Paypal Malaysia
PayPal has extended their services to Malaysia which saw the introduction of 2 new features that allows transaction to be done in local currency & direct Paypal balance withdrawal into local bank account.
This is definitely a good news for every Paypal users in Malaysia as they can save up a significant amount of money if they choose to withdraw money directly to Malaysia bank account. Unlike credit cards, there’s no additional charges to withdraw Paypal balance into bank account if the withdrawal amount is more than RM400.
If you are thinking of opening a Paypal account but have no idea on how to apply, here’s an easy guide on how to get started.
Open a new Paypal account
1. Type in Paypal.com in your browser’s address bar.
2. Once you reach there, click on the sign up link right at the bottom of the sign in form on the top left corner.
3. Choose from either one of the 3 options available:
Personal, Premium & Business.
**Personal account is for individuals who shop online, premier account is for individuals who buy and sell online, while business is for merchants who use a company or group name.**
4. Type in your personal information & choose to link your credit card (If you have one) with your Paypal account.
5. Done! You have just opened your Paypal account.
** Once you have typed in your credit card number, you will be charged 1.95USD. In your credit card statement, there will be a verification code which you will need to key in to verify your credit card & the charges will be refund to you soon. **
What are the charges for online transaction?
| Online purchases | Personal payments | ||
| Pay | Get paid | Send money | Receive money |
| Free | 2.4% to 3.4% + RM2.00 MYR | Free when you use your PayPal balance
3.4% + RM2.00 MYR for credit card payments (either the sender or recipient can pay this fee). |
|
FAQ
What if I don’t have a credit card? Can I use debit card?
- Yes you can, as long as those cards have Visa or Mastercard logo on it
What is the minimum withdrawal amount?
- RM40.00
What is the bank withdrawal free?
- If RM400.00 MYR or more is withdrawn, you will NOT be charged.
- If less than RM400.00 MYR is withdrawn, you WILL be charged RM3.00
- Return Fee = RM15
What is the credit card withdrawal free?
Withdrawal Fee – 5.00 USD
Minimum Withdrawal Amount – 10.00 USD
Return Fee – 10.00 USD
** If the information in your withdrawal request is incomplete or incorrect, PayPal will return the withdrawal amount to your PayPal account and charge a return fee (RM15). Your card issuer might charge additional fees. **
is paypal really that trustable in malaysia? theres so many fraud nowadays..
Dont worry, even Ebay is using Paypal as one of the payment method
hi edward..
i hv a ques..i wanted 2 send money via paypal. why does it says “This transaction exceeds your remaining sending limit. Please link and confirm a debit or credit card to lift this limit.”?? i noticed at the amount tab it states “Sending Limit: RM4,000.00 MYR”..i want 2 send only rm1k..i’m a bit confused here.
thanks..
You will have to activate your account by typing in the unique code that was given to you when you received your bank statement during the end of the month (Code can be found beside the Paypal transaction)
If I want to deposit money into my paypal(I have no bank acc), is it possible?
No, you are not allowed to do so, Paypal doesnt allow funding
Take note that the currency exchange rate may not be favorable for users. Don’t be surprised about this important point. Users may not be happy with the Ringgit Malaysia cash on hand after conversion from US Dollars during withdrawal to your local bank.
Regards,
Alexander
hye, i wud like to know more about paypal….im buying something using USD..how do i make my payment, will it convert automatically ? if yes, how is the exhange rate..thanxxxx
Yes, Paypal will notify you about the exchange rate before you pay the money