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gregoriomills
Joined: 02 Mar 2009 Location: Busan, Korea
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Posted: Tue Mar 17, 2009 9:02 pm Post subject: Paypal Korea |
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Does anyone have any experience with setting up a Korean paypal account and linking it to your Korean bank account?
I realize paypal doesn't allow you to hold balances in Korean Won, but I assume it would just convert to dollars, euro, pounds, whatever...? |
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ChinaBoy
Joined: 17 Feb 2007
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Posted: Tue Mar 17, 2009 9:46 pm Post subject: |
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I thought that if you transfered a currency into an account which can't hold that type of currency it's bounced out. You can't deposit USD into a KRW account.
I think Koreans hold KRW in their Paypal accounts, am I mistaken?
I used to be up on this, but sadly my memory isn't what it once was. |
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Jane

Joined: 01 Feb 2003
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Posted: Tue Mar 17, 2009 11:50 pm Post subject: |
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I believe you can open a Paypal account in the currency you will be transacting with.
But, beware!
My friend once got paid KRW into a Korean paypal account, and the only way to get it out was to spend it.
Paypal refused to convert it and send the balance to a USD account, for example. He spend a lot of energy pursuing this issue.
Whether a KRW balance can be transferred to a Korean account, I don't know. Although if it were that easy, my friend would have done that. He was in Korea at the time too. |
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WendyRose

Joined: 10 Dec 2008 Location: hanam-si, seoul
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Posted: Wed Mar 18, 2009 1:22 am Post subject: |
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I tried to do this when I first came here and it's not possible. You have to enter a number (equivalent to SSN in the US) which means you need to be a Korean resident. At least that's what Paypal explained to me when I called them wondering why my ARC number wasn't working... |
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ChinaBoy
Joined: 17 Feb 2007
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Posted: Wed Mar 18, 2009 3:15 am Post subject: |
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Yeah, that's it. Koreans can use KRW, but not people from other places.
Same thing in China.
Bogus, dude. |
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SuperHero

Joined: 10 Dec 2003 Location: Superhero Hideout
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Posted: Wed Mar 18, 2009 3:44 am Post subject: |
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WendyRose wrote: |
I tried to do this when I first came here and it's not possible. You have to enter a number (equivalent to SSN in the US) which means you need to be a Korean resident. At least that's what Paypal explained to me when I called them wondering why my ARC number wasn't working... |
Wrong, I've done it. |
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coralreefer_1
Joined: 19 Jan 2009
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Posted: Wed Mar 18, 2009 5:02 am Post subject: |
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WendyRose wrote: |
I tried to do this when I first came here and it's not possible. You have to enter a number (equivalent to SSN in the US) which means you need to be a Korean resident. At least that's what Paypal explained to me when I called them wondering why my ARC number wasn't working... |
This is spot on! Their registration service will not accept our foreign registration numbers. I was told my the person who answered my inquiry about this that at some point in the future this option may be opened, but as of that time (about 9 months ago) it was not possible. |
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WendyRose

Joined: 10 Dec 2008 Location: hanam-si, seoul
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Posted: Wed Mar 18, 2009 6:44 am Post subject: |
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SuperHero wrote: |
WendyRose wrote: |
I tried to do this when I first came here and it's not possible. You have to enter a number (equivalent to SSN in the US) which means you need to be a Korean resident. At least that's what Paypal explained to me when I called them wondering why my ARC number wasn't working... |
Wrong, I've done it. |
If you figured it out, please inform us how. It would be much more convenient to transfer money from my one account to another without the whole language barrier dance at the bank! |
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gregoriomills
Joined: 02 Mar 2009 Location: Busan, Korea
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Posted: Wed Mar 25, 2009 5:57 am Post subject: |
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WendyRose wrote: |
SuperHero wrote: |
WendyRose wrote: |
I tried to do this when I first came here and it's not possible. You have to enter a number (equivalent to SSN in the US) which means you need to be a Korean resident. At least that's what Paypal explained to me when I called them wondering why my ARC number wasn't working... |
Wrong, I've done it. |
If you figured it out, please inform us how. It would be much more convenient to transfer money from my one account to another without the whole language barrier dance at the bank! |
Yeah, thanks for the help, guys. My ARC card wasn't working, either, and now I know why. It's really not that much better of a deal than just wiring the money home. In fact, the bank might even be better. |
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Ukon
Joined: 29 Jan 2008
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Posted: Wed Mar 25, 2009 6:50 am Post subject: |
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I use paypal to send money to the US(I sent it to my other paypal account). However, you need a corporate tax ID to register a bank account for dirt cheap wires....
You just put money into the count via your credit/debit card(korean or foreign). |
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kasain
Joined: 25 Oct 2008
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Posted: Wed Mar 25, 2009 7:09 pm Post subject: |
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I am assuming you have a US Paypal account.
I did set my USA paypal account to work with my Korean cards.
KB bank gave me a prepaid VISA. Basicaily I give them 1,000,000 a month that goes on a mastercard linked to the bank.
The mastercard regesters fine on paypal.
You can always add a confirmed Korean address to paypal. and when shipping to USA or Korea you just change where you want the goods to go.
I used my US paypal account with korean card for direct2drive, ebay, western union money orders and so on.
Its very easy to set up anyone can do it. Also use paypal to pay skype.
It will show you paid in won and how much US dollars it was as well. |
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prairieboy
Joined: 14 Sep 2003 Location: The batcave.
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Posted: Wed Mar 25, 2009 7:37 pm Post subject: |
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I've been trying to figure out this paypal thing with KRW and there is no information on the paypal site that helps explain anything.
Thanks to everyone so far. More details please about what I need to do. I have a North American based paypal account and want to monetize a web site I'm trying to build. The money is basically useless to me at home but would be needed here.
Thanks and Cheers |
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kasain
Joined: 25 Oct 2008
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Posted: Wed Mar 25, 2009 8:34 pm Post subject: |
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Well if you do what I did, the mastercard is a debit card. If people paid you, the money would be credited to your korean account.
It was tricky setting up, but I did get it to work. The only really hard part that remains is if you do use that credit card to buy something online through paypal, and it ask for yoru address.
When the people set up the account they write it in korean and most websites cant accept korean charaters. But if you have a verified NA address you can just use that address. You do that paypal thing where it generates a instant 1 time or multi use online number. |
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kasain
Joined: 25 Oct 2008
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Posted: Wed Mar 25, 2009 8:35 pm Post subject: |
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Well if you do what I did, the mastercard is a debit card. If people paid you, the money would be credited to your korean account.
It was tricky setting up, but I did get it to work. The only really hard part that remains is if you do use that credit card to buy something online through paypal, and it ask for yoru address.
When the people set up the account they write it in korean and most websites cant accept korean charaters. But if you have a verified NA address you can just use that address. You do that paypal thing where it generates a instant 1 time or multi use online number. |
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kasain
Joined: 25 Oct 2008
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Posted: Wed Mar 25, 2009 8:35 pm Post subject: |
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Well if you do what I did, the mastercard is a debit card. If people paid you, the money would be credited to your korean account.
It was tricky setting up, but I did get it to work. The only really hard part that remains is if you do use that credit card to buy something online through paypal, and it ask for yoru address.
When the people set up the account they write it in korean and most websites cant accept korean charaters. But if you have a verified NA address you can just use that address. You do that paypal thing where it generates a instant 1 time or multi use online number. |
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