Paypal has added a new withdrawal options for users in Malaysia – straight to your Malaysian bank accounts. Finally, after all these years, this Paypal withdrawal method is available for Malaysians. No more fuss on opening a US bank account, finding the right debit card to withdraw your funds and NO MORE MISERY!
Accepting Paypal payments is a very critical “ingredient” when selling online and on eBay, and this news will certainly “rock” the Malaysian online sellers . When Paypal first opened its doors in Malaysia (back in 2003 or 2004), Malaysians can only withdraw their Paypal funds to a US bank account. So it was a tedious process, not to costly.
Later, in 2007, Paypal allows fund withdrawals to Visa debit cards (and credit cards), but it was still a hassle as there weren’t that many banks that offer a Visa debit card that can be used online.
So finally, October 2009, Paypal withdrawals in Malaysia can finally be made to a Malaysian bank account.
A few technical infos:
- The Paypal withdrawal can be made to the following bank accounts:
- Affin Bank
- Alliance Bank
- Ambank
- Bank Islam Malaysia
- Bank Kerjasama Rakyat (Bank Rakyat)
- Bank Muamalat
- Bank of America
- Bank Simpanan Malaysia (BSN)
- CIMB Bank
- Citibank
- Deutsche Bank
- EON Bank
- Hong Leong Bank
- HSBC Bank Malaysia
- Malayan Banking Berhad (Maybank)
- OCBC Bank
- Public Bank
- RHB Bank
- Standard Chartered Bank
- The Royal Bank of Scotland (RBS)
- United Overseas Bank
the major banks in Malaysia are in Bold
- There is a fee for Paypal wihdrawal to a Malaysia bank account:
- RM3.00 if withdrawal amount is LESS than RM400.00
- FREE if withdrawal amount in MORE than RM400.00
- The money will be deposited in your bank account in 2-3 working days (not including Saturday, Sunday and bank holidays). Much faster & cheaper than withdrawal to Visa debit card (or credit card) which takes 5-7 working days and costs RM20.
- When adding your bank account to Paypal, a MEPS bank routing code is required. No worries, click on the link that says “Details” right next to the blank and a pop-up list of the bank routing code will appear.
With this news, there shouldn’t any more problems with accepting Paypal payments when selling online, for Malaysians especially 
November 3rd, 2009 at 7:34 AM
wonderful news for malaysians wanting to cash out their paypal money.
November 13th, 2009 at 6:41 PM
Follow all instruction and withdraw money on 9-11-09 from paypal to CIMB Bank which it listed major bank but was refunded by paypal on 13-11-09 and have to pay them RM15.00 because can't complete the request. Check with CIMB Bank and they said they is nothing wrong with my account and they don't even have a record that paypal have send the money. So what is the use when you can't even withdraw with all the listed Banks.
November 17th, 2009 at 2:16 PM
@Romina – Double check on your MEPS routing code, and be sure that you've entered CIBBMYKL (for CIMB bank). If error still persists, contact Paypal via email or phone. Hope this helps!
January 8th, 2010 at 10:44 PM
Is there a secret way to add funds in paypal using maybank debit card? Want to purchase an item from a seller but requires funds to be transferred from my paypal account to his.
I get this when I try to add funds into my paypal account
“PayPal does not currently offer the ability to add funds from your bank account.
When you make a payment, PayPal charges the buyer's credit card and instantly credits the seller's PayPal account.”
Thanks!
January 9th, 2010 at 4:17 PM
Zulamran – there is no secret to it really. As stated:
“..When you make a payment, PayPal charges the buyer's credit card and instantly credits the seller's PayPal account…”
You can make the payment without adding the funds first. When payment is made, then only will your card be charged.
If you are unable to make the payment (without adding the funds first), contact Paypal via email or phone. There must be something wrong on their side. Had this problem a while back and it was resolved once I emailed them.
Good Luck!
January 25th, 2010 at 3:16 AM
We malaysian chinese have our surname on the front, eg: Tan Ah Kau as in our malaysian identity card, when we register with paypal it became Ah Kau Tan, can we still receive our money through our malaysian banks? Past few years i have a cheque like this and it is rejected by our malaysian banks, will this be different for online banking?
January 26th, 2010 at 1:26 AM
@Patrick – This is a very good question, and has been a hot topic for years among eBay sellers receiving payments through Paypal. I do not have an answer to this question as it involves bank accounts (strictly P&C), however I would like to suggest that you experiment.. a little try & error.
Try withdrawing a small amount, say around RM3-RM5, and see if it goes through. If it does, then it shouldn't be a problem. Otherwise, you will need to contact Paypal about this problem.
Hope this helps!
January 27th, 2010 at 8:38 PM
Hi there Mr Cuz ,i was wondering is there any charges for the withdrawal from paypal to Maybank Debit Account that below RM400 ,how much it would be ?Would you mind to briefly explain what is the return fees that causes RM15 ??
regards,
singdreams
January 28th, 2010 at 2:25 PM
Howdy singdreams! Thanks for your comment
Here are the charges for Paypal withdrawal for Malaysians:
1) Withdraw to Malaysian bank account (less than RM400) – RM3
2) Withdraw to Malaysian bank account (more than RM400) – Free
3) Withdraw to Malaysian Visa debit/credit card (Maybank Visa Debit Card included) – RM20
As for the return fee of RM15, it will be charged if the corresponding bank rejects your Paypal withdrawal (your bank rejects the Paypal withdrawal). The main cause for this is incorrect bank information i.e. MEPS routing code, account number.
Hope this helps! Let me know if you need further help.
January 28th, 2010 at 2:37 PM
Hi Mr.cuz ,sorry to bother you again,
What is the difference between VISA debit card between Malaysian Banking Account ?
By the way ,my account type is Wadiah Savings Account ,will the paypal charge RM15 for the withdrawal ?
regards,
singdreams
January 30th, 2010 at 9:21 AM
singdreams,
First off, check this image:
http://www.mrcuz.com/wp-content/uploads/2009/10...
There are 2 different withdrawal options, namely:
1) Withdrawal to your bank account (free for amount more than RM400, RM3 for withdrawal less than RM400)
and
2) Withdraw funds to your card – this is what I mean by withdraw to Visa debit card, and it will cost RM20.
If you have a Wadiah savings account (or any other account), Paypal will not charge you RM15 for withdrawal. The RM15 is charged ONLY if the withdrawal is rejected by the bank. So be sure to double check, triple check your information so it's correct to avoid the bank rejecting Paypal's withdrawal.
July 7th, 2010 at 5:23 AM
Hi MrCruz, I have a question, I have a Bank Islam Account and i dont have a debit Credit Card. So if i were to transfer funds to paypal around $10, will bank islam charges any extra commission in my bank account? also, i saw the charges for $10 is minimum for paypal account but RM40 for minimal as well. What does it mean anyway?
July 20th, 2010 at 7:30 AM
Howdy Kubaru! Bank Islam will not charge any fees, but Paypal will. Check Paypal's page for the most current fees charged for Paypal -> bank account transfers.
As for the $10 & RM40 minimum, that is the minimum amount that you can transfer from Paypal to your bank account, depending on the currency that you transfer to the bank.
Hope this helps!