How Did You Withdraw Your PayPal Funds?

One thing I have been doing is to find ways to make money online. I can say that I have made *some* money online now as my PayPal balance is showing some figures. Not to mention some other funds that is still pending. I am aiming to earn enough to buy myself that Nikon D40x within these two months. I think I am on target. *fingers crossed*

The problem now is how do I withdraw my PayPal funds?

I have searched and found HongKiat’s VMI ATM card method. However, there is a comment written by “Jenny Low” that is scaring me away.

Paypal stated your name must match the beneficiary name in the USA bank. VMI is not under your name. It is under their name. They confirm many people got scammed especially if you have tons of money. Next thing you know, your money is gone.

Is that true? Or is Jenny just a random joker?

There is an alternative — E*trade. I don’t know much about it. I read some where that you will open a real US bank account under your name with it. I did a search on E*trade and found some stock trading website. Damn. Anyone using this?

If you really do not want to apply for neither of the two, you can always get someone to withdraw the money for you. What you do is that you transfer your PayPal fund to them and they transfer RM into your account. Of course, there will be some “charges” in between. How much? I have no idea.

To all money making bloggers:
Have you withdrawn money out from your PayPal before? How do you do it? If you ask someone to cash it out for you, how much is the cost of it?


15 thoughts on “How Did You Withdraw Your PayPal Funds?

  1. decypher says:

    E*Trade has redirected all Asian applicants to the Hong Kong branch therefore it won’t be a US Bank account.

    Whatever you do, don’t apply for Accentcardvisa especially from MK Deals. They suck.

  2. TenthOfMarch says:

    @decypher
    Yeah, I heard about the E*Trade transfer too. So, does that mean applying for it is not an option anymore? Never heard of Accentcardvisa. Thanks for the info! :-)

    @Jason
    Good for you. I am thinking of getting one as well but Jenny’s words are worrying me a little.

  3. Freethinker says:

    I do it with friends or bussiness friends who use international paypal account. I am willing to forgo some “charges” to them as long as it’s not unreasonable.

  4. lilian says:

    I got the VMI but I prefer my ‘kawan’. I don’t mind getting lower in exchange ‘cos this kawan takes care of my money and blog matters. I never have to go to the bank.

    The reason I don’t use the VMI to withdraw is because I heard many people’s PayPal was frozen for a while when they start withdrawing. I have money coming in everyday so I cannot afford any frozen account. Plus I am too lazy to make a trip to the bank to withdraw from the VMI account and put into my own bank. Risky, wei. I damn loaded mah. LOL, just joking.

  5. wong says:

    I tried to apply E*Trade, but now they don’t give US account but HK account, so can’t really work. I heard a lot about VMI card, so don’t dare to apply :P Mostly I take out by selling the fund in lelong lo… Although the rate will be low, but still easy-money la…

  6. TenthOfMarch says:

    @CincauHangus
    Wow, that is very kind of him. Good for you.

    @Freethinker
    Yeah, I believe many people do like this. Thanks for sharing.

    @lilian
    LOL. I don’t think I would dare risk having my PayPal frozen if I were you too. Thanks for your info.

    @wong
    Wah, I don’t dare to trade in lelong or ebay. Don’t know why, I just don’t have confidence in those places. Actually, I am not sure if HK accounts don’t work. From the PayPal page, I checked that HongKong bank accounts can withdraw directly into their local bank, just like a US bank account. So it shouldn’t be a problem.

    @KennyP
    Check the PayPal website. There are a few countries such as US, HK, NZ, etc that can withdraw PayPal funds directly into their local bank accounts. Therefore, if I am not wrong, even if E*Trade has been switched to HK account, you can still withdraw it directly to the bank account.

  7. Pingback: PayPal Accepts Bank Account From 35 Countries | TenthOfMarch.com

  8. Internet Marketing Home Business says:

    Hiya guys,

    Hmmm… so many still in a daze on this. Lemme clear everything up for you.

    VMI Cards
    1) I am a reseller/merchant for VMI cards in M’sia and what Jlow says it’s untrue. Have you asked yourselves what credibility does she has. Where is the link to her website? Where is the prove? Please don’t be so gullible and believe all this nonsense. She obviously a debit card competitor trying to sabotage. And where can we find her? No link whatsoever to prove her case. Just because she says that and you take her word for it against all those who have already happy using VMI cards and with credibility. Geezzz…

    2) PayPal will never “Freeze” your account without reason. The first steps they do is to “limit” your account and NOT get frozen status right away. Only if you cannot prove your details or no reply to them…ONLY then they freeze and then close your account. This does not apply for VMI cards. It applies to ALL paypal accounts.

    3) Why some PayPal account holders gets “limited” or “frozen”? It’s cause of these reasons:
    - paypal details not the same as your bank details
    - some ppl tried to cheat paypal by adding false bank information
    - unexpected and sudden surge of funds coming into your paypal account will raise red flags in paypal system. This is to prevent money laundering and you need to prove as to why you suddenly have large amount of cash into your paypal.
    - not following paypal’s rules, terms and conditions.
    - using US virtual address and then when you get limited when they ask you for utility bills under your name or ID card info which you can’t prove.

    Note: Always provide your real and accurate details when getting your VMI card. Make sure your details are the same as your PayPal account. You will get limited once or twice with paypal no matter what.
    I got limited twice. Once, when i withdrew the money for the first time, got limited and then i prove to them with my phone bill under my name and bank account statement that I’m actually the right person holding that paypal account. Within 3 days my account was active again. All they need is the “right” prove. If you can’t, you will get limited and/or frozen.

    I’m not some name like Jlow with no link and no prove. I know what I’m talking about as I have experience and you can ask ppl about me and also see me on my blog.

    Etrade
    1) decypher is correct. All NEW etrade application has been sent to HK but you can still try to keep sending to US with the hope that your account can be approve in US itself. It’s all about your luck as some of my friends have tried a few times and finally got their account in US.
    2) Mike is correct. To use etrade HK, you need to open a paypal account in HK. M’sian can only withdraw with a US bank account.

    Note: Recently, PayPal has allowed withdrawal of funds to M’sian VISA Credit and/or Debit cards. So no worries. Only worry is that you need to find out our own local banks concerning which card works. That’s all.

    Hope that clears everything up.

    Matt Ng

    Disclaimer: The comment made by me is based on personal experiences and personal opinion. Please consult a professional on these matters.

  9. TenthOfMarch says:

    @Mike
    Yeah, too bad or else it would have been an option. However, we could always try to apply and hope that we get a US bank account though.

    @Matt Ng
    Long and clear explanation. I feel more confident with VMI cards now but since debit cards are already being accepted, I think I will skip the other options. Thanks for your comment again.

  10. Zoe says:

    By comparing withdrawal using debit card in Malaysia to using withdrawal to Singapore savings account then transfer back to a Malaysia savings account, which way is more cost efficient?

    Considering withdrawal to debit card has $5 charges and max limit is only $500, it is not worth it if you have relative big amount to withdraw.

    Anyone knows how much charges to transfer from Singapore savings acc to Malaysia savings account? For ex, using Maybank?

  11. Tino Vegh says:

    I cannot get paypal withdraw either from my country… the only solution would be to open foreign account, but didn’t find reliable bank so far…

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