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All about South Korea => Services and Help => Topic started by: hangook77 on October 22, 2020, 12:21:28 pm

Title: How does Paypal work in 2020 in Korea?
Post by: hangook77 on October 22, 2020, 12:21:28 pm
Can Korean PayPal be linked to a Canadian or American one?  My Canadian one is linked to my RBC Bank account.  Can Korean do the same?  I had heard a few years ago there were lots of problems with the Korean version for foreigners.  Can I send money back and forth?  Can a Korea citizen transfer money via it to a foreign PayPal?  I haven't checked what the latest rules are for 2020.
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on October 22, 2020, 12:41:06 pm
Can I trade money with a Korean PayPal from my Canadian one and Vice versa?  Use to be restrictions and cumbersome Korean government regulations? 
Title: Re: How does Paypal work in 2020 in Korea?
Post by: thunderlips on October 22, 2020, 01:08:57 pm
No Paypal korea still sucks donkey balls
Title: Re: How does Paypal work in 2020 in Korea?
Post by: 745sticky on October 22, 2020, 02:09:34 pm
Can I trade money with a Korean PayPal from my Canadian one and Vice versa?  Use to be restrictions and cumbersome Korean government regulations?

They'll charge you the transaction transfer fee or whatever, so you probably don't want to. No options for friends&family
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on October 23, 2020, 01:25:41 pm
Okay, so I sent a small amount of money from my Canadian PayPal to a another foreigner here but he has Korean PayPal.  I want to test it.  I will get him to send a small amount back to me.  I also want him to transfer to his Korean bank account or put it as balance on his Korean Credit Card.  I will have to wait to find out how this goes.  I want to find out of they still have racist restrictions or not.  Foreigners use to be restricted with Credit Cards and other things, but aren't in 2020. So hopefully, Korean PayPal also quit being racist.  Not a problem for me.  But testing for a friend. 
Title: Re: How does Paypal work in 2020 in Korea?
Post by: thunderlips on October 23, 2020, 02:07:12 pm
Okay, so I sent a small amount of money from my Canadian PayPal to a another foreigner here but he has Korean PayPal.  I want to test it.  I will get him to send a small amount back to me.  I also want him to transfer to his Korean bank account or put it as balance on his Korean Credit Card.  I will have to wait to find out how this goes.  I want to find out of they still have racist restrictions or not.  Foreigners use to be restricted with Credit Cards and other things, but aren't in 2020. So hopefully, Korean PayPal also quit being racist.  Not a problem for me.  But testing for a friend. 

Your friend will not be able to transfer to their Korean account, unless they are is Korean.
Title: Re: How does Paypal work in 2020 in Korea?
Post by: 745sticky on October 23, 2020, 02:35:51 pm
unless they are is Korean.
Title: Re: How does Paypal work in 2020 in Korea?
Post by: thunderlips on October 23, 2020, 02:45:57 pm


sorry typiong fast
Title: Re: How does Paypal work in 2020 in Korea?
Post by: CO2 on October 23, 2020, 02:56:52 pm
https://www.youtube.com/watch?v=Pv61yEcOqpw
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on October 23, 2020, 03:00:37 pm
Your friend will not be able to transfer to their Korean account, unless they are is Korean.

Oh?  Still with the racist shit in 2020?  I figured they would have gotten rid of that by now.  I guess it makes it pointless to have in Korea then.  Some US relatives send me money from their PayPal taken from their account and send to my Canadian PayPal and I put into my bank account and Vice Versa.  No problems there.  I guess where the Korean credit card companies changed their tune in recent years, I had hoped PP would have too.  They use to discriminate.  So, I never bothered with them and kept my Canadian ones.  I know they do give out the cards now (though prob still restrictive.)  I was surprised that my Nonghyup check card worked in Canadian 2018 when it didn't in years past.  I even asked and they said foreigners were denied and also foreigners even when they could get local CC couldn't use overseas.  So, I just kept my Canadian stuff going.
Title: Re: How does Paypal work in 2020 in Korea?
Post by: Mr.DeMartino on October 23, 2020, 03:57:28 pm
Oh?  Still with the racist shit in 2020?  I figured they would have gotten rid of that by now.  I guess it makes it pointless to have in Korea then. 
Yes, I'm sure Paypal decided to embrace a policy of racism and that's why this is the way it is.
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on October 23, 2020, 07:02:08 pm
Yes, I'm sure Paypal decided to embrace a policy of racism and that's why this is the way it is.

I have yet to verify whether true or not.  But if true, a policy of discrimination whereby Koreans are allowed to use it and foreigners are not seems preferential and discriminatory to me.  Unless Koreans are also denied the right to transfer to their bank account and we are all treated EQUALLY shitty....
Title: Re: How does Paypal work in 2020 in Korea?
Post by: Getsome on October 24, 2020, 12:13:18 am
I have yet to verify whether true or not.  But if true, a policy of discrimination whereby Koreans are allowed to use it and foreigners are not seems preferential and discriminatory to me.  Unless Koreans are also denied the right to transfer to their bank account and we are all treated EQUALLY shitty....

