Malcolm Online

85 Responses to “Withdraw PayPal Funds to Malaysian Bank Accounts”

1. PayPal Funds Withdrawal to bank account is cheaper than withdrawal to credit or debit card | Malcolm Online // Oct 28, 2009 at 11:58 am

   [...] learn more on withdrawing your PayPal funds to you local bank account, read my blog post here. addthis_url = [...]

2. kiat // Oct 28, 2009 at 6:27 pm

   That is a great guide. Thanks.

3. pling // Oct 30, 2009 at 11:39 pm

   thanks for sharing this good news!

4. malcolm // Oct 31, 2009 at 12:26 am

   You are welcome. :)

5. Kafechew // Nov 3, 2009 at 12:01 am

   Wow~ what’s a good new!
   Thanks a lot for your information~
   May I repost it in my blog?
   I will give credit to malcolmwong.com

6. malcolm // Nov 3, 2009 at 12:05 pm

   hi Kafechew. Sure thing. You may also want to change your sentences a little so it looks more like yours :)

   Thanks.

7. Kafechew // Nov 3, 2009 at 12:33 pm

   Thanks a lot~ following your blog :)

8. Louis // Nov 4, 2009 at 1:47 am

   Hi,
   Have anyone tried this yet?
   I withdrawn my money with it however it shows the status in Paypal is complete however my Maybank account is still the same >.<.
   Today is the 3th day already haha.

9. malcolm // Nov 4, 2009 at 7:20 am

   Hi Louis. I know a few have tried it. Apparently it will take longer than 3 days.

10. Louis // Nov 4, 2009 at 9:55 am

    Thanks for the info. >.<
    They shouldn’t write 2-3 working days. Kinda confusing to everyone.
    I hope mine wont be rejected….

11. Muiz // Nov 4, 2009 at 5:20 pm

    its kinda take a long time to withdraw to my CIMB.
    i still didn’t get my cash.
    huhu~

12. pling // Nov 4, 2009 at 9:16 pm

    Hi,

    Just share my first experience, i withdrawn on 01 Nov to my public bank account and i received money on 04 NOV today.

    :)

13. Louis // Nov 4, 2009 at 9:17 pm

    I withdrawn on the 2nd and no news yet >.<
    I Got a feeling that it got rejected.

14. Louis // Nov 4, 2009 at 9:22 pm

    Updated:
    I got my fund already :) hehe
    2 Nov and got it today 4 Nov :).

15. malcolm // Nov 5, 2009 at 12:28 am

    pling, Louis. Congratulations.

    louis, which bank did you withdraw to?

16. dins // Nov 5, 2009 at 8:24 pm

    i withdraw on 1 oct 2009 to my maybank account and the money available to my local bank on 5 oct 2009.thats great but the xchange rate is low.

17. SD // Nov 6, 2009 at 8:56 am

    hi Muiz,
    i read u r trying to withdraw money fr Paypal. hv u got it? mine got rejected, is it due to CIMB problem?
    I got these error:
    * The bank account number does not exist or is otherwise invalid
    * The bank branch listed in your PayPal account does not exist
    * The bank does not accept electronic withdrawals
    * Other reasons not specified by the bank”

    Thanks

18. Louis // Nov 6, 2009 at 9:18 am

    @SD
    Try calling up CIMB to get check their swift code. and double check your bank account number.

    @Malcolm
    I withdrawn to my MayBank Account ;)

19. SD // Nov 6, 2009 at 9:20 am

    Hi Louis, thanks for your reply. i hv copied n paste the swift code fr paypal. i hope that is correct. upon rejected, i was deducted RM15, so i am really not sure whether or not to give CIMB a try. :(

20. malcolm // Nov 6, 2009 at 9:24 am

    SD. Can you check if your Swift Code is CIBBMYKL ? PayPal did not display the right swift code for CIMB previously. Not sure about now.

    If there was a failure of withdrawal, the charge is RM 15.

