New Paypal Withdrawal Option For Malaysians

Yes, it’s true! Paypal now provides withdrawal to Malaysian Visa or Mastercard. I’m trying to contain myself… but what the hey… Yahooooooo! Malaysians have long been hampered in making money online because Paypal did not have any option to withdraw funds to local bank accounts. I don’t recall exactly when I last checked my account in Paypal but it couldn’t have been more than a couple of days ago, and I did NOT notice any other withdrawal option other than to a US bank account (I suppose that this option must have been made available only days ago). Then I read Jenny’s (the nicest eBay seller on Planet Earth) latest post title and almost fell off my chair! Thanks for the heads up Jen… luv ya!

This opens up soooo many earnings avenues for Malaysians. Previously, I would just pass up on revenue streams simply because they only offered payment via Paypal. The problem was trying to open a US bank account. Recent changes to US banking procedures have made it nearly impossible for non-US citizens to open a US bank account.

Some of the solutions I found were :

• an eBook by a Malaysian who gave a detailed workaround to the problem, but that involved making a trip to Singapore. I was about to do it at the end of this year. Looks like I don’t anymore.
• another guy was selling his solution for USD100 which contained all the forms and documents needed to open a US bank account. He gave a money-back guarantee if the application was rejected. That would have been my second option.
• to open a premier bank account with HSBC. The bank manager said that the only way they could help was if I were to maintain RM250 K in that account for a period of six months and they would assist in opening a US bank account.
• to look for a Paypal exchanger. I’d have to sell him my Paypal funds for a low exchange rate (some as low as USD1 : RM3). Not my favorite option, but something I would have considered if all options panned out.

In any case, I think our good fortune is also a crucial blow to the guys who were selling their workaround solutions for this Paypal problem to Malaysians. I wish them all the best in finding an alternative product to sell.

Anyway, if you’re a Malaysian and you log into your Paypal account now, you will see the following option added to your withdrawal page :

Adding credit cards to your profile is a simple process. You will need to enter you credit card details :

After you’ve added your card(s) to your profile, they will be shown as such. You can add other cards if you wish :

Okay… I’m all set. With this new withdrawal option, I can change many of my revenue streams to payment via Paypal. Saves the RM70 bank charges I currently pay with checks… plus it’s a lot faster and safer. No need to worry about checks getting lost or ending up in Senegal!

Plus… I’m now open to revenue streams that only pay International publlishers via Paypal! I can smell money coming…

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