But, don't you know that korea is sparkling?
Title: Re: How does Paypal work in 2020 in Korea?
Post by: Mr.DeMartino on October 24, 2020, 09:59:44 am
I have yet to verify whether true or not.  But if true, a policy of discrimination whereby Koreans are allowed to use it and foreigners are not seems preferential and discriminatory to me.  Unless Koreans are also denied the right to transfer to their bank account and we are all treated EQUALLY shitty....
Maybe it has something to do with anti-tax evasion concerns? Or just plain lazy Korean IT?
Title: Re: How does Paypal work in 2020 in Korea?
Post by: waygo0k on October 25, 2020, 12:47:22 pm
It is possible to use PayPal in Korea...but you must use the following steps to the letter:

1. Invest in a reliable VPN service that allows you to get a dedicated IP address (you will see the importance of this in the following steps)

1a. The dedicated IP address means you and only you will have access to this address.

2. Open an account with an online challenger bank...aka digital bank (e.g. Revolut, Monzo, Ally etc)

3. These banks will allow you to have an account in your home country, and they will send a bank card to you wherever you are

4. Use your dedicated VPN IP address to open a PayPal account if you don't have one yet, if you already have an account just log in...YOU MUST USE ONLY THE DEDICATED IP ADDRESS because the regular public VPN IP addresses have most probably been misused by others and flagged by PayPal, so if you make the mistake of accessing your PayPal with one of the flagged public addresses your account will get banned.

4a. Obviously, use your home address in your home country as the address you register with on paypal.

4b. The point of using the VPN iss to get around the security blocks Korea has on financial services like PayPal, western union etc...if you access these sites with a Korean IP address, you will be redirected to the Korean version 100 times out of 100 with zero ways to access and use the global versions.

5. Now that you have your VPN set up, digital bank account set up and your PayPal set up...you can link the PayPal account to your digital bank (using card and account number if you wish, or just one)...and you can freely withdraw and transfer money between the two.

6. You can send money between your Korean and digital bank accounts through SWIFT transfers...some digital banks allow you to add money to the account using a debit/credit card...but this doesn't always work (though in my experience Citibank Korea cards work with Revolut...but not the other Korean bank cards).
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on October 25, 2020, 07:20:45 pm
Here's something strange, I sent a friend in Korea 20 bucks from my Canadian PayPal to his Korean PayPal.  He's a foreigner with only Korean cards and banking.  Anyways, it said today, it was refunded to me.  Not sure if he sent it back to me or not.  This is very confusing. 
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on October 25, 2020, 07:22:58 pm
""4b. The point of using the VPN iss to get around the security blocks Korea has on financial services like PayPal, western union etc...if you access these sites with a Korean IP address, you will be redirected to the Korean version 100 times out of 100 with zero ways to access and use the global versions.""

What is this? 

What kind of blocks?  Western Union and PayPal doesn't work here?  How do you send money or receive money?  (I already know about sending money to myself from Nonghyup to RBC.) 
Title: Re: How does Paypal work in 2020 in Korea?
Post by: thunderlips on October 25, 2020, 10:10:37 pm
I am able to use my usa Paypal account here to transfer money back home using kebhana global pay option. But sol to send money from there to here. Try sentbe.

Also interestingly enough Paypal will start carrying cryptocurrency.
Title: Re: How does Paypal work in 2020 in Korea?
Post by: waygo0k on October 26, 2020, 01:22:10 am
""4b. The point of using the VPN iss to get around the security blocks Korea has on financial services like PayPal, western union etc...if you access these sites with a Korean IP address, you will be redirected to the Korean version 100 times out of 100 with zero ways to access and use the global versions.""

What is this? 

What kind of blocks?  Western Union and PayPal doesn't work here?  How do you send money or receive money?  (I already know about sending money to myself from Nonghyup to RBC.) 

They redirect you to the Korean version. When I said blocks, I meant the automatic re-routing from the global version of the site to the Korean version.

For WU, you as a foreigner can't send/receive money online using your bank account or cards (you have to do everything in-branch). For PayPal, you as a foreigner can't transfer money from your Korean PayPal to your bank account.

The same goes with Skype...if you want to use the paid version, they automatically route you to the Korean version for payment...which turns out to be some buggy site run by a local company.
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on October 26, 2020, 07:48:57 am
They redirect you to the Korean version. When I said blocks, I meant the automatic re-routing from the global version of the site to the Korean version.

For WU, you as a foreigner can't send/receive money online using your bank account or cards (you have to do everything in-branch). For PayPal, you as a foreigner can't transfer money from your Korean PayPal to your bank account.

The same goes with Skype...if you want to use the paid version, they automatically route you to the Korean version for payment...which turns out to be some buggy site run by a local company.

