How to Withdraw PayPal Money to Any Malaysia Bank Accounts?

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!

Read moreHow to Withdraw PayPal Money to Any Malaysia Bank Accounts?

PayPal Replies to Malaysia Member

After I posted “PayPal Accept Malaysian“, many users found that eventhough they can send fund into their account but they are unable to withdraw money from PayPal account.

Many asked, “How to withdraw money?”. For the question, I send an email to PayPal and got their reply.

Read morePayPal Replies to Malaysia Member

PayPal Accepts Malaysians Now!

Update (Nov 2009): Now you can withdraw PayPal money to any Malaysia bank accounts. Click here for more information.

The popular online fund transfer system – PayPal begins to accept Malaysia registerations, finally. :grin:

PayPal is free and easy to use online fund transfer system. You can easily set up it to accept online credit card payments at your website! It is great for personal and small business.

Due to the high rate of credit card frauds in Malaysia, PayPal was banning Malaysians from register/use its services. It was a great loss for Malaysia webmasters!

Without PayPal, Malaysia webmasters must register an online fund processing account like 2CheckOut or PaySystems. The minimum registeration fee is US$45(RM171), compare to US$0(free) registeration of PayPal.

Luckily, PayPal starts accept Malaysians registeration. I register an account immediately after I got the news. Guess what, LcF Weblog starts accept online donation now! ;)

My two cents

PayPal opens its door to Malaysians is definately a good news. It will boost the e-commerce of the country, I believe.

With open source shopping cart and PayPal, any shop can sell their products online now and the cost is FREE!

Updates: There are other sound about PayPal at http://www.paypalsucks.com

Updates (9 June): Some users told me that they can register PayPal account, but cannot add their credit card information.

Seems like PayPal open registeration to Malaysians BUT still reject Malaysia credit cards. :sad:

Updates (20 June): PayPal has already accepting Malaysia credit cards! Cheers!

Update (Nov 2009): Now you can withdraw PayPal money to any Malaysia bank accounts. Click here for more information.