10.02.07

Paypal supports Money withdrawal for Malaysia Merchants?!!

Posted in E-commerce, Payment Gateway, Paypal at 12:16 pm by malcolm

Good day… some Paypal Good News for Malaysia businesses to chew on… Paypal Candy Bar So, Is this, what Malaysia merchants have been waiting for “decades” (literally), finally come true? does it mean from now on, we don’t have to go through all these hard-ball methods just to get our hard-earned money cash out so we can park in Malaysia bank account to earn some decent interest (for those who didn’t declare the $, beware, it’s rumored that that LHDN (aka Inland Revenue Board / Government Tax Agency) is paying attention to all these $$$ ‘floating’ around in Paypal and want a cut of what you have). Well, you just gonna read on… Yes, this is official, PayPal now offers account balance withdrawals to Visa-branded or MasterCard-banded credit, debit, or prepaid cards in Argentina, Brazil, Bulgaria, Chile, Cyprus, Estonia, Gibraltar, Iceland, Indonesia, India, Israel, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malaysia, Malta, Philippines, Romania, San Marino, Slovakia, Slovenia, Turkey, UAE, and Uruguay. The new feature will cost $5 per withdrawal and will take 5 to 7 business days to be completed. It would also have a minimum of USD $10(~RM 34) per transaction and a daily maximum withdrawal limit of USD $500 (~RM 1700). If you withdraw the maximum limit, the cost of withdrawal will go down to only 1% of the total amount. The easy 3-step process for withdrawal showed as below.

Paypal credit card / debit card withdrawal support for Malaysia Merchants

If you want to find out Paypal offering in details for any particular countries, click here. The original posting about this announcement is available at original Paypal blog update: Official FAQs on PayPal�s New Withdrawal Feature However, if you really want to know more about how it actually works, nothing beat reading the posting from all these proactive Malaysia young bloggers. Their “real-life” experience connecting Paypal to their credit / debit cards will give you a very good picture on what works, and what doesn’t.

Useful Links to Visa / MasterCard Debit Card (whic you can experiment, or you can wait until someone actually tested it)

Updated links on Tune Card and Al Rajhi Bank Debit Card (both are visa branded debit card) http://tunemoney.blogspot.com/2007/12/cash-out-your-paypal-using-tune-card.html http://www.elvinlok.com/2007/11/paypal-withdrawal-using-al-rajhi-bank-debit-card-it-work/

21 Comments »

  1. Payment Gateway in E-commerce - Page 2 - Webmaster Malaysia Forum said,

    October 2, 2007 at 6:49 pm

    […] since yesterday The PayPal Blog: PayPal Introduces New International Withdrawal Functionality Sell More Online

  2. Sell More Online » Selling Online using Paypal Storefront Widget said,

    December 27, 2007 at 10:21 am

    […] Up now for a Paypal Account, verify it using your Credit Card) - if you are Malaysian, read more on how to transfer the Paypal balance to Malaysia Bank Account and turn it into Cold Hard Cash that you can spend us a nice meal for tipping you […]

  3. FELEX said,

    January 22, 2008 at 6:44 pm

    Anyone use MOL and UOB debit card?Is it accepted by pay pal?tq

  4. adrian oh said,

    January 23, 2008 at 11:39 am

    hi felex, we haven’t tried out with MOL / UOB debit cards. but if they are VISA-branded (like pbbank, tunecard), very likely it will work. :) you might want to checkout the blogosphere seeing what people have to say.

    see the updated links above on the blog post.

  5. grace said,

    February 29, 2008 at 4:00 pm

    What is MOL?

  6. grace said,

    February 29, 2008 at 4:01 pm

    can I use Maybank Visa Credit Card to get my paypal money? Anyone try before? What is the interest or charges by Maybank let say I withdraw USD100?

