How to Withdraw PayPal Money to Any Malaysia Bank Accounts?

Filed in: E-commerce Solution, Make Money Online, Malaysia, PayPal, Tips — November 2nd, 2009

PayPalFor Malaysians. Thanks to PayPal support for Malaysian Ringgit (MYR). Now you can withdraw PayPal money directly to any Malaysia local bank accounts!

Read on to find out how to do that.

A bit background…

In 2004, PayPal starts to accept Malaysian registrations. No withdrawal options for Malaysians that time.

3 years later, 2007, PayPal allows Malaysians to withdraw PayPal money to their credit card, debit card, or prepaid cards.

2 years later, in the middle of October 2009, PayPal started to support Malaysia Ringgit currency and updated the user policy (paypal login required).

Shortly after, the end of October 2009, PayPal officially allows PayPal money withdrawal to Malaysia bank accounts! A feature that we have waited for 6 years!

What’s the big deal?

Now, Malaysians can send & receive PayPal money in Malaysia Ringgit (MYR) currency, and withdraw PayPal money to local bank accounts!

Meaning, you can sell your stuff online and let PayPal handle the payment transactions, local or International! It truly opens a new door to Malaysia e-commerce business!

Note: Malaysians still cannot top-up their PayPal accounts from their bank accounts.

How to add Malaysia bank account to PayPal?

  1. Login your PayPal account. Under “My Account” tab, click “Profile” then click “Add/Edit Bank Account“.
  2. At the new page “Add a bank account in Malaysia“. You need to fill in your name, bank name, bank routing code, and your bank account number.

    add malaysia bank account to PayPal

    Updated: Don’t need to worry about the fixed “Surname” in the form. Just make sure your full name is included. The name’s arrangement (Surname Name or Name Surname) doesn’t matter. Click here for more information.

    Tip: click on the “Details” link to find out your bank’s routing code

  3. After you are done, you will be asked to review the details. Click “Add Bank Account” button if everything is correct.
  4. You are done!


How to withdraw PayPal money to Malaysia bank account?

  1. In your PayPal account, click on “Withdraw” under “My Account” tab. Then, click “Withdraw to your bank account” link under the options.

    Note: It will take 2-3 business days to process the PayPal to Bank transaction. Withdrawal over RM400 is free of charge. If less than RM400 is withdrawn, PayPal will charge you RM3.00.

  2. At the new page “Withdraw funds“, enter the amount in USD you want to withdraw and select the destination bank account.

    withdraw paypal money to Malaysia bank account

    Tip: Click on the “Currency converter” link to check the current PayPal currency conversation rate.

    Click on “Continue” button to review your withdrawal information.

  3. At the next page, make sure everything is correct before you click on the “Submit” button.

    PayPal charge RM15 if the funds are returned because your bank information is incorrect or does not match!

    After you clicked on the “Submit” button. Your withdrawal request is pending to process.

  4. Wait 2-3 business day and the PayPal money should be in your selected Malaysia bank account! Cha-ching!

Related books:

My two cents

PayPal is the most popular and most affordable online merchant service in the world. It is secure and safe.

It is FREE to set up a PayPal account to accept online payment (including credit cards). Fees are applied ONLY when you accept a payment.

Now every Malaysians can do e-commerce business at home, in your pajamas!

Click here to sign up your PayPal account, FREE.

Update: I have received PayPal money in my Malaysia bank account. Click here for more information.

Questions about PayPal? Ask in the comment and I shall reply you. :)

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  • http://www.facebook.com/angelineyeohdotcom Angeline Yeoh

    :)

  • leonamanutd

    Hi I notice u put your name as surname..will that be necessary to get a successful transfer? Coz for mine, it's terbalik

  • http://www.finestpixel.com/ Weilian

    What is cha-ching? The sound of the cashier? Surely not earthworm, right Hahaha

  • http://www.liewcf.com LiewCF

    yes, the sound of cashier. :)

  • http://www.donnyien.com/ donnyien

    hi bro,thank you for this useful info.now using paypal is more easier than b4.

  • http://tinyurl.com/kshopping knista

    Thanks for sharing this tips, nowdays many malaysian are active with paypal-payment stuff such as ebay, pay-per post and affiliates program. hope this new facilities may come up more convenient for malaysians to do home biz

  • popoyan

    wow, what a hot topic for this few days. so many people talk about this topic recently. But this is really a good news to all Malaysian Internet Entrepreneur.

  • http://mousybot.magdl.com/ Louis

    Hmm anyone tried withdrawing yet? I withdraw from my paypal and the status is now complete. However there is no money in my Maybank yet >.<.
    Does it takes awhile after the complete sign?

  • http://www.liewcf.com LiewCF

    I am waiting for the withdrawal transaction to be completed.. will update you soon :)

  • Goh

    Hi Liew,

    Hey, that's really a good news! I didn't know about it until I came to your blog today. Thanks for posting this.

  • http://mousybot.magdl.com/ Louis

    haha mine in paypal status already complete. However the money is still not in my Bank yet >.< Paypal say it takes a week for the bank to notify them if they reject the withdrawal.