21. shahrizal // Nov 6, 2009 at 9:25 am

    hello people,

    i have the same problem withdrawing to CIMB.
    and the funds i have was deducted RM15 (reverse charge)

    i already check my bank account details and there was nothing wrong with that
    but i discovered that BANK SIMPANAN NASIONAL and CIMB BANK BERHAD
    shares the same “MEPS bank routing code”, which is BSNAMYK1 (according to PayPal website)

    there could be a mistake there. i already email PayPal regarding this

22. Louis // Nov 6, 2009 at 9:27 am

    haha ;) try it :) But if you try it today u will only know next week >.<

23. SD // Nov 6, 2009 at 9:29 am

    hi shahrizal,
    may i know when did this happen? i transferred on 31 Oct and just to know about the reject today. the swift code was copied on 31 Oct and i have forgotten what code was that i hv copied from Paypal. :P

24. shahrizal // Nov 6, 2009 at 9:36 am

    i withdrew the funds on 29th October 2009.
    i strong feel that something wrong there.

    why would the MEPS banking route code for CIMB Bank have the initials of BSN (obviously stands for bank simpanan nasional) right?

    well, hopefully we can get the RM15 back!

25. shahrizal // Nov 6, 2009 at 9:40 am

    oh yeah, i also got to know about the recject today too

26. shahrizal // Nov 6, 2009 at 10:06 am

    ok so can anyone suggest which local banks to withdraw our funds to? i mean the ones that have been successful

27. Muiz // Nov 6, 2009 at 10:43 am

    my withdraw also rejected.
    and rm15 is deducted, so i feel lazy to do it again.
    juz save it in paypal for ‘ jaga ‘ my paypal acc.

28. lucas // Nov 6, 2009 at 12:46 pm

    may be just igone using cimb and bsn., use other bank at least some member have tried it and it work,

    CIMB is rich now with Maxis IPO ( get profit 400 million).

    Anyone care to share the conversion rate? Just to see how low is low..

    cheers

29. SD // Nov 6, 2009 at 5:05 pm

    hi all,
    I have my RM 15 refunded after filing up a request. But not sure if i should try CIMB again. Anyone tried it successfully?

30. shahrizal // Nov 6, 2009 at 6:33 pm

    SD, how did you do that? i want my RM15 back too!

31. Malcolm // Nov 6, 2009 at 7:13 pm

    SD. I think there is no harm trying again. After all PayPal has been honest about the mistake and return the RM 15 to you.

32. shahrizal // Nov 6, 2009 at 7:48 pm

    i think so too. i checked back the PayPal website and they have changed the MEPS routing code to the correct one, which is CIBBMYKL

33. SD // Nov 6, 2009 at 9:01 pm

    Hi Sharizal, just go to Contact Us and send them an email. Pretty fast action from them. Within a day. GOod luck !

34. shahrizal // Nov 13, 2009 at 1:09 pm

    withdrawal successful, it took about 4 days to get the money into my CIMB bank account!

    don’t forget, the actual swift code is CIBBMYKL

35. SD // Nov 13, 2009 at 3:34 pm

    me too. took about 4 working day. at last! thanks Guys!

36. kelv // Nov 16, 2009 at 1:03 pm

    I withdrawed to my Public Bank account on the 10 Nov but nothing as I checked this morning. But on paypal’s summary its says completed. Hopefully tomorrow it’s there. 6 days…. sigh…..

37. asdf33 // Nov 18, 2009 at 10:09 pm

    Hi, if i have a bank account with different account name with the paypal account name, can i add it to the paypal to withdraw fund? Let say like my bank account name is ABCDE and my paypal account name is ZZABC. Thanks.

38. malcolm // Nov 19, 2009 at 12:38 am

    hi asdf33. Why don’t you ensure both bank names are correct? Just delete the previous bank you added and add the correct bank name and code.

