Latest Breaking news! Here’s the latest update on PayPal Supporting Malaysian Ringgit (MYR), now, the final piece of the puzzle is finally completed. You can officially link up your PayPal Account to a Malaysia Banks (or Overseas banks operating in Malaysia, basically via the MEPS network).

More info/tutorial here: http://www.webshaper.com.my/blog/index.php...a-bank-account/

Yea. I just got this news from one of my connection as well.
Good to here that update from PayPal.

Bad news for those paypal credit traders at LYN

why bad news, dun get u?

Because he think no one will trade (exchange) with them again.

Yea. Exchanging still have some risk.
Since PayPal had introduced this method of depositing and withdrawing, it got much easier, risk-free and convenient.

But there are still exchanger who exchange PayPal credits much cheaper than the exact price. So, I think there might still be customer for PayPal exchanger.

This is definitely good news! No need to transfer money to my debit card anymore.

i hope there is no fees like US bank transfer.

It is free when you're withdrawing more than 400 MYR.
For withdrawal for less than 400 MYR, there will be a small fee of 3 MYR. I think everyone can afford it.


PayPal Withdrawal Fees (Malaysia)

Good to know about this. So this means we don't have to have an extra credit card right to do our online transaction. Yahoo! Thanks for the info

WOAH!! I'm sooo happy to hear tis!!! Thanx for bringging tis latest info!

what are the exchange rates?

lyn paypal fund traders offers much cheaper rates than the official paypal exchange rates.

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Added on October 29, 2009, 12:00 pmand wadafak does the rm15.00 return fee means?

This post has been edited by Deimos Tel`Arin: Oct 29 2009, 12:00 PM

this is the best news for today. thanks for sharing.

good la..

i was a scam victim of paypal in LYN... i bought $1000 from kcooi and he raise dispute in paypal 1 week later and paypal refund the $1000 to him and now my balance negative... with this, i will be safe from these scammers

You should able to prove your paypal fund purchasing from him.

this kcooi is old member or new? what year registered?

good stuff TS! Appreciated the information.. transaction via paypal makes easier now

This is absolutely good news... + thanks for notifications.

This post has been edited by pengiranijam: Oct 29 2009, 05:31 PM

Return fee means, when you request a withdrawal but your bank denies the deposit to your bank account and returning the funds to PayPal, that's what return fee come in hand.

So, if you request withdrawal of RM 500 and your bank denies the funds then you will not get back RM 500 to your PayPal balance.
Instead, it will be RM 500 - RM 15 = RM 485.

Wow...I just noticed it that paypal have implement this feature.

But there was something bothered me about this feature.

Since my paypal name is not written similar to my bank account...am I screwed up at here?

For example :

My paypal registered name : Ali Bakar
My bank account name : Ali Bakar Abu Nyoya.

Get what am I trying to mean here?

Yes. That might be one of the factor.

This post has been edited by josephting: Oct 29 2009, 08:13 PM

still cheaper then the previous method -VISA card one

withdraw any amount also kena USD5

Walao. A very good news indeed. Can take out money when USD is up again.

Yea. That's a very good news to Malaysian.
No more excuses that don't want to use PayPal, PayPal expensive or some other reasons...

I'm still a bit scared about linking a bank account to Paypal.
As of now we can withdraw direct to MY bank a/c.

Can the opposite also happen? Bank account funds transfer direct to paypal?
If yes, then I'd be uncomfortable about the thought of Paypal having such access to my saving A/C.

LoL... No one can withdraw money from your bank account without verification.
You add those bank information is to let PayPal deposit to your bank account. Not withdrawal.
It's kinda odd to have someone thinking like this?

lol, pp will never can have such access to your saving acc. all need authorization to withdraw/transfer. even in US bank acc.

LOL, if that can work, I would love to link my paypal to any trader at LYN, and withdraw the money LOL

i think there still processing fee not 100% free

Well of course I know Paypal recently allow us to withdraw to local bank account.
What I wanted to know was, would Paypal use the bank a/c as a funding source as well?

well i just found out myself luckily no, according to paypal https://www.paypal.com/my/cgi-bin/webscr?cm...onality-outside

Yes. That's right. Only US Banks (maybe Singapore is allowed also? Not sure ) are allowed to add funds to PayPal.
Just add credit/debit card to your PayPal account and you're free to pay using your PayPal account.
As long as your cards are valid.

This post has been edited by josephting: Oct 31 2009, 09:58 PM

does that mean we only can withdraw from bank but add fund by using debit and cc only? I wish they implement using bank transfer to add fund too. I'm canceling my CC already.

LoL... I've never tried it yet. You can try to figure out if it's possible or not if you want.

From what I can see on PayPal's site, there isn't any information on adding funds via bank accounts. Only withdrawing.

Adding funds, only cards are allowed.

Do we have to update our profile at Paypal if we want to withdraw the money from paypal to our bank account?

You just need to add your bank account. I think...

i think just make sure correct info for adding bank...

incorrect info will charge you 15myr

Tried add fund. currently unavailable for add fund from bank. You only require to enter correct MEPS bank code and your bank acc no. The your name must match with bank acc.

oh ya, same to me. my blog also got teach how to get those money out from paypal to local bank and also swift code~ who need swift code go my blog alright =D

hmm if all is well, we can add funds when exchange rate is low and withdraw funds when exchange rate is high to make some profit?

smart !! seriously !!! LOL

but, hard also la.

say exchange rate is now

1.00 USD = 3.42 MYR

when it bkums

1.00 USD = 3.52 MYR
(dunno wait how long)


buy 1 usd = untung 0.10 ringgit
buy 10 usd = untung 1 ringgit
buy 100 usd = untung 10 ringgit
buy 1000 usd = untung 100 ringgit :


cannot la.

seriously need to wait very long... and the worst thing is when u buy 3.42, after 3 month later, it drop till 3.32... and after 3 month , raise back 3.42...

finish halfyear, still earn nothing...

correct. that's why not worth it. sell condoms can profit much faster, low capital also.

