Withdraw PayPal Funds to Malaysian Bank Accounts
I grinned when I successfully added my Maybank current account to my PayPal account.
The following are steps to add any of your local bank accounts (savings or current accounts) to PayPal for future withdrawal purpose.
Step 1. First, in “My Account” click on “Profile and then “Add/Edit Bank Account”
Step 2. Next, click on “Add” button.
Step 3. Then enter your bank account details. Make sure you enter the correct bank name and MEPS bank routing code provided by PayPal. For these details, you can click on the “Details” link you see on the form below for the exact names and codes. Copy them to avoid being charge RM 15 for each rejected withdrawals.
Step 4. Review your bank account details. If all information are correct, click “Add Bank Account” to proceed.
Step 5. A confirmation message will indicate you have successfully added your bank account in Malaysia. You will also receive a confirmation message via email from PayPal.
Step 6. What is next? Withdraw your funds and be rich!
[...] learn more on withdrawing your PayPal funds to you local bank account, read my blog post here. addthis_url = [...]
That is a great guide. Thanks.
thanks for sharing this good news!
You are welcome. :)
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
hi Kafechew. Sure thing. You may also want to change your sentences a little so it looks more like yours :)
Thanks.
Thanks a lot~ following your blog :)
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I withdrawn my money with it however it shows the status in Paypal is complete however my Maybank account is still the same 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.
Hi Louis. I know a few have tried it. Apparently it will take longer than 3 days.
Thanks for the info. >.<
They shouldn’t write 2-3 working days. Kinda confusing to everyone.
I hope mine wont be rejected….
its kinda take a long time to withdraw to my CIMB.
i still didn’t get my cash.
huhu~
Hi,
Just share my first experience, i withdrawn on 01 Nov to my public bank account and i received money on 04 NOV today.
:)
I withdrawn on the 2nd and no news yet >.<
I Got a feeling that it got rejected.
Updated:
I got my fund already :) hehe
2 Nov and got it today 4 Nov :).
pling, Louis. Congratulations.
louis, which bank did you withdraw to?
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.
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
@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 ;)
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. :(
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.
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
haha ;) try it :) But if you try it today u will only know next week >.<
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
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!
oh yeah, i also got to know about the recject today too
ok so can anyone suggest which local banks to withdraw our funds to? i mean the ones that have been successful
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.
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
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?
SD, how did you do that? i want my RM15 back too!
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.
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
Hi Sharizal, just go to Contact Us and send them an email. Pretty fast action from them. Within a day. GOod luck !
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
me too. took about 4 working day. at last! thanks Guys!
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…..
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.
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.
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.
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.
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.
Hi Terry. You can refer to my blog post here.
can i ask,
the CIMB Bank debit card visa can use with paypal
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.
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?
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.
I see, thanks for the info.
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.
Hi Reen. You don’t need to change the main currency. You can withdraw any currency.
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??
Hi Arif. You can read my blog post on the differences between withdrawal to debit card and bank account here.
Is this the correct code for Public Bank: PBBEMYKL
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.
Sorry for asking…. I’ve try look everywhere of maybank code…. I wonder if you know…. cause it’s not in the list…
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.
Hi Burn. You can have a look here.
wow! how long does the verification process takes??
thx a lot! ur information gv hope to me!! haha
Just transferd to the Maybank account that i opened today, hope it goes well,
@Burn, its in the list look for “MALAYAN BANKING BERHAD”
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.
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.
Hi yuhyang1122. What verification process did you mean? To my knowledge, when you add a bank account, there is no verification process.
After adding my bank account (say maybank) to paypal, would i then be able to add funds TO paypal FROM my maybank account?
Hi Matthew. This funding method doesn’t apply to Malaysian banks at this time. You can do this in the UK or the US.
thanks a lot for all the time taken to publish these info.
they’re very valuable. :D
thanks again, mr. Malcom.
Hi calfred. Thank you.
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.
Hi Viknes. If you are withdrawing to your bank account and the name matches, then there shouldn’t be any problem.
i had linked my maybank account with paypal but it show ” checking account ‘ is it possible for me to withdraw the money ?
Hi John. Shouldn’t be a problem. Is your bank account a checking account or savings account?
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!!!
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.
hi ath. Don’ worry. At times it takes up to 3 weeks.
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.
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?
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.
hye malcolm,
when you said 3 weeks,did you mean 21 business days or 15 business days?
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. :)
whoa,guess I have to wait then..
thanks malcolm.
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.
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.
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.
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. :)
Just confirm from Maybank after my paypal transaction failed, the correct code is MBBEMYKