Withdraw PayPal Funds To Malaysian Bank Accounts Directly

Well, shows you how out of touch I am with what’s happening online. I usually leave my PayPal funds until I need a little bit of extra cash (I know… I know… they say it’s not a good thing to leave your money in PayPal…) so it was a surprise when I logged in to find that they allow direct withdrawal to Malaysian bank accounts.

I then checked online and found lots of other bloggers alrealy discovered this and posted about it. In any case, if this is the first you’re hearing about it, here’s what you have to do :

1. Log into your PayPal account.
2. Click “My Account” then “Withdraw”.
3. You’ll see that there is a new option to “Withdraw to your bank account”.

4. When you click this option, you will be prompted to add a Malaysian bank account if you haven’t already done so. The process is pretty much like adding a debit card to your account for withdrawals.
5. I was stumped when they asked for the Bank Routing Number but PayPal is pretty proactive and provided a list of codes. They made the process easy peasy.
6. After adding your account, you can then make your withdrawal.

I initially wanted to withdraw $500, but I’m always careful with first transactions, so I changed it to $20. I’ll wait and see if the transaction goes through. There’s a RM3 charge for withdrawals below $USD400, but it’s a small price to pay for peace of mind. With this new service, I don’t have to keep my Public Bank Debit Card which charges an annual service fee.

I have to say I looooooooove making money online!

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