October 16, 2007

PayPal Announced The Official Guide on Debit Card Withdrawal Features

APAC_Original_Credit_WithdrawPayPal has finally announced the official guide since my previous blog post on withdraw PayPal money fund directly to Visa® branded credit, debit or prepaid card in 26 countries. I saw that button guide when I logged into my PayPal account few days ago. Below is the excerpt I got from the eBay Singapore site:

We’re pleased to announce the launch of a new withdrawal feature, allowing you to transfer funds from your PayPal account to your Visa® branded credit, debit or prepaid card. This new feature will enable you to gain convenient access to your funds and is available in 26 countries, including Malaysia, India, Indonesia and the Philippines.

It is 3 easy steps to withdraw the fund:

paypal-withdraw-procees

This withdrawal method will charge at US$5 per withdrawal transaction and PayPal will completes the transfer in 5-7 workings days, but also depends on your Visa® card issuer’s policies on the processing time. The minimum withdrawal amount is US$10. Take note that the current withdrawal method is available to Visa® branded credit, debit or prepaid card ONLY. Please check with your cards whether it is fulfill the above requirement. There is no indication on Master branded cards. It is either we get our Visa card soonest possible or wait for them to announce on that later. Since I have done all the necessary way to get my US Bank account, so, I didn’t link up my PayPal to the debit card. To find out how does these process works (I need to understand this as I need to update the latest news on PayPal to my workshop students.) Hence, I have spent about 3 hours to read through some bloggers post on their experience on withdrawal. Most of them did some of the checking on which bank cards allow them to withdraw. In fact I think they are quite confused by now as some of them able to withdraw and some of them not. I thought of putting up a summary on which bank card can use and which bank card cannot use for your easy reference. If you read the guideline above carefully, you will realize that among the 8 banks which offers debit cards in Malaysia, only  2 can use for withdrawal at the moment, there are:

  1. Public Bank Visa Electron Debit Card
  2. Al-Rajhi ATM Debit Card i
  3. UOB ATM with VISA Electron ??
  4. TuneMoney.com VISA Debit Card (Read my review - the latest and the fastest!)

The other 4 - 6 banks which offer master debit cards are not able to use for withdrawal at the moment.

  1. AFFINBANK Debit MasterCard
  2. Ambank NexG Debit Card
  3. MOL Freedom debit card
  4. Alliance Bank International Debit Card
  5. BSN Matix Visa Electron
  6. Maybank Visa Debit Card (Read my review)

For credit card withdrawal, you might want to check out this post from Limadang’s blog. According to him, it’s not all credit cards able to withdraw PayPal fund.

However Bank Negara set the ability to withdrawal availability to only International Banks like HSBC or Standard Chartered Bank.

There are at least 3 bloggers that I knew they manage to withdraw fund into their Citibank, HSBC and MayBank Visa card. However, I am not encourage you to use this option as these banks will charge for advance fee ranges from 1.5% - 5% when you withdraw the fund. Check out the blog post for success story: Success stories on Credit Card withdrawals:

  1. Pikeydude
  2. Webgrrrl
  3. Samm
  4. Miche (according to Azwan Hadzree's blog, she managed to withdraw to her UOB credit card but didn't mention it in her blog).
  5. Chinnee
  6. Uncle Sam

For debit cards withdrawal, I have compiled some of the bloggers’ experience on how do they withdraw into different debit cards. See below for details: Al-Rajhi ATM Debit Card: (Jimmy, Sweet Surrender & Make Money Blog update their blog that they have received they withdrawal successfully, good for them!)

  1. Jimmy Chin (wrote in Chinese)
  2. Sweet Surrender
  3. Make Money Blog
  4. AceOne
  5. Azwanhadzree
  6. Chin Nee
  7. Serena

Public Bank Visa Electron:

  1. Papa Joneh
  2. Malcolm
  3. Sukeri (wrote in Malay)

Most of them using Al-Rajhi Bank & Public Bank debit cards and got their withdrawal successful. According to NimrodJO's post, PayPal rejected on the withdrawal request to BSN Matric Visa Electron card due to the restriction from the Bank. If you have tried with UOB ATM with Visa Electron card & BSN Matrix Visa Electron card, kindly share you story with us. AceOne mentioned that the exchange rate is around 3.299 and his withdrawal took six (6) working days to get it. Thanks for the details info. If you don’t have any cards yet, I suggest you read on the various bloggers feedbacks and their experience in getting new cards. You may also want to read 5XMom’s opinion why she prefers to use Al-Rajhi ATM Debit card. Look like you have to wait for Public Bank process your application and get your debit card, this is the only choice (for Visa Debit Card) that works at the moment. Make sure you verify your account before put up the withdrawal, you can check out from papajoneh’s blog as he wrote a very details post on the verification process. Otherwise, you still can get the info from the PayPal website.

