Malaysian Can Now Withdraw Money from their PayPal Accounts
October 1, 2007 by Gaman
Not that you can’t withdraw before this but the steps usually make your head spin. Some enterprising Internet marketers even took advantage of the complicated steps by selling ebooks telling people how to do it.
Anyway, Wayne Liew emailed me to give a heads-up about a new feature recently introduced by PayPal. Wayne’s post refers to the original post by Sweet Surrender about PayPal is allowing money withdrawal to credit and debit card.
I usually don’t much pay attention to such news before. While I spent thousands of Ringgit monthly via PayPal, I’ve never really used it to accept payments.
Some of you may recall that I promoted MaxBounty at some of my websites. My main gripe about this program is that it automatically converts my commission checks into Ringgit and there’s no way avoiding this. While this means shorter clearing time, I prefer getting paid in US dollars and put up with with the long clearing time.
This is because local checks issued by MaxBounty utilise a terrible exchange rate resulting me to lose hundreds of Ringgit per clearance. This problem is getting worse by the day as the US dollar continues to weaken.
So I told my affiliate manager about this and she recommended me to accept PayPal payment. In such case, I don’t want the money to sit quietly in my PayPal account doing nothing. I rather put them in the bank and earn some interest.
So that’s how I started paying more attention to news related to withdrawing money from PayPal.
Anyhow, to withdraw funds from your PayPal account to a credit, debit, or prepaid card, just add a card with a Visa or MasterCard logo. To do so, go to Withdraw under the My Account tab and click Transfer funds to your card.
It costs USD5 to use this service and there’s a USD500 daily withdrawal limit. For most people I think that shouldn’t be a problem. If you plan to withdraw regularly, I recommend waiting until your balance is nearing the limit to save on service charges.
So, I logged into my PayPal account and tried entering my Public Bank MasterCard but it was rejected with the following message:
This withdrawal cannot be completed because your card issuer does not allow withdrawals to this card. To withdraw funds from your PayPal account to a credit, debit, or prepaid card, add a different card with a Visa or MasterCard logo.
I tried calling PBB card customer service but nobody picked up the phone. I thought they were offering a 24×7 customer service… Anyway, I emailed PayPal and surprisingly within minutes, I got a reply:
Thank you for taking the time to contact us with your concerns. I am happy to assist you further.
Understand you are thinking about trying our new feature for money withdrawal to credit card.
By viewing your account, we found out that you added MasterCard ending with 0***. I am afraid MasterCard can not be used for money withdrawal at the moment, but VISA & American Express card. If you only have one credit card, what do you think about adding US bank account that bank must be located in US soil or VISA debit card?
It is my pleasure to assist you. Thank you for choosing PayPal.
Sincerely,
Jie
PayPal, an eBay Company
So apparently they don’t accept MasterCard credit card at the moment. Why don’t they mention this on their website is beyond me. So I guess I’ll have to get a Visa debit/credit card then. Is there a debit card for MasterCard?
I guess you should get yourself Public Bank Electron though. It’s Visa.
This is good news! Thanks for the info…
try to use visa…
Thanks for the link
Most important thing is, what is the conversion rate?
OMG.. how long has this feature been available? I tried to add a card and found out I have already registered a VISA in there… so I withdraw liao kekeke.. u know, come to think of it, last time one of my purchase thru creditcard/paypal was rejected and my money was returned to my creditcard… why didnt i figure it out earlier that they could transfer $ to my card… astaga…
anyway, thx for the info! p/s. my card is EON VISA.
aiyo good for you!
that really good news for all malaysian online seller and making money online blogs that never had a chance to w/draw the paypal fund before. I think all malaysian should use the the service smartly if not maybe paypal will take back all the new service for us
wau.. really :D.. very good news, now i’m gonna open PayPal account. Ehehehe.. i have visa card but never use it …
so.. lepas ini mudah la saya nak withdraw money dari paypal.
I wonder when MasterCard will be accepted by PayPal… I don’t fancy applying for yet another card. Too many cards already, trying to get rid of most of them…
One more thing, I wonder if they accept a Visa card registered to another persons name - different paypal and card details.
