Are you using Paypal? Are you Malaysians? Now our nightmare is over! Used to use the “illegal” to withdraw our money from our Paypal, then we were allowed to withdraw to our Visa credit/debit card, now we can link our bank account to Paypal. It’s so much easier now!
Firstly: Login to your Paypal, click Profile > Add / Edit Bank Account
Secondly: Fill in the needed details such as your name, bank name, bank routing code(swift code) and your bank account number.
You will be charge either no money or RM3.
For example, you withdraw less than RM400, you will be charge RM3. If you withdraw above RM400, then it’s free.
If there is a problem transferring money from your Paypal to your bank account, there will be a charge of RM15.
The following are the Routing Code/Swift Code for various major bank in Malaysia：
AFFIN BANK BERHAD – PHBMMYKL
ALLIANCE BANK MALAYSIA BERHAD – MFBBMYKL
AMBANK BERHAD - ARBKMYKL
BANK ISLAM MALAYSIA BERHAD - BIMBMYKL
BANK KERJASAMA RAKYAT BERHAD - BKRMMYK1
BANK MUAMALAT BERHAD - BMMBMYKL
BANK OF AMERICA - BOFAMY2X
BANK SIMPANAN NASIONAL - BSNAMYK1
CIMB BANK BERHAD - CIBBMYKL
CITIBANK BERHAD - CITIMYKL
DEUSTCHE BANK - DEUTMYKL
EON BANK BERHAD - EOBBMYKL
HONG LEONG BANK BERHAD - HLBBMYKL
HSBC BANK MALAYSIA BERHAD - HBMBMYKL
MALAYAN BANKING BERHAD - MBBEMYKL
OCBC BANK (M) BERHAD - OCBCMYKL
PUBLIC BANK BERHAD - PBBEMYKL
RHB BANK BERHAD - RHBBMYKL
STANDARD CHARTERED BANK MSIA BHD - SCBLMYKX
THE ROYAL BANK OF SCOTLAND BERHAD (RBS) - ABNAMYKL
UNITED OVERSEAS BANK - UOVBMYKL
You can get more SWIFT code here…
You can get your wrinkle cream easily from Malaysia now as you can withdraw your money from your Paypal.
on Oct 30th, 2009 at 9:00 am
hi,
It is good to know this. However, does this post another risk if (i mean if) someone managed to fraud into our paypal. the person can freely send money out from our paypal account, and the money will be debited from our bank account fund. If our bank account have reasonable sum, it will be problem.
I know now this fraud can also happen with the method of withdrawing to credit card, but it is limited to the credit card available credit limit.
Another question is which bank offer better conversion rate? can i say the local bank tend to charge less favourable conversion rate.
When i withdraw into my credit card, i have tried withdraw to 2 different bank credit card accounts. Citibank offer better rate then say Ammbank credit card (MBF). Not sure if you have similar encounter. My paypal is in US dollar. I was just thinking citibank is a US bank, hence the rate between USD and RM is better.
Thanks
on Oct 31st, 2009 at 6:18 pm
Lucas, in fact, if you are in the US, you are also doing the same thing, adding your bank account in and you can withdraw to your bank account.
I’m sure you have to key in the bank account which is yours, if it’s not yours, I’m sure they will detect it and alert you on it. How can someone withdraw a money into some other people account, I’m sure they won’t let it go tru’. The person have to open account in your name, that’s not quite possible unless your identity has been stolen. Still, the risk is there too.
I don’t really bother about linking since I’ve been withdrawing it with no problem with Al-rajhi bank debit card. I see no point to withdraw into credit card.
As for the rate, I don’t see much problem with it. It’s not that low for me.
on Nov 17th, 2009 at 11:29 pm
lovebell, yeah you are right. What i mean is if your paypal is being fraud, so they can make purchases and send money out, and all this from your bank account since it is link.
How does the debit card work? how much they charge per transaction, say if i withdrawal 2000 USD each time.
on Dec 7th, 2009 at 7:01 pm
Lucas, max withdrawal is only USD500 per day and each transaction is charged USD5. In fact it works similar to credit card except you cannot take cash out from credit card but u can take cash out using debit card from the ATM machine or withdraw from the bank.