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58 Comments on PayPal Announced The Official Guide on Debit Card Withdrawal Features »

October 16, 2007

papajoneh @ 5:04 pm:

Thanks for the mention Steven ;)

Zaiful Zin @ 6:44 pm:

Hi Steven thanks for info, im still trying to get another PB dbt card.

Fahmishah @ 6:48 pm:

ok! thanks for the great notice! now i am going to open al rajhi bank

kiatlc @ 7:58 pm:

You have done a good compilation job indeed.

kiatlc @ 7:59 pm:

Your wordpress setting is not in UTF8? Chinese characters become question mark

limadang.com @ 10:22 pm:

Yo Steven! thanks for the mention bro :) nice compilation

Kay Kastum @ 11:01 pm:

Wow. You have invested a good amount of time for the good of many my friend!

Irene @ 11:17 pm:

Thanks for the list, in fact I have a post of the list as well and please update that Alrajhi failed.

October 17, 2007

pikey @ 12:19 am:

thanks for the mention~~! instead of withdrawal, it can be paid for your credit card outstanding balance… just another way of handling cash flow.

Kitkat @ 12:20 am:

Good work. Now, which card is the best to use to withdraw my Paypal US$ into CASH? :)

nimrodjo @ 1:02 am:

We cannot use BSN Matrix Visa Electron because our BNM policy or rules. I was really hoping I can withdrawal using the card but I tried and it cannot happen.

tazamfnbiz @ 9:03 am:

Nice info. thanks agree with pikey.

Ahmad Uzair @ 10:24 am:

Nice list and thorough explananation.

Steven Wong @ 12:11 pm:

Papajoneh: You are most welcome.

Zaiful Zin: Please let me know whether you can withdraw from PB Debit card.

Kiatlc: Yes, my blog is using UTC8 coding, but I don't know why the Chinese characters didn't display well.

Fahmishah, Kiatlc, Kay Kastum, Irene, Ahamd: Thank you for your comments, I am sure you will be benefited from that. My time is not wasted after all. :P

Pikey, Tazamfnbiz: Yeah, if your objective is to pay off your debt, this is indeed is a good try, but don't tell me you have debts that forever you didn't manage to pay off. For business income purposes, it is always able to withdraw and deposit into your local bank account.

Kitkat: Seems like the Al-Rajhi & PBB Bank is the best solutions so far, I am yet to get confirmation on the  BSN (confirm cannot, please read my updates) & UOB Cards.

Nimrodjo: Can you point out your post in your blog about BSN Matrix? I can't find your post.

 

Samm @ 1:46 pm:

Thanks for plugging my post, Steven. Wuah… quite a lengthy post here wor. I still havent banked in my Demand Draft yet. No time. I shall wait for the next one to arrive and bank them in together with my Adsense cheque.

Leona @ 2:14 pm:

thanks for this detailed post and links…hope to hear more good news of withdrawals. hope no banks change their policies all of a sudden.

[…] post is my answer to Steven Wong request for a clear explanation about BSN Matrix Visa Electron card in withdrawing PayPal money. I logged […]

Steven Wong @ 11:26 am:

Samm & Leona: Thanks for the comments, and I hope more PayPal users are able to use this guide as a reference for their withdrawal exercise.

NimrodJo: Thanks for the updates and I have point back to you in the post updates.

October 19, 2007

nimrodjo @ 1:07 am:

Thanks for the link back…I'm glad to help…

[…] For an almost complete and growing list of credit cards and debit cards that either does or does not work with PayPal, check out Steven Wong's blog. […]

TenthOfMarch @ 11:26 pm:

Jimmy reported that his withdrawal to Al Rahji debit card failed.

http://makemoney.catscity.net/?p=224

[…] 20, 2007Wordpress Blog Chinese Character Issue and It's Solution In my previous post on PayPal withdrawal guide, one of the blogger from Penang, ç´«é›¨ (purple rain) was trying to left comment in Chinese […]

October 23, 2007

Vedis Teh @ 6:25 am:

Hi,

Me too..;D I withdrew into Citibank Visa card successfully. I didn't wrote an entry about this because my PayPal account was limited access recently.

http://www.showmemoneybiz.com/search/label/Paypal%20Issue

October 24, 2007

colbert @ 3:03 pm:

steven, Al-Rrajhi ATM Debit Card is spelled wrongly. Its Al-Rajhi bank Debit card

Steven Wong @ 5:38 pm:

TenthOfMonth: Yes, already update the info, thanks for informing.