39. asdf33 // Nov 19, 2009 at 1:16 am

    hi malcolm,

    what i mean is can i use other people Malaysia bank account like my friend bank account to add into my paypal account and withdraw from paypal? I dont have malaysia bank account and i dont want to open a malaysia bank account too.

40. malcolm // Nov 22, 2009 at 11:48 pm

    hi asdf33. Logically, you are not supposed to withdraw to other people’s bank account. Technically, you may be able to add the bank account.

41. Terry // Nov 25, 2009 at 10:31 am

    May I know any charges for the withdrawal to Malaysia Bank Account?

    Last time I withdraw the fund to my debit card and they charged USD $5.

42. malcolm // Nov 25, 2009 at 10:45 am

    Hi Terry. You can refer to my blog post here.

43. jack // Dec 1, 2009 at 11:23 am

    can i ask,
    the CIMB Bank debit card visa can use with paypal

44. malcolm // Dec 2, 2009 at 10:17 am

    Hi Jack. I didn’t know CIMB has a Visa Debit card. Since it is a Visa card, you can try to add it to PayPal. It is likely to work unless your issuing bank does not allow online transaction for the card.

45. nicole11 // Dec 4, 2009 at 2:06 am

    do anyone try before for the both withdraw to credit card/debit card or withdraw to bank account? Is the currency conversion rate for withdraw to credit /debit card higher than withdraw to bank account?

46. malcolm // Dec 4, 2009 at 9:04 am

    hi nicole11. The currency conversion rate for withdrawal is determined by PayPal in this case. There is no difference as far as I understand. However, PayPal charges less withdrawal fees if you withdraw to banks.

47. nicole11 // Dec 4, 2009 at 4:55 pm

    I see, thanks for the info.

48. reen // Dec 24, 2009 at 3:47 am

    I got 1 question. If I want to withdraw my paypal fund to my bank acc, am I need to change the main curency to RM 1st? currently i still havent open RM curency for my paypal acc.

49. malcolm // Dec 24, 2009 at 2:25 pm

    Hi Reen. You don’t need to change the main currency. You can withdraw any currency.

50. arif // Dec 30, 2009 at 11:52 pm

    hello malcolm…
    i want to ask ur opinion..
    what’s the difference to withdraw to debit card and withdraw to bank a/c…??
    i think it is the same because if we withdraw to debit card, the money will also go to my bank a/c right???
    how about u??

51. malcolm // Jan 6, 2010 at 12:35 pm

    Hi Arif. You can read my blog post on the differences between withdrawal to debit card and bank account here.

52. Pin // Jan 26, 2010 at 11:05 am

    Is this the correct code for Public Bank: PBBEMYKL

53. malcolm // Jan 26, 2010 at 11:52 am

    Hi Pin. That is correct. When you add a bank account in your PayPal account, there is a link to a list of banks and their MEPS codes.

54. Burn // Feb 12, 2010 at 12:04 pm

    Sorry for asking…. I’ve try look everywhere of maybank code…. I wonder if you know…. cause it’s not in the list…

55. Naruto Shippuden // Feb 18, 2010 at 7:00 pm

    lol why is this happening, when i withdraw the money.. second day i check my paypal the tranfer is completed.. but when i check my bank there is no money Oo

    =============
    Malcolm: Hi there. For PayPal, they have completed the transfer. It takes more than 2 days for transfer to complete depending on your method (withdraw to card to bank account). The estimated periods are stated at your withdrawal page.

56. malcolm // Feb 19, 2010 at 12:03 am

    Hi Burn. You can have a look here.

57. yuhyang1122 // Feb 20, 2010 at 12:21 pm

    wow! how long does the verification process takes??

    thx a lot! ur information gv hope to me!! haha

58. amin // Feb 22, 2010 at 3:48 pm

    Just transferd to the Maybank account that i opened today, hope it goes well,

    @Burn, its in the list look for “MALAYAN BANKING BERHAD”

59. Nathaneal Abraham Gregory // Feb 26, 2010 at 12:15 am

    do i need a credit card to purchase or use paypal? coz i only have a bank account in CIMB bank.