  • http://twitter.com/lulai lucia

    can liew or anyone answer the question by leonamanutd cause i like to know that too (but terbalik for me). i try to try like what you did, liew. my name (CY) under 'surname' then my surname (lai) under 'first name' so that it can turn out right like my bank account name 'lai c.y.' but then i notice that paypal automatically put my surname under 'surname' already so no matter what it turned out to be 'c.y lai' not same as my bank account name. like that dunno if the money from paypal can go in my bank account or not.

  • http://mousybot.magdl.com/ Louis

    if your surname is correct then it should be ok even the surname is at the back.
    You name is usually typed like this.
    C.Y, Lai
    :) So it won't matter >.<
    But its still an assumption and pray that the BANK's auth isn't that blur.
    I submitted my withdrawal with just partial of my name as I can't write much for my first name as I have a middle name.

  • http://www.liewcf.com LiewCF

    according to my AdSense cheque experience, the surname is at the front or back does not matter. The bank still recognize it as correct full name format.

  • http://mousybot.magdl.com/ Louis

    now i am worried about mine >.< coz i only submit partial as my surname is in the middle >.<

  • http://mousybot.magdl.com/ Louis

    :) Hei all
    I got my fund already today.
    I request on the 2th Nov and got it today (4th Nov)
    And I have only written partial of my name as well.
    First and Last name >.< my middle chinese name is excluded..
    :) So it really does take 3 working days >.<
    ~,~ Ciao~

  • http://www.liewcf.com LiewCF

    cool! thanks for the update :)

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  • singdreams

    How to create a paypal account ?I'm a studenet and i have only Maybank Debit card ,is this eligible for the requirement ?What i heard from my friend was Paypal account holder must have a credit card , :unsure: therefore i am here to seek your oppinion
    Looking forwards to your reply ,Thanks for viewing !

  • http://blog.ytechcity.com/ YTechCity

    It's really a good news to all Malaysian Internet Entrepreneur. We now can easily withdraw the money, great post!

  • http://weiyu.la/ 围鱼啦

    withdrawal fees is RM3? Then is is cheaper then withdrawal through Debit Card, which is USD5?

  • http://weiyu.la/ 围鱼啦

    withdrawal fees is RM3? Then is is cheaper then withdrawal through Debit Card, which is USD5?

  • http://www.liewcf.com LiewCF

    yes, it is cheaper. If you withdraw more than RM400, then it is FREE.

  • http://mousybot.magdl.com/ Louis

    I am also a student with maybank visa debit :) Paypal will works fine as you can link them together. You just need to activate maybank visa debit online transaction in Maybank2u.

  • http://www.liewcf.com LiewCF

    anyone can register PayPal account for free. SImply goto https://www.paypal.com/my/cgi-bin/webscr?cmd=_r… to get yours.

    You can add Maybank Debit Card to your PayPal account. Credit card is NOT required.

  • http://www.liewcf.com LiewCF

    received my PayPal money. The surname in front or back, does not matter. :)

  • http://weiyu.la/ 围鱼啦

    weird, I didn't receive your reply notification email. What went wrong?

  • http://www.liewcf.com LiewCF

    what's the problem?

  • chris

    any idea what's the max amount per withdrawal that we can make? no longer USD500?

  • http://www.liewcf.com LiewCF

    unlike withdraw funds to card, there is no max amount per withdrawal for PayPal-to-Bank

  • http://www.webshaper.com.my/ Adrian Oh

    Hopefully this will spur up the ecommerce activities locally. :)

  • http://www.moneygrows.net/ moneygrows

    whats the exchange rate / bank fees / paypal fees like for withdrawing to bank acc or debit card? Which is better?

  • http://www.liewcf.com LiewCF

    The exchange rate changed everyday. PayPal will show the rate when you do
    the withdrawal transaction, you can compare the rate with the bank's rate.

  • http://www.moneygrows.net/ moneygrows

    ok, i understand that part, but what about the bank fees? Which is cheaper, bank acc or debit card?

  • http://www.liewcf.com LiewCF

    withdraw to debit card charge RM20.
    withdraw to bank account is RM0 (withdraw more than RM400). Neither PayPal
    nor Bank will charge you for a fee.

  • http://www.moneygrows.net/ moneygrows

    i thought theres fee on the bank side, like doing TT or wire transfer.. If youre really sure about this, im gonna withdraw mine real quick then! :D

  • http://www.liewcf.com LiewCF

    Yes, I am sure and did it. See here.

  • http://technologystolen.blogspot.com/2009/11/withdrawdirect-transfer-your-paypal.html Shah

    Hi LiewCF,

    I also made a post about this.

    Paypal has make it easier for us in Malaysia. Direct bank transfer, no more buying this debit card. Please read on my link for more details.

    Check out my details post with picture below. Thanks

    http://technologystolen.blogspot.com/2009/11/wi…

    Shah

  • http://www.ervinter.com ervinter

    This is great. Being waiting this for long long time. Thanks Liew

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  • vikki

    hi Liew,

    this is vikki here, have some problem with Paypal to receive payment..=( but dont know how to solve it..

    at first i register my credit card for Paypal account, i start enojoyt shopping online… recently i start selling something online… and happy to get my first client form USA,
    but who know i can not receive payment from her, she said message showing ” uncliam” , credit card can not receive payment? my card is under EON bank one…

    hope you teach abit more…

    thanks & Regards,
    vikki

  • http://www.liewcf.com LiewCF

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