They don’t accept a card registered under a name other than PayPal account owner
so PayPal accept visa?
can I use my BSN Matrix Card ah? got Visa Electron.
good question. i also wanna know about this. anybody?
I heard that the bank who issued the card will charge a fee when withdraw from PayPal to the card, does anyone has more related information?
it is great news
At I knew, credit card issuers/banks doesn’t allow any withdrawal into the credit card as it is just for charge card function but not withdrawal. You need to get a DEBIT CARD to withdraw.
Make sure you ask for debit card but not credit card. You can get debit card from the following banks:
1) Public Bank Visa Electron
2) EON Bank MOL Freedom card
3) AmBank NextG
4) Al Rahji Bank Visa Debit Card
I went to check out from the PayPal sites and confirmed on this news not only for Malaysians.
In need a great news not only for Malaysians. These is available for 25 other Asia Pacific countries as well.
I have posted the details in my blog, you can tell you other friends who are in the countries list on the good news.
Ambank NextG card can’t be use to withdraw the Paypal fund.
maybe if someone can compile all the credit card and debit card than CAN be use to withdraw from Paypal that would be great!! Tq
Someone did it, but I forgot who
hmm…I have the PB visa electron, NextG and also the BSN matrix debit card….
will see which one can be use…
Hi Kevin,
Please share your finding here:
yes kevin, don’t forget to share the outcome..
@Gaman,Mr. Rajawang
sure will do….those who have test this, don’t forget to share it here…
Regards,
KeVin
HI Sabahan
This is Vishen from MindValley Labs. We’ve mentioned each other on our respective blogs before.
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you are off topic here..
Wow. Yay! Sabah boleh!
Ahah i think i am ready to try the withdrawal since i got my visa registered to paypal lols
Hmm …remember thou it is a good news..still..There is a minium charges for Credit card withdrawal which is Around Rm50.00 if am not mistaken.
Okay, need to do some math on comparisons between this method and using VM card.
ok guys….my paypal status shown as complete today…now waiting for the money to arrive at my debit card…
very the good news!! a long waited for Malaysian.
Psst…lost yr PR eh? My personal blog chanlilian.net also kena.
wow you are really watching aren’t you
BTW, I was unable to leave my comment at your blog. I thought it was Firefox but I’m having problem with IE too.
It’s a real good news for all bloggers here !!
–blog for dream–
Hey, I just got found a snippet of info from LiewFC’s comments concerning Public Bank Visa Electron may NOT accept foreign funds into their account:
http://www.liewcf.com/blog/archives/2006/04/transfer-fund-from-maybank2u-to-public-bank-debit-card-ask-lcf/#comment-213287
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vincent Says:
December 9th, 2006 at 2:27 pm
Got this reply from PB customer service today
1. You are not allow to bank in foreign funds in foreign currency to the Visa Electron Card account. The card account only can accept funds in Ringgit Malaysia.
—
I’m keeping my fingers crossed on my Citibank Visa card and hope mine goes through.
Do let us know how it goes Lorna. Thanks. BTW, it appears that the post was written in 2006, I hope they have changed their policy.
It WORKS!
I posted it up on my blog, and have a few words to say about it — I think you’ll find it useful.
Thanks for alerting us in the first place!
Cool!
This person already succesful on withdrawing paypal to public bank Visa Electron.
http://malcolm.mmuzone.com/2007/10/02/withdraw-paypal-funds-to-visa-electron-debit-card/
http://malcolm.mmuzone.com/2007/10/07/paypal-funds-in-my-visa-electron-within-5-days/
so I think this already not correct.
“vincent Says:
December 9th, 2006 at 2:27 pm
Got this reply from PB customer service today
1. You are not allow to bank in foreign funds in foreign currency to the Visa Electron Card account. The card account only can accept funds in Ringgit Malaysia.”
—
Very good news, I was waiting for someone to succeed with PB debit card!
I have succeeded too. paypal money is in my hands now!
I withdrew my fund from PayPal on 04th Oct 07 to one of my Visa’s credit card. It was cleared yesterday. The bank charged RM40+ for the transaction.
Rm40! That’s rather high I might say.
as u said B4 Kay, just 2-3 pu2b posts only
yup. they not accept mastercard anymore for withdrawal. So, use visa only like tunemoney and public bank.