PayPal announced new funds withdrawal functionality to withdraw PayPal money to credit card, debit card, or prepaid cards in 26 countries. The process only takes 3 easy steps.
Image: withdraw paypal funds to credit card
The new feature is great for PayPal members in the countries where previously can send money but had limited ways to receive or withdraw money. Example: Previously, Malaysian PayPal members can only send or receive PayPal funds but no official way to withdraw the funds. Now, they can withdraw their funds to their card.
The new functionality is available in: Argentina, Brazil, Bulgaria, Chile, Cyprus, Estonia, Gibraltar, Iceland, Indonesia, India, Israel, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malaysia, Malta, Philippines, Romania, San Marino, Slovakia, Slovenia, Turkey, UAE, and Uruguay.
Check PayPal Offerings Worldwide for updates.
Withdraw PayPal funds to your card
Before you can withdraw PayPal funds to your card, you need to add a valid debit, credit card or prepaid card to your account.
The PayPal website stated that you can withdraw PayPal funds to both Visa and MasterCard cards but the official blog stated that the new withdrawal function is only available to Visa-branded cards. But I believe MasterCard cards will be supported soon.
Each withdrawal cost $5 USD. Minimum withdrawal amount is $10 USD (check other currency limits). Maximum withdrawal amount per day is $500 USD. The processing time takes 5-7 business days.
My two cents
This is a great news for those “PayPal Limited Functionality Countries” such as Malaysia. We have waited for this for years! Ever since PayPal started accepting Malaysian registrations in 2004, PayPal funds withdrawal was a feature we always asked for.
Malaysians local PayPal funds withdrawal functionality was promised in the Ebay Explained 2006. I am glad that they cashed their promise now.