I know about Skype.  It's weird.  They just get me to pay a 10 per cent sales tax but it still goes through. 
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on October 26, 2020, 07:52:15 am
So far.  I resent money again.  This time he got it and checked right away instead of waiting a few days unlike the first time.  But he says it is asking him for an ID and then a bank code.  I never have done this receiving or sending money on the Canada side or on the US side.  Also when sending the money most countries currencies were there including Taiwan, Japan, Russia (under sanctions), etc.  Only Korea and then some mid range developing countries were not there.  Except Korea is suppose to be a developed country. 
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on November 16, 2020, 10:37:07 am
Yeah, so I sent a South African here some money via Paypal and he can't get it out.  He has Korean PayPal.  I have Canadian PayPal.  So, I guess, it's useless here and discriminates against foreigners. 
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on November 16, 2020, 10:39:33 am
He also said he had to fill in his ARC card and other nonsense to receive even though he can't get the money out.  Anyways, a couple weeks later, money is stuck there.  Useless.  It's funny, I sent money and received money between the US and Canada.  Never had to enter any ID.  I just got the money and transferred direct to my bank account.  No problem.  Very simple.  Not sure why it has to be so lame and so complicated here. 
Title: Re: How does Paypal work in 2020 in Korea?
Post by: D.L.Orean on November 16, 2020, 10:42:03 am
Seems like the quickest way to transfer money between two people in Korea would be a quick bank transfer. Takes less than 2 minutes using a phone app. Obviously, if one of the parties doesn't have a Korean bank account it becomes more complicated.
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on November 16, 2020, 10:49:38 am
Seems like the quickest way to transfer money between two people in Korea would be a quick bank transfer. Takes less than 2 minutes using a phone app. Obviously, if one of the parties doesn't have a Korean bank account it becomes more complicated.

Of course, but we were testing it for global transfers quick and easy.  (Even though we are both in Korea.) 
Title: Re: How does Paypal work in 2020 in Korea?
Post by: 745sticky on November 18, 2020, 12:36:36 pm
It is possible to use PayPal in Korea...but you must use the following steps to the letter:

Alternatively:

visit paypal.com, get redirected to paypal.com/kr/home
replace /kr/ with /us/ or whatever your home country is
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on November 18, 2020, 02:43:13 pm
Alternatively:

visit paypal.com, get redirected to paypal.com/kr/home
replace /kr/ with /us/ or whatever your home country is

???  Korea still has a restriction for anyone that signed up from here for it with no accounts in their home country.  (I still don't get why foreigners shut it all down back home unless they are running from debt.)  My paypal works fine as long as I use it nothing Korean related.  If you sign up for North American PayPal and don't use it here, it's fine. 
Title: Re: How does Paypal work in 2020 in Korea?
Post by: 745sticky on November 18, 2020, 02:57:55 pm
Yeah, I misread the post. That one's on me
Title: Re: How does Paypal work in 2020 in Korea?
Post by: JNM on November 19, 2020, 05:01:49 am
...(I still don't get why foreigners shut it all down back home unless they are running from debt.) 

Canadians do it to eliminate ties that may require them to pay income tax in Canada.

British folks do it because they are required to be resident to have a bank account.

Also, many accounts have service fees if you donít keep a specified balance or have regular payroll deposits - and transfers donít count some places.
Title: Re: How does Paypal work in 2020 in Korea?
Post by: hangook77 on November 22, 2020, 12:58:10 am
Canadians do it to eliminate ties that may require them to pay income tax in Canada.

British folks do it because they are required to be resident to have a bank account.

Also, many accounts have service fees if you don’t keep a specified balance or have regular payroll deposits - and transfers don’t count some places.

Really?  I don't pay income tax, but keep my bank account, credit cards, drivers license, etc.  I did get a confirmation of non residence on my last income tax filed during my first year here.  I wrote a personal letter explaining my situation and included it with my income tax filed for the previous year in which I did work in Canada.  I keep that as proof they ruled me a non resident.  But as a non resident, I am grandfathered in for certain things with my banks but can't get new offers or services.  PayPal is a pain if you forget the password.  No phone number for sms.  I had my sisters landline number which does me no good here.  I have to call their Canadian automated line requesting they send a password reset to my email address.  (Since, I am not using the useless Korean version.)

I just set up a Coin base account using my Canadian PayPal and my RBC VISA.  Visa has to be to deposit money and PayPal for withdrawal which then goes onto my RBC bank account.  (Not sure if I will finally jump on the bitcoin craze or not.)
Title: Re: How does Paypal work in 2020 in Korea?
Post by: JNM on November 22, 2020, 04:29:55 am
Really?  I don't pay income tax, but keep my bank account, credit cards, drivers license, etc.  I did get a confirmation of non residence on my last income tax filed during my first year here.  I wrote a personal letter explaining my situation and included it with my income tax filed for the previous year in which I did work in Canada.  I keep that as proof they ruled me a non resident.  But as a non resident, I am grandfathered in for certain things with my banks but can't get new offers or services.  PayPal is a pain if you forget the password.  No phone number for sms.  I had my sisters landline number which does me no good here.  I have to call their Canadian automated line requesting they send a password reset to my email address.  (Since, I am not using the useless Korean version.)

I just set up a Coin base account using my Canadian PayPal and my RBC VISA.  Visa has to be to deposit money and PayPal for withdrawal which then goes onto my RBC bank account.  (Not sure if I will finally jump on the bitcoin craze or not.)

They decide on everybody individually, and they look at the overall situation.  Bank accounts are but one of the considerations.