No more Accent card, no more VMI and so on… You can now use your own credit card, dedit card that you got from local banks to withdraw to your Paypal now!
Anyone noticed that Malaysian can withdraw their PayPal to their card now. I know many Malaysians have fund inside their PayPal account but don’t know how to withdraw since Malaysians need to open US Bank Account if they want to withdraw their fund.
I had just tested it with my fund just now. It takes 5-7 Business Days and I’m charge with USD5 per transaction.
When you click “Transfer funds to your card”, you will go into a page called “Withdraw Funds to your Card”. Withdrawals to your card must meet the minimum withdrawal amount which is USD10, depending on the currency. If you are withdrawing to a prepaid card, the amount that you can withdraw might be different from your PayPal account withdrawal limit.
For first time withdrawal, you need to add your card details. Debit Cards (Check Card, ATM Cards or Banking Cards) are accepted if they have a Visa or MasterCard Logo. I tested with my Alrajhi Bank Visa Debit Card.
By the way, the maximum withdrawal amount is USD500 per day.
After all these, I got this reply from Paypal:
Dear CHIN SK, Your request to withdraw funds from your PayPal account to your card ending in xxxx has been received and is in process. PayPal completes this transfer in 5-7 days, but your card issuer’s policies may affect the processing time. For more information, contact your card issuer.
We’ll see by then 
Next time I’ll test with my credit card. Stay tuned!
I’m sure many moomy bloggers are very delighted with the news as they can now use the extra money they got from blogging to buy some baby clothes for they babies.
on Sep 29th, 2007 at 8:21 pm
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on Sep 30th, 2007 at 12:24 pm
[...] you can read more about wihtdrawing you Paypal fund with Alrajhi Bank Visa Debit Card in Money Money [...]
on Sep 30th, 2007 at 2:52 pm
[...] Ok… It’s spreading like wild fire now that the news of Malaysians can withdraw their funds with their debit or credit cards with Visa or Mastercard logo. [...]
on Sep 30th, 2007 at 8:25 pm
[...] Let’s the the latest update of withdrwal paypal fund with Alrajhi Bank Visa Debit Card. I chekched my Paypal account and the status is changed to [...]
on Oct 2nd, 2007 at 7:40 pm
[...] tip: jimmychin, Wayne Liew, KennyP, Rammel Firdaus, Zaiful Zin, and [...]
on Oct 3rd, 2007 at 12:52 pm
i have a question here. When we withdraw fund from paypal by using our local bank debit/credit card, may i know that what is exchange rate from USD - RM? It will follow local bank exchange currency or? If we withdraw money from Local ATM machine by using credit/debit card, is any extra charges? or can we tranfer fund directly from credit/debit card to saving account? Please help to clear my doubt here.
on Oct 3rd, 2007 at 6:11 pm
Kenny, we have no way to know the exchange rate yet. As we haven’t get our money yet. We will have a detailed post about it when we got our money. It is advisable not to withdraw with your credit card, no point at all, there is no bank account at all for credit card, you can only take the money out using cash advance which is a stupid way to do so as you will be charged with many other misc. charges of the credit card.
Debit card is the best as the money will go into your debit card as debit card is different from credit card. If you want to take it out via ATM with your debit card, it might be like how you normally withdraw your money with ATM card or there will be charges(not sure yet), at least debit card is when you use it, they will deduct your bank account and u are not owing the bank like credit card. We haven’t reach this stage yet so we don’t know what’s the exchange rate will be and what are the charges.
Basically, we still can’t clear your doubt yet but can only tell you that withdrawing to credit card is stupid.
Please do follow this blog if you want to know more as we will update once we have the latest update. In fact we have a part 2 already, if you have seen it I’m sure you will know that we can’t answer your question yet.
on Oct 26th, 2007 at 10:45 am
[...] How can that be, that’s really unfair! We are the first in Malaysia to withdraw with it(obviously as we are the first that tested with it) but we didn’t get the money! We [...]
on Oct 31st, 2007 at 10:31 am
[...] just received call from Al Rajhi Bank about my PayPal withdrawal on 28th September 2007. After one month of “Processing”, they credited my USD57 into my Al Rajhi Bank Current [...]