    ============
    Malcolm: You need a PayPal account to pay anyone who accepts PayPal. A credit or debit card will be attached to your PayPal account as a funding source.

60. Ywaste.net // Feb 28, 2010 at 11:56 am

    Hi,
    at step 2, Bank account column, showing “checking account”, with this “checking account”, can i still transfer my fund from paypal to my MBB account?

    thanks!

    ===========
    Malcolm: Yes you can.

61. malcolm // Mar 1, 2010 at 7:54 pm

    Hi yuhyang1122. What verification process did you mean? To my knowledge, when you add a bank account, there is no verification process.

62. Mathew // Mar 4, 2010 at 2:39 pm

    After adding my bank account (say maybank) to paypal, would i then be able to add funds TO paypal FROM my maybank account?

63. malcolm // Mar 5, 2010 at 10:03 pm

    Hi Matthew. This funding method doesn’t apply to Malaysian banks at this time. You can do this in the UK or the US.

64. calfred // Mar 6, 2010 at 5:06 pm

    thanks a lot for all the time taken to publish these info.
    they’re very valuable. :D
    thanks again, mr. Malcom.

65. malcolm // Mar 10, 2010 at 9:50 am

    Hi calfred. Thank you.

66. Viknes // Mar 15, 2010 at 7:46 pm

    Hi there,

    I’m just wondering, lets say If I have my Paypal account under my name but using my brother’s credit card information. So, the info goes like this:

    Paypal Name: Michael Jackson
    Credit card: Janet

    Obviously, the bank that I am going to withdraw would be having my name (Michael Jackson). Will the withdrawing process be successful although the credit card’s holder is not me?

    Thanks.

67. malcolm // Mar 15, 2010 at 11:15 pm

    Hi Viknes. If you are withdrawing to your bank account and the name matches, then there shouldn’t be any problem.

68. John // Mar 29, 2010 at 11:13 pm

    i had linked my maybank account with paypal but it show ” checking account ‘ is it possible for me to withdraw the money ?

69. malcolm // Mar 29, 2010 at 11:26 pm

    Hi John. Shouldn’t be a problem. Is your bank account a checking account or savings account?

70. ath // Apr 8, 2010 at 9:52 pm

    hye,

    I have withdrawn money from paypal to my maybank bank account . on march 30th it showed Completed,but until today, I haven’t received the money in my bank account balance.

    I’ve searched the paypal help page. they said,
    “When the status of your withdrawal is Complete, that means your withdrawal is complete through the PayPal system. The Completed status does not mean your bank has recognized the funds or that the funds are available in your bank account balance.
    If there is a problem with your withdrawal, it may take up to one week for your bank to notify us. We alert you by email if we learn of any problems in processing your withdrawal. ”

    but it’s been more than a week now,still no money. what to do? help!!!

71. Simon // Apr 10, 2010 at 4:43 am

    Would like to check. I have make a lot of withdrawal from paypal and have lost track of the actual balance. I make a withdrawal on 31st March and the next on 5th April to my Public Bank debit card. My Public Bank debit card statement show:

    Transaction Date: 31 March
    Posting Date: 3 April

    Transaction Date: 5th April
    Posting Date: 8 April

    I’m not sure what is my Public Bank balance on March till 7th April. My question is, “Is it possible that if the posting date in my bank statement shows 3 April but the physical fund only come in on 8 April and the posting date for 8 April, the physical fund will only come in after that?

    OR the posting date on my statement is the actual physical fund receive in my public bank debit card account? Please help. Thanks.

    ======================
    Malcolm: Hi Simon. Thank you for your question. The posting date is the date Public Bank update your account with that transaction. That means you have received the funds on that posting date.

