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PayPal personal account fees

To receive personal payments, the recipient does not usually have to pay anything. However, there may be charges which the sender has to cover.

Method of receiving money - PayPal personal accounts	PayPal Hong Kong fees⁴
Receiving a domestic personal payment, funded by PayPal balance or linked bank account	No fee if paid out in HK$ - currency conversion fee may apply otherwise
Receiving a domestic personal payment, funded by credit or debit card	3.4% + fixed fee + currency conversion fee if applicable This charge is paid by the sender
Receiving an international personal payment, funded by PayPal balance or linked bank account	HK$38.99 + currency conversion fee if applicable This charge is paid by the sender
Receiving an international personal payment, funded by credit or debit card	HK$38.99 + 3.4% + fixed fee + currency conversion fee if applicable This charge is paid by the sender

PayPal commercial account fees

Method of receiving money - PayPal business accounts	PayPal Hong Kong fees⁴
Receiving a domestic commercial payment online	3.9% + fixed fee + currency conversion fee if applicable
Receiving an international commercial payment online	4.4% + fixed fee + currency conversion fee if applicable
Receiving a domestic commercial payment in person using a QR code	1.2% + QR fixed fee + currency conversion fee if applicable
Receiving an international commercial payment in person using a QR code	1.7% + QR fixed fee + currency conversion fee if applicable
Receiving an eCheck	Fees are subject to a cap by currency. Fees for eChecks in HK$ are capped at HK$330
Receiving a domestic micropayment	5% + fixed fee + currency conversion fee if applicable
Receiving an international micropayment	6% + fixed fee + currency conversion fee if applicable
Receiving a domestic micropayment for digital goods	5.5% + fixed fee + currency conversion fee if applicable
Receiving an international micropayment for digital goods	6% + fixed fee + currency conversion fee if applicable

PayPal fixed fees

As well as paying a transaction charge, there is a fixed fee charged for receiving most commercial payments. This is a small charge set according to currency. To give an example, if you receive an online commercial payment in HKD, there is an extra HK$2.35 to pay. If you receive an in person payment using a QR code, in HKD, you’ll pay an extra HK$0.80.

PayPal currency conversion fee

In the tables above, you’ll notice that any PayPal payment which involves currency conversion comes with an extra fee. This is in the form of a markup added to the exchange rate.

These charges apply to personal and commercial PayPal accounts, and are applied whenever currency conversion happens, including when you withdraw funds to your own bank account or switch currencies within your PayPal account.

Transaction type	PayPal currency conversion fee⁴
Receiving a payment, withdrawing to a bank account, adding funds to your PayPal account or switching currencies within your PayPal account	3%
Sending a personal or commercial payment, or receiving a refund more than 1 day after the original payment was sent	4%

*Fees correct at time of writing - 31 August 2020

PayPal fees for withdrawing money in Hong Kong

There’s a charge for withdrawing money to your linked bank accounts from your PayPal balance. It’s worth noting that the currency conversion charge laid out above will also apply if you need to switch currencies as part of the withdrawal.

Withdrawal method	PayPal Hong Kong fee⁴
Withdrawing to your local Hong Kong account	HK$3.50
Withdrawing USD to your linked USD account	2.5% of withdrawal value
Instant transfer to your linked account	1% of withdrawal value, with a minimum payment of HK$10, to a maximum of HK$100

Making or receiving international transfers? You could save more with a Wise

PayPal isn’t the only way to make and receive digital payments. If you need to send or receive an international payment online you could be better off using a specialist service like Wise.

Join Wise now!

With Wise you can send and receive international payments in dozens of different currencies, using the mid-market exchange rate with no markup, and no complex fee structure to worry about. There’s just a transparent charge per transaction, and you can see upfront exactly how much the recipient will get. No surprises and no hidden costs.

PayPal Hong Kong contact - How to get in touch

If you have a problem with your PayPal account, the first thing to do is head over to the PayPal Contact Us page⁵. Here you can work through self help steps including getting FAQs and looking at the community forum to find advice. If you can’t find the answers to the questions you have, you’ll be guided to send a secure message online via the PayPal website⁶.

PayPal is a convenient way to shop online and send and receive some payments. However, the costs can be relatively high for international and commercial transactions. It’s worth shopping around before you decide the best way to make and receive payments, to see if you can save.

Check out Wise as a smart, simple way to cut the costs of sending and receiving money from overseas.

Sources used in the article:

1. PayPal - Website

2. PayPal - How do I request payments

3. PayPal - What’s PayPal.Me

4. PayPal - User Agreements

5. PayPal - Help Center Home

6. PayPal - Contact Us

Sources last checked on 11-September 2020.