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!
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.
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.
- How to link PayPal Malaysia to your bank accounts?
- Withdraw PayPal Funds to PublicBank Visa Electron Debit Card
- PayPal Funds in My Visa Electron Within 5 Days
- Some hiccups trying to withdraw to mastercard
- Malaysians� PayPal Dream Comes True
- Withdraw PayPal Funds From Credit/Debit Card In Malaysia
- PayPal �?�以出钱咯
- Malaysians Can Withdraw Paypal Now! – Debit Card Version (English Version of JimmyChin posting)
- al-Rajhi Bank’s Debit Card works with PayPal
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/