PayPal Hong Kong Business Account Review [2024]: Features, Fees & Support

Established in 1998, PayPal is a global payment service provider that offers a secure platform for online transactions. It enables individuals and businesses to send and receive money across borders. PayPal's services include online payment processing, digital wallets, and payment gateway solutions for ecommerce platforms, helping millions of businesses grow and expand globally.

Businesses can use PayPal to accept payments, issue invoices, and manage transactions for goods and services. With its global reach and reliability, PayPal has become a go-to solution for global commerce.

PayPal’s features and services vary across regions. This review focuses specifically on the features and services available to businesses in Hong Kong.

Business Accounts

Here are the key features of PayPal business accounts in Hong Kong

• Support 24 currencies in one single account
• Send and receive payments within Hong Kong and around the world.
• Unlimited free transfers between PayPal accounts
• Schedule and manage payments sent to multiple recipients at once
• Convert money between currencies at wholesale rates*, which are lower than traditional banks
• Share payment links or QR codes to clients to accept payments online
• Create and send professional invoices to clients
• Issue customer refunds directly from PayPal account
• Access transaction reports to help manage business finances and analyse payment trends.
• Mobile app support to access, manage, and make payments on the go.

Other Services

• Subscription Features: Customise subscription plans with flexible payment options like fixed or quantity pricing, and adjustable billing cycles.
• Payment Gateway Service: Integrate PayPal with your online store or ecommerce platforms (i.e., Shopify, WooCommerce, and eBay) to process payments securely and improve the checkout experience.
• Fraud and Risk Protection: Benefit from PayPal's built-in security features, including buyer and seller protection, to safeguard transactions.

PayPal’s Feature Rating is 3.7/5

PayPal Hong Kong offers robust multi-currency support, seamless ecommerce integration, and strong international transaction capabilities. PayPal’s fraud protection and payment gateway services make it attractive for online sellers and businesses expanding into new markets. 

However, the absence of a business debit card—a standard feature in modern financial services—restricts financial flexibility. This significant drawback contributes to its rating.

There are no opening fees or monthly fees to use PayPal Hong Kong business accounts. 

Below are other fees charged by PayPal Hong Kong

For detailed pricing information, please refer to PayPal’s merchant fee page.

PayPal Hong Kong’s Fees Rating is 2.5/5

While PayPal doesn’t charge any opening or monthly fees, its transaction fees for both domestic and international payments are relatively high. Fees of 2.9% to 4.4% for receiving payments are more expensive compared to many competitors.

Additionally, the 3-4% currency conversion fees add significant costs for businesses dealing with foreign currencies. These higher charges can quickly eat into profits, especially for businesses with frequent or high-volume transactions.

PayPal Hong Kong offers customer support through various channels. Clients can contact them via email, live chat, or by calling +852-3550-8584 on weekdays from 9 AM to 6 PM (GMT+8). For after-hours assistance, customers can access the Help Center, Resolution Center, or community forum for additional support and resources.

PayPal Hong Kong Customer Support Rating is 4.2/5

While PayPal offers multiple support channels, the lack of 24/7 assistance is a notable drawback, potentially leaving customers stranded with issues outside working hours. While the Help Center and community forum provide additional resources, they may not offer immediate solutions for more complex issues.

All businesses registered in Hong Kong can apply for a PayPal business account. The application process is straightforward and can be completed online or via a mobile app within 5 minutes. PayPal will ask for basic information about your business to set up your account, including:

• Your full name
• Phone number
• Email
• Date of birth
• Your Business Registration Number (BRN)
• Residential address (cannot be a PO box)
• The primary use for the PayPal business account
• Preferred payment-acceptance channel
• Monthly sales volume estimation

The Ease of Opening an Account for PayPal is 5/5

Opening a PayPal business account is efficient, straightforward, and user-friendly. Its entirely online application offers a swift and convenient setup, ideal for modern businesses.

Founded in 2019, Statrys is a licensed Money Service Operator based in Hong Kong that aims to bridge the gaps between modern payment solutions and effective customer service.

Our solutions help businesses in Hong Kong, Singapore, and the British Virgin Islands (BVI) to receive, hold, and send payments in all major currencies with ease. We also provide virtual and physical payment cards, allowing clients to make purchases and withdraw cash at ATMs where Mastercard® is accepted.

Moreover, our team is ready to assist you via multiple channels, including WhatsApp, WeChat, email, and live chat, to ensure your inquiries are addressed promptly and efficiently. This commitment is reflected in the Trustpilot rating of 4.6/5.

1. How does PayPal calculate its exchange rates?
2. PayPal’s fee for receiving local payments 
3. PayPal’s fee for receiving international payments
4. PayPal’s fee for sending payments locally and internationally
5. Percentage markup for currency conversion
6. PayPal’s Trustpilot reviews