Vedis Teh: Thanks for sharing

Colbert: Thanks for the info, I have amended, it is probably a typo mistake. :P

October 25, 2007

AceOne118 @ 6:33 pm:

I have got my Paypal funds credited into my Al-Rajhi VISA debit card already.

October 26, 2007

Steven Wong @ 7:36 pm:

Thanks to Ace One for updating the Good news! I can go back to others bloggers who didn't wait long enough to get their fund withdraw. I think maybe their attempt not success due to some reason. Can you answer my question below?

1) Do your PayPal name & address same as your Al-Rajhi debit card?

2) How long would it takes for you to receive the fund? From the day you request withdrawal from Paypal until you got it in your bank account.

3) What is the exchange rate you get?

AceOne118 @ 11:24 pm:

Steven, answers to your questions.

1)Yes.

2)I made withdrawals dated 18/10/07 and got my money on 25/10/07.(Six working days). If included Sat and Sun then it is 8 days.

3)The exchange rates I got is not so convincing. It is at 3.299

October 27, 2007

azwanhadzree @ 12:01 am:

Got mine to Al Rajhi already. Will blog it soon :)

[…] successfully transfered their money out of PayPal and back to Malaysia. My Previous Post on PayPal Steven Wong's Blog This girl successfully tried with her Citibank Credit Card and got a higher xrate. Miche was […]

chinnee @ 2:58 am:

Hi Steven,
I got mine thru Citibank credit card and surprisingly, the rate was good. Din show any charges on my statement though…

October 28, 2007

chinnee @ 8:43 am:

Steven, here is a Happy Halloween treat for you http://www.demoments.net/blog/?p=1330

November 3, 2007

Steven Wong @ 12:31 am:

Aceone: Thanks for the updates! I have put up in my blog entry.

Azwanhadzree: Yes, already updated my blog on your feedbacks, thanks!

Chin Nee: Thanks for the Halloween treat! Seems like you are able to get through CitiBank & Al-Rajhi cards, congratulates!

November 26, 2007

Serena @ 5:00 pm:

I also give my testimony that I am able to withdraw paypal funds on the same day as my Al Rajhi debit card was applied and issued.

http://quantumchat.blogspot.com/2007/11/paypal-to-debit-card-malaysians.html

December 5, 2007

Dillion @ 8:09 pm:

Hi
can i ask you people?? who have a problem getting thier debit-card verify on paypal.i just got me Al-Rajhi VISA debit card but when i try to verify at paypal, messege come out say "We were unable to verify this credit card. Please check if the information you entered is correct. If the problem persists, please try to enter a different credit card." who know what going wrong here?i had tried many time also retype every things even create new paypal account but the problem still the same.Is there something to do with the address?
Please advise me.Thanks

December 10, 2007

Steven Wong @ 10:47 am:

Serena: thanks for sharing your paypal withdrawal experience. Do tell us more about your other success stories then.

Dilion: Yes, address could be one of the potential issue. I didn't use this option so I can only judging from the feedbacks I received from others.

 

January 8, 2008

byhulk @ 1:16 am:

the paypal must verfied or not ?..

Steven Wong @ 9:29 am:

Byhulk: You got to link your card to the paypal before you can verified. Please read from the PayPal website for how to verified and you know the process flow.

January 23, 2008

hafez @ 12:44 am:

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.

January 31, 2008

David @ 5:06 pm:

Hi all …

If I withdraw to my Citibank VISA credit card, can I transfer the money to my bank account ? How the charges like ?

For PBB Visa Debit Card, I will be charged a fee to transfer the money out as well. Right ?

Which one charged the less fee ? Per your experience ?

Thanks … I hope to get some $$$ out before CNY.

Steven Wong @ 5:37 pm:

Hafez: Thanks for dropping by and offer direct access info, I hope you will be able to help my blog visitors to get their debit card ready.

