Over the weekend, I have read a few posts that reported PayPal allowing Malaysians to withdraw their PayPal funds into selected credit/debit cards. This is great news to me since I am deciding on a way to withdraw my funds within the next two months.
This change was reflected in PayPal’s Payments (Sending, Receiving, and Withdrawals) Policy (modified on 30/8/2007). In section V. Withdrawals #0, it reads:
Original Credit Withdraw. Users in Italy, India, Luxembourg, Israel, Malaysia, Argentina, Philippines, Turkey, Brazil, Lithuania, Bulgaria, Indonesia, Uruguay, San Marino, Slovakia, Latvia, Chile, Romania, Cyprus, Slovenia, United Arab Emirates, Estonia, Malta, Gibraltar, Liechtenstein and Iceland may withdraw funds from the PayPal system to their valid credit or debit card in the form of a credit to the card on file with PayPal.
Therefore, apart from Malaysia, the other countries that were mentioned are allowed to withdraw their PayPal funds through a credit/debit card as well.
It was reported that some credit/debit cards do not allow such transactions from PayPal. The AmBank NextG debit card is one of those that can’t be used for this transfer. I have an AmBank credit card. I wonder if mine will work. I guess I either have to just give it a try or phone up AmBank service centre to ask.
I read from a forum post that someone called up their credit card company and was advised:
1. If you got credit card balance, amount transferred from PayPal will be knock-off with that credit balance
2. If the credit card balance is zero or less than the amount transferred from PayPal, you are not advise to withdraw at the ATM. It will be considered as cash advance withdrawal and subject to charges eventhough the credit card amount is already debit balance
3. What you can do is to give an instruction to the credit card issuer to transfer that debit balance amount to your saving or current account (clear in 5 working days) with no charge
This is great news to all of us but is also creating a lot of confusions. I won’t go rushing in withdrawing my funds just yet. No point being overcharged or risk any penalty from PayPal.
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@decypher
LOL. Thanks for pointing it out.
Hello my name is Tingting, I will be happy to assist you with your
question regarding your PayPal account.
We apologize for the delay in responding to your service request.
Yes, Malaysian Verified PayPal account could withdraw fund to credit card now, but it is just available for Visa credit card at this time. If you want to withdraw fund to your credit card, please add a Visa credit card to your PayPal account and complete Expanded Use Process.
We appreciate your patience and understanding regarding this matter, and wish you continued success on PayPal.
Sincerely,
Tingting
PayPal, an eBay Company
- ZooL
@datohead
Are you from PayPal?
Thanks for your info. Is it a must for PayPal users to join the expanded use program before they can withdraw to their credit card? Only Visa? I thought I read that they accept Master cards as well?
I have spent sometimes (in fact more than 3 hours) just complied the list from varies bloggers experiences on PayPal withdrawal.
The summary list will be able to help you and your readers know the big picture on which are the cards able to withdraw PayPal fund.
Please let me know if any updates you like to contribute and I hope you will be benefits it.
Check out the full post from my blog (click on my name above).
Thank you.
@Steven Wong
That is a good list. I have always wondered which cards would work and which won’t.
to all, whoever wants to open an account with al-rajhi bank (in order to obtain the debit-atm card, kindly drop me an email at muhammad-hafez.musa@alrajhibank.com.my
i’m not sure what is paypal actually, but most of the customer who came to open an account (in order to obtain al-rajhi debit card) says it is for the usage of paypal. using al-rajhi card it works to their needs.
i try my best to assist u better, maybe u dont even have to come to the bank to open an account
i’m working with al-rajhi bank frontline as well.
I appreciate the resource material. Very nicely done.