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…  PayPal Malaysia is finally here! and some Good News for Malaysia businesses to chew on… (Latest! updated Nov 2009)

Now PayPal has officially support RM and you can now link to your bank accounts, this applies for all the malaysian business. Bravo!

See
PayPal supports MYR – Ringgit Malaysia

How to link PayPal to Malaysian Bank Accounts

Paypal Candy BarSo, 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/

44 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 ?

  22. zaki said,

    October 6, 2008 at 8:08 am

    get your visa debit card at public bank, it is easy and fast. 100% grente approve

  23. Share Knowledge with Mohd Nazri dot com said,

    October 7, 2008 at 11:42 pm

    Withdraw PayPal To Maybank Visa Credit Card…

    La­st ti­me I­ j­u­st wo­n­deri­n­g ho­w i­ wa­n­t to­ wi­thdra­w my pa­ypa­l mo­n­ey to­ my Ma­yba­n­k a­cco­u­n……

  24. James said,

    January 8, 2009 at 5:40 pm

    Hi, I was just wondering if it is possible to withdraw from paypal using the new maybankard visa debit?
    Has anyone tried it yet?

  25. David said,

    January 21, 2009 at 5:45 am

    I was at Maybank to make a proper enquiries about their Visa Dbit Card usage with paypal and I was told that it will not work for now thy are working on it. So the best is to open an account with Public Bank and use their card with Paypal since some one have tried it.

  26. Andrie Ahmad said,

    January 22, 2009 at 11:25 am

    Yup, i have also found out that Maybank Visa Devit Card is USELESS online. Sheisshh….

    Gonna open a PB account.

  27. Shaffir said,

    February 23, 2009 at 10:52 am

    I did tried maybank and query on international money withdrawal and they said that we have to provide information on the transactions. What! we need to provide evidence for the withdrawal and yet they will ask us to wait…

    But with al rajhi my life has been easy. Why coz I dont need to worry about the money from paypal as it will be creditted into my account. Yes sometimes they take time to do the transaction but at the end of the day the money will land into my account. No worries.

    I was stunned when I knew that the money that I’m making through paypal had been stuck in my account. Wondering how to withdraw the money from paypal but Al Rajhi made it ease

  28. admin said,

    February 23, 2009 at 3:13 pm

    hi shaffir, so a “foreign bank” actually does better in meeting customer needs that our Malaysia Biggest Bank.

    Maybank CEO should really read this and start getting the product to support the Paypal withdrawal, after all, those money “park” at paypal if withdraw to Maybank, can easily add RM5+ million (assumption, USD 10 withdrawal by 150,000 people – the unofficial figure of Malaysia Paypal Accounts) . Let’s say we raised the figure to USD 100 / Account then a whopping RM50 Million!!! These money sure come handy for Malaysia in view of the economy downturn, don’t you agree?

    PS: I know there was Paypal account that has USD 30,000 and want to cash in.

  29. KC said,

    February 24, 2009 at 11:15 pm

    MBB Visa Debit cant be used. MBB denied the online transaction.

  30. DT said,

    March 9, 2009 at 1:24 pm

    I tried registering with UOB Visa Electron debit card. They denied the transaction so I guess UOB can’t be used too.

  31. eagle said,

    May 16, 2009 at 11:30 pm

    Shaffir,

    You said you successfuly made Pasypal withdrawal through AlRajhi. How reliable and fast was it?

  32. admin said,

    May 18, 2009 at 10:29 am

    hi guys, for alrajhi, i heard in the market they are people facing some problem (while there are people successfully link it up to paypal) when getting the authentication code in the debit card billing and it does not show up! So do take note. Most reliable way still Public Visa Debit Card. Cheers.

  33. Hassu said,

    June 12, 2009 at 9:00 am

    Hi guys! I want to ask y’all, which visa card i can used to make online transaction? I have BSN matrix card, can i used it?

  34. admin said,

    June 15, 2009 at 11:26 am

    hi hassu, theoretically speaking, ALL visa card can be used to transact online. But again…

    It largely depends on the issuing bank (meaning the bank issue the card), whether they allow / disallow it or supporting / not supporting it.

    So if in doubt, check with the bank credit card department. They will know better. It’s all done on the software layer. :)

  35. aKi said,

    July 20, 2009 at 6:06 pm

    Hi Guys,

    Maybank Visa Debit is officially accepted in Paypal now. Register your Visa Debit through maybank2u online and Look out for the newest highlight :)

    Regards,

  36. IbnuHashim said,

    July 30, 2009 at 7:03 pm

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

    >>

    NOW u can do it. U can verify n withdraw using Maybankard Visa Debit Card

  37. IbnuHashim said,

    July 31, 2009 at 4:49 pm

    Yup, i have also found out that Maybank Visa Devit Card is USELESS online. Sheisshh….

    >>

    But I found that Maybankard Visa Debit can be used to pay online, verify n withdraw PayPal balance. How was that?

  38. Ray said,

    August 21, 2009 at 10:11 am

    Hi,
    Can a Malaysia Paypal be used in conjunction with a foreign (e.g. Singapore, UK, US) bank account and/or visa & credit card?

    Thanks.

  39. YC said,

    August 21, 2009 at 5:50 pm

    Hi everyone, Can Standard chartered debit card (which have mastercard logo on it) accept withdrawal for Paypal to the card account? I am interested about the Paypal. Everyone who know the information please let em know. Thanks.

  40. MrCuz said,

    October 19, 2009 at 11:08 pm

    Howdy guys! Good news.. Maybank Visa debit card (yes, the card with the cherries on it) can now be used to shop/pay for stuff online, and CAN BE USED for Paypal withdrawal :D
    Checkout my blog for step-by-step instructions ;)

  41. acne said,

    July 30, 2010 at 9:12 pm

    Yup, i have also found out that Maybank Visa Devit Card is USELESS online.

  42. NiCk said,

    August 16, 2010 at 3:10 pm

    Hey, I’ve been wondering. Im using PBB Visa Electron, and I want to sell my items at ebay. Lets say I sold off my item and I want that amount of money in my bank, how can i do this?

  43. admin said,

    August 17, 2010 at 10:04 am

    hi nick, check it out here.
    http://www.webshaper.com.my/learn/withdraw-paypal-funds-visacard.php

    Also, if you thought of starting an own branded store (your own name), do checkout http://www.webshaper.com.my, start selling online only from RM1 per day

  44. Nick said,

    August 20, 2010 at 4:38 pm

    Thanks man!

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