David: If you read this post carefully, you will find out using debit and credit cards is charged for USD$5 per transaction by PayPal. However, it is depends on the bank to charge you on different currency rate and there is a advance withdrawal fee of 1.5% - 5% for credit card. Where else debit card no withdrawal fee, you can transfer to your saving or current account.

February 18, 2008

Samuel @ 3:31 pm:

Hi
I am just wondering do all the malaysians' paypal daily withdrawal limit are set to maximum USD$500? IS there anyway to lift the daily withdrawal limit?

March 17, 2008

Su Sheng Loong @ 10:08 am:

I have applied for a public bank debit card and I will collect it later. Hopefully it works well with the paypal account. I have no choice as I am still a student with no income source(cannot apply for credit card!). I wish there is an easier way to transfer the paypal money like directly transfer to the bank account.

March 29, 2008

EliteVillain @ 7:18 pm:

The Paypal itself did states that as long the debit cards have Visa or Mastercard logo they will be accepted…You can see this statement when you try to "add a card"…

March 31, 2008

Blog Marketing @ 9:35 am:

Samuel: Yes, the PayPal withdrawal daily limit is US$500. If you have big sum balance need to withdraw more than that limit, try to write to PayPal.

Su Sheng Loong: That is the easiest way for Malaysians :)

Elite Villain: Nope true as what you are saying. There is a different between linking your account (for purchases) and withdrawal. Linking account allow on Visa and Master Cards, but withdrawal only restrict to Visa brand debit or credit cards. Please read it carefully and you will found the different.

 

EliteVillain @ 10:17 am:

I thought after you add the card it will enable you to verify the paypal….after that you can have the withdrawal…am i wrong?

Steven Wong @ 9:15 pm:

EliteVillain: Let me say again, verify your paypal with your visa or master card don't mean you are enable for withdrawal. You need to link the right visa brand cards for withdrawal. Please read my review above for cards that working for withdrawal.

April 23, 2008

ling @ 8:12 am:

why I failure to verify my paypal account by using Maybank Visa Decit Card?

Blog Marketing @ 10:11 am:

Hi Ling, Of course you can't, because Maybank Visa Debit Card is not ready for PayPal yet, did you read my comment said it is NOT accepted by PayPal withdrawal?

May 7, 2008

ling ling @ 12:16 pm:

I just got my Al-Rajhi debit card but I cant link and save to my Paypal. My account shows already minus RM1.00. So now I cant even verify my card

How leh? ANy help? Thanks thanks
:(

May 8, 2008

ling ling @ 9:59 am:

i am having the exact same problem as Dillion above. I cant verify my AL Rajhi card but in my AL Rajhi statement it shows one ringgit been taken out.

May 11, 2008

Steven Wong @ 8:31 pm:

Ling Ling: First of all, check with the bank on that transaction whether is charged by PayPal. If you are not sure who can check with, you contact Muhammad Hafez for help. He left comments early this year in this post, you can read here and get his email address.

June 12, 2008

Mohd Faisal @ 6:44 pm:

I have already made my first withdrawal of $300 (-$5.00 Paypal fees) today 12th-May after my withdrawal request from Paypal account on 8th May 2008. So it seems that it took about 4 days to complete withdrawal from Paypal to my Public Bank VISA Electron ATM card.

Withdrawal request from Paypal took about 1-2 days to get 'Completed' status, and you have to wait about 4 days to get your available balance to appear with the withdrawal amount.

Mohd Faisal @ 6:47 pm:

Sorry for the wrong date. It's supposedly June on the latest and first transaction of mine.

Please accept my apology.

Thanks!

August 28, 2008

Lena Khalid @ 5:12 pm:

Steven,

Kindly advice.

Is there any way PayPal could increase uplift limit for Malaysians from USD500 to higher ? I have request for this uplift to PayPal but no replies yet.

Thank you
Lena Khalid

Steven Wong @ 5:18 pm:

Lena: You got to check with Paypal. I am not sure whether can do it or not. If can, do inform me the details so that I can share with my readers.

August 30, 2008

Lena Khalid @ 3:16 am:

Hi Steven,

Received reply from PayPal. They cannot uplift the limit from USD500. They advice to open US bank account. ;-)

Enjoy your weekend.

Lena Khalid

October 5, 2008

Money Ideas @ 9:01 pm:

Great post, thank you.

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