Some info from others who has try withdrawing money from Paypal to Maybank:






No charge if you withdraw more than RM 400.

1usd = 3.32 ringgit ?

wow the exchange rate is horrible.

http://www.xe.com/ucc/convert.cgi?Amount=1...20&image=Submit

1 USD = 3.42490 MYR

This post has been edited by Deimos Tel`Arin: Nov 5 2009, 12:28 PM

ya lor..what about visa withdrawal? same rate?

and what the duration for the fund to be cleared on local bank?

VISA usually will follow the international rate, and it suck USD5/transaction, and max is 500USD cash out ony (actual is 495USD after get suck 5USD)

I am planning to cash out 500USD to my bank, any one want to cash out at VISA at the same time? let see what the different after the end...

Update:

star news paper rate show 3.38, but the cash out rate show 3.33

each dollar bank suck 0.05cent... no wonder bank willing to take this service

This post has been edited by calvynlee: Nov 5 2009, 10:00 PM

I've just requested to withdraw my money from Paypal. They said should get around 12th. Maybe you should try and transfer to your debit card and lets see which one is faster.
Also the rate is $1-RM3.32
Emm...

I suspect Paypal uses a lousy exchange rate which is really unfavourable to us.

I have withdraw 500 to debit card, as well as 500 to my bank at the same nite..

let see which one come 1st, and which one have a better deal

For withdrawal not sure. For injecting funds, its the credit card issuer problem because its all in USD.

Well my paypal says that its completed but its not at my m2u yet. They did mentioned will get before 12th. emm..


p/s- oh, and yeah, the rate sucks big time but better than having a fee %

This post has been edited by wussadotcom: Nov 7 2009, 12:23 AM

Ya. I agree.
Poor rate is better than paying fees.

muahahahaa..y a lohhhh..

i think if u change money got fee charged rite?

my withdrawal went well. Now don't know what to do with my debit card.

Haha... Nice one. Wait them to get expired.
But it may come in handy when some site that's not receiving PayPal and have their own shopping cart system or checkout system.

Dang!! Paypal is high class money changer...they make tons of money with conversion of currency.

Well. You have any idea to process transaction other than PayPal?
There are several other payment processors but who wouldn't go for PayPal since it's the biggest?

Ok, the money was received to day. Seems like Paypal took around 2-3 days to process and Maybank took around 3 days to process.

So which one is more *untung* for us? Withdraw to Card or Bank Account?

[attachmentid=1331734]
hello guys,
i want to ask..what the 'checking account' means? see the picture above. does it mean paypal still verifying my bank account number?....

This post has been edited by PootieTang_85: Dec 1 2009, 10:49 AM

hello guys, I'm need to fax some documents to Paypal, the provided fax no is 65-6510-4950, so how should I dial? Do I need to add in country code in front of the no? b'cause I try and it failed.

^No need to fax. Just scan the document and send it upload it via the Resolution Centre...or email it.

Thanks

No, they are not verifying anything....
Checking Account = Savings Account

This post has been edited by ibnuasad: Dec 2 2009, 10:46 AM

okay thanks...

It is make our life very easy !

Yup...Going to try again in a few days. The last time I tried with Al-Rajhi, it got rejected....

wat is the rate maybank?

Anyone tried with Bank Islam? Why no one start a thread about successful withdraw, so that people can learn more. I see there are some people who can't withdraw successfully. Which is the safest bank to use?

okay guys i need help.. this paypal thing is soo frustrating.. ive upgraded my account from personal to premiere, my debit card is verified. i tried to purchase something about 85usd.. my acount still got rm400 plus.. i cant bu!
y?
this message always pops out:
You have exceeded your per transaction limit. To lift this limit, click View Limits on you Account Overview page.

and i don find any link "View Limits" on my account overview page... how?
*

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Added on December 14, 2009, 1:50 pmbtw, we cant add funds to paypal?

This post has been edited by Michaelbyz23: Dec 14 2009, 01:50 PM

Beside of paypal ,any other platform that provide higher currency exchange rate?

erm.. wat u mean o..

I mean if there any other platform like moneybook is better than paypal ?The currency exchange ..As you see ,the picture above shown ,1 USD =3.32497 MYR while XE shows 1USD -3.40850MYR

yahoo...

teach me how to use paypal T.T

It's so easy to use ?Just figure out ,i got link for you at my siggy

i already pressed.. i got a question on top... i cant pay money.

I don't get what you mean ,you better pm me your msn ,don't spam at here =]

okay, i send u pm edi

Bank Islam cannot use! Wasted my 15rm....

Maybe in the future they will collaborate with the Bank Islamd

I use maybank and public bank.. without any problem

May I know which account i must open for Maybank? There are so many accounts as seen in their website, which is suitable for Paypal?

Wadiah Savings Account ,just for withdrawing and Maybank2u.com. ...very easy transaction ...

Al Rajhi Debit Card doesn't work with Paypal. Tried it so many times. My suggestion is get a Maybank Debit card instead. Seamless activation however you need to activate it through Maybank2u in order for it to be used online.

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Added on December 30, 2009, 5:15 pmYou cant add funds to paypal.

Here is how you should do. Go to the website that you wish to purchase the goods - e.g. ebay and pay it through paypal. Paypal will deduct the amount through your CC immediately. Adding funds is not allowed - some how.

This post has been edited by yewjin: Dec 30 2009, 05:15 PM

woww.. thanks for the info..! i only know about this now..

bring up the nice thread hehe.. i am kept try on public bank too