PayPal Allows Malaysian Withdraw Funds to Local Bank Account
PayPal has finally offered an new option for Malaysian to withdraw funds from their PayPal account to local bank account.
This is definitely a good news for Malaysian PayPal users as Malaysians can only withdraw funds to credit card previously with USD5.00 charges.
How to Withdraw Funds to Local Bank Account in PayPal
First of all, you have to be a PayPal user.
Upon login, click on the “Withdraw” tab under “My Account” section.
There’re 2 options for users to withdraw fund,
- Withdraw to your bank account
- Withdraw funds to your card
It only takes 2-3 Business Days for PayPal to process the transaction and RM3.00 will be charged if the transferred fund is lesser than RM400.
You’re required to add a bank account to finish the process. RM40.00 is the minimum withdrawal amounts for you to withdraw the fund to your bank account.
What you need to fill in are your name, bank name, MEPS bank routing code, and account number.
PayPal will remember your added bank account for next transaction in future.
If you’re withdrawing your fund in USD, the fund will be converted to Ringgit Malaysia automatically with PayPal currency converter.
All the transaction process is as simple as ABC. Enjoy withdrawing your fund to your bank account!
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Loretta said,
Wrote on December 27, 2009 @ 12:23 am
When registering the bank account info, PayPal needs our ‘First name’ & ‘ Last name’ only. But being Malaysian Chinese, I have an English name + Surname + 2-character Chinese name, which appears in the bank account as my full name. Does this create any problems if I just register without using full name?
Kay said,
Wrote on December 27, 2009 @ 11:00 am
@Loretta, I think it’s better to register the name which tally with your name in your bank account.
justin said,
Wrote on May 28, 2010 @ 1:26 pm
This is the best way how to withdrwal money from paypal instead into bank card credit.Useful info
Matt Price said,
Wrote on August 28, 2010 @ 1:16 am
I think it relies on the perspective of the individual. A lot of people will probably believe something else, but you never know. I’m going to make a post more on the topic and maybe we can discus this through our blog. I’m interested in hearing more about your perspective.