Finally, a piece of good news for all Malaysia-based Internet Marketers! You are now finally able to withdraw money from Paypal! This must be one of the best piece of news for all Malaysians earning a living in the cyberspace! In fact, many Malaysians have been suffering from the fate of not able to withdraw their earnings from Paypal due to Paypal's restriction. For those who did not know, there is actually a way out before this, ie., by applying a VMI (Virtual Money Inc card)....anyhow, that's history now!
For the official announcement made by Paypal, please click http://pages.ebay.com.sg/sea/paypal/withdraw.html
However, this piece of news have actually created plenty of confusion among Malaysians due to the policies varied among banks! For the matter, not all Malaysian banks offer this withdrawal facility.
First and foremost, do take note that the current withdrawal method is available to Visa® branded credit, debit or prepaid card ONLY. So any card with Master logo is OUT!
As at current, only the following banks entertain such request:
- RHB Bank (7 days)
- CIMB Bank & Southern Bank (12 days)
- Citibank (14 days)
- HSBC Malaysia (6 days)
- United Overseas Bank (12 days) - NO DEBIT VISA ELECTRON
VISA cards that can be used for PayPal withdrawals for now:
1. Al-Rrajhi ATM Debit Card i
2. Public Bank Visa Electron Debit Card
3. UOB ATM with VISA Electron
4. BSN Matix Visa Electron
(source: Geek's Corner)
The Debit cards are:
1. Public Bank Visa Electron Debit Card
2. UOB ATM with VISA Electron
Before you happily go to the bank and withdraw the money, you need to be aware of the following terms and conditions:
- There is USD5.00 Withdrawal Fee charged by Paypal;
- Prevailing Visa + Bank Commission of 2.0% to 2.5% is imposed by the Bank before conversion to Ringgit;
- The whole transaction may takes 7-14 working days to clear;
- There is a maximum amount of $500 a day withdrawal, minimim is $10.
On Paypal perspective, the account must also be a verified or confirmed status.
To transfer the funds to credit card is now made simple by Paypal. Login to your account and click withdrawal. You will then see the option of "transfer funds to your card". That's it!
For more information, please click the following weblogs:
Geek's Corner
Matt's Internet Marketing Blog
2 comments:
If it's too much of a hassle, can ask me to cash it too... *(Subject to Terms and Identification)
And yes..Mastercard is OUT!
Azrin, perhaps you can share with us your other methods of cashing it out, and the T&Cs. Thanks in advance!
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