It was exactly 2 years ago (Oct 15) when PayPal allow Malaysian users to withdraw to their debit cards. Since then, there are so many people are looking for ways to withdraw their fund via various local banks’ Visa debit card. Some of the Visa debt cards allow:
Today I login to my Paypal account and saw this Paypal policy update notice and when I click on it, I am really surprise to see that they finally allow we as Malaysian to withdraw fund into our local banks. This is what I read on:
When I tried to see my account has the withdrawal to local bank option, and I end up disappointing. I don’t know whether it wasn’t available to me or Paypal hasn’t make changes to their website yet. You may want to check your Paypal account is see if you have the withdrawal option available.
That means it might only available for certain customers. I am not sure what it means above, but I can confirmed that my account still don’t have the local bank withdrawal button, not even in add bank column.
One good move is Paypal is incorporated Malaysian Ringgit as one of the major currencies in Paypal.
That’s mean you can do business in Malaysian Ringgit if you want to. This is after Paypal make specific changes to the user agreement as required by BNM.
In addition, for Malaysian resident customers, PayPal has made specific modifications to the User Agreement as required by Bank Negara Malaysia regarding your rights as consumers in Malaysia accessing the PayPal services.
Certainly this is a good move, I will monitoring my Paypal account in next few days and see if the local bank withdrawal option is available for me.Stay tune for more review on Paypal withdrawal option.
Updates From Reader:
It is confirm by the Paypal staff that we are going to enjoy the local bank withdrawal service, here is what Polarmanz posted here on the same day:
Guys … should we celebrate ???