PayPal, a subsidiary of eBay Inc, has expanded its services in Malaysia with the introduction of support for payments in Malaysian ringgit and a new bank withdrawal feature that enables members to transfer money from their PayPal account directly to a Malaysian bank account. Yes, directly to your saving account – no need to go through the hassle of applying for Visa Debit Card or opening an account outside Malaysia like previously.

The two new services give Malaysian buyers and sellers the option to pay and get paid in local currency for their domestic transactions, as well as Malaysian sellers to gain fast and convenient access to their funds, ultimately making e-commerce even easier.

“The introduction of our bank withdrawal service will help ease the pain for Malaysian PayPal sellers and is just one of the testaments to the investment we are deploying across Asia as well as our commitment to bring innovative, safer and more convenient solutions to Malaysia…. We are happy PayPal has introduced bank withdrawal and ringgit options for customers in Malaysia as it will enable us to have better cashflow while improving convenience for our daily transactions” PayPal Southeast Asia and India General Manager Mario Shiliashki said.

To add your bank account, simply follow the steps below:

1. Log-in to your paypal account
2. Click “Withdrawal” [See picture below]

3. Click “Withdraw To Your Bank Account” [See picture below]. Note: If you wish to withdraw your earning using debit card, choose “Withdraw funds to your card”.

4. Fill up all your particulars. Click “Details” if you not sure what is your bank’s MEPS Bank Routing Code. [See picture below]. There are plenty of banks that you can choose from: Maybank, HSBC, Affin Bank, Public Bank, etc. Click “Continue” once you’re done. Make sure all informations are correct as Paypal will charge fees for any funds return because of your bank informations are incorrect.

5. Review you informations. [See picture below]. Click “Add Bank Account” and you are done.

6. If you already have funds in your paypal account, you may withdraw it to your bank account immediatley. [See picture below]. Please allow 2 to 3 days for fund transfer. You will be charged RM 3.00 for withdrawing funds not exceeding RM 400. If you withdraw more than RM 400, Paypal won’t charge you  it’ a single cents. It’s FREE!.

Note: Make sure you apply for business account in order to use this service (withdrawal).

- Passionate About Blogging

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