72. malcolm // Apr 11, 2010 at 11:08 am

    hi ath. Don’ worry. At times it takes up to 3 weeks.

73. ath // Apr 12, 2010 at 12:04 pm

    up to 3weeks? quite a relief to hear that.
    still don’t get the money,though.

    I got a reply from paypal for the query I sent them earlier. they asked me to wait up to 14business days. and if still don’t get the funds,they asked me to send a copy of my bank statement. and they will check where is the fund.

74. SKII seller // Apr 15, 2010 at 11:10 am

    Hi Malcom,
    just want to check, my customer (malaysian) has make a payment via paypal (USD) to my paypal account. and i have withdraw the payment (RM) to my maybank account. Would that be a problem because i just saw the below sentence:

    “Transactions between Malaysian residents must be made using Malaysian Ringgit.”

    Does it means customer must pay in RM instead of USD? or payment received must in RM?

75. malcolm // Apr 15, 2010 at 2:27 pm

    Hi SKII seller. Up to now, PayPal has not enforced this rule on behalf of Bank Negara. You can still send and receive USD from Malaysian PayPal account.

76. ath // Apr 16, 2010 at 7:47 pm

    hye malcolm,

    when you said 3 weeks,did you mean 21 business days or 15 business days?

77. malcolm // Apr 17, 2010 at 9:30 am

    Hi ath. When I mentioned 3 weeks, it is an estimation. What I was trying to say it may take longer than the official period. You will be suprised if I tell you some of my readers received their funds after a month. :)

78. ath // Apr 18, 2010 at 8:34 am

    whoa,guess I have to wait then..

    thanks malcolm.

79. ath // May 13, 2010 at 9:06 pm

    hye malcolm,

    it’s me again here. about my withdrawal the other day,I still don’t get it in my bank acc.

    today,I checked my maybank visa debit card acc on maybank2u,I was surprised to find out there was a transaction pre-auth debit rm49.59.

    but,I didn’t use the card to book hotel room or fuel up car at any gas station.
    the last thing I did was a cash withdrawal at the maybank atm machine.

    not just I haven’t received the money from my paypal acc but now they took rm49.59 from me?

    before I fire the customer service with questions,I’d like to ask you,hope you can help.

    what do you think happened? did someone use my card? does it have anything to do with the withdrawal from paypal?

    thnx in advance.

80. malcolm // May 20, 2010 at 11:19 pm

    hi ath. It has nothing to do with withdrawal of funds from your PayPal account. If you are sure you have not made this purchase of RM 49.59, then I suggest you quickly call the Maybank number on the reverse of your card to lodge a charge back.

    They will cancel your card and issue you another.

81. hoop // May 21, 2010 at 11:26 am

    Hi Malcolm,
    Good day to you, wanna know is there a limit that we can withdraw to our bank per day?

    last time is USD500 withdraw to debit card, how about to our bank? still limit to USD500?

    thanks

    ============
    Malcolm: There is no limit when withdrawing to bank accounts provided you are a verified PayPal user.

82. ath // May 23, 2010 at 12:24 pm

    thank you for the info and the suggestion. it helps a lot and such a relief to know it’s not paypal.

    I’ve got an email from a company which I used their service,telling me that due to some error,they charged me a month late for the service.

    so,that’s where the money gone.
    good news is,I finally got the paypal withdrawal.

    thank you so much for the help. :)

83. en // Jul 6, 2010 at 11:30 am

    Just confirm from Maybank after my paypal transaction failed, the correct code is MBBEMYKL

84. jocelyn // Jul 8, 2010 at 12:34 am

    hi malcolm,

    would like to ask can paypal link to maybank (or other bank) current account?

85. malcolm // Jul 25, 2010 at 5:24 pm

    Hi en. Apologies for the error. It is best to check with the MEPS code list given by PayPal.

    Hi Jocelyn. Yes, you may link PayPal to Maybank or other banks listed by PayPal. Current or savings accounts are fine.