  7. muizz said,

    March 14, 2008 at 3:45 pm

    i have use MOL Freedom Card for verify my paypal account,
    and thats it can lah……….

    u can buy the card at 7eleven……..

  8. Sell More Online » Here comes Maybank Visa Debit Card said,

    March 15, 2008 at 11:22 pm

    […] Maybank just launched a new visa debit card which ties to your saving or current account. Very likely this card can be used to withdraw Paypal funds. […]

  9. lankapo said,

    March 26, 2008 at 11:09 am

    hi, thanks for the back link

  10. EliteVillain said,

    March 26, 2008 at 9:17 pm

    lolz…Didn’t know my post for withdrawing Paypal money in the good old days has a name (hard-ball method)

    Thank you for the debit card list =)

    Not all debit cards are economic so check out my newest review on 3 Malaysia Debit Cards

    http://prevalentco.blogspot.com/2008/03/malaysia-debit-cards-comparisons.html

  11. Roy said,

    April 2, 2008 at 11:24 am

    Possibility that we can use Maybankard Visa Debit on Paypal. Just check out their FAQs - http://www.maybank2u.com.my/site_functions/faq/index.shtml?visa_debit#a4

    Can I use my Maybankard Visa Debit outside Malaysia?
    You can use your Maybankard Visa Debit abroad provided you activate the overseas flag prior to your departure. The activation process can be done through our Maybank ATMs or through our 24 hours customer service centre at 1-300-88-6688. Your Maybankard Visa Debit can then be used for retail purchases at any VISA merchants and cash withdrawal at any ATMs with a VISA PLUS logo.

  12. BangMovie said,

    April 2, 2008 at 1:08 pm

    Maybank Visa Debit Card cannot be used for Paypal verification and online purchasing.

  13. bubbly79 said,

    April 23, 2008 at 6:11 pm

    hi malcolm,

    i have a verified pay pal account and its linked with my eBay account. as ignorant as any newbie could be regarding these transactions, i would like you to help me understand the withdrawal term.

    i have already made a few purchase of goods through ebay using pay pal. and of course pay pal is linked with both of my credit card (maybank and Ambank).
    you mention earlier that as of 2008 credit cards are not applicable here in malaysia? if so, what would happen to my then verified pay pal account and how shall i make withdrawals? also i am an active seller in eBay. payment are all made through pay pal. please help me. i don’t have visa electron debit card.

    please advise.

  14. bubbly79 said,

    April 23, 2008 at 6:12 pm

    AMbank verified my pay pal account fyi thanks again

  15. Darren said,

    May 13, 2008 at 11:54 pm

    Paypal has their own debit card. Would this card able to provide same convenience as PB bank debit card? or can we save the USD5 using that card since we do not need to do the transfer?

  16. mc said,

    May 17, 2008 at 3:46 pm

    Hi,

    FYI tunemoney.com VISA debit card can be verify with PayPay and withdraw to you tunemoney card.

    Just visit their web site to get one, annual fee RM9.90
    http://mc.890m.com/ppwdraw.gif

    Good luck

  17. Khairil said,

    June 14, 2008 at 8:20 am

    as of today…maybank visa debit card still cannot be used for online purchasing and so related stuff. What i found out from their customer care, they are planning to make it availabe within next 2-3 months…i donno..we just wait n see lor…

  18. Bujuk said,

    June 23, 2008 at 8:31 am

    Khairil, thanks for the update

  19. Sell More Online » Paypal Car Stickers said,

    July 15, 2008 at 10:04 pm

    […] Are you cashing the Paypal money out? if so, how do you do that? if not, how do you plan to spend […]

  20. christine said,

    August 14, 2008 at 12:07 am

    Hey,everyone. I already have a paypal account. I wonder how to transfer the money out from paypal. which card will be most convenient for this and what is the procedure??

  21. h s goh said,

    August 20, 2008 at 3:19 am

    if i use my friend credit cad transfer money to paypal.can i withdral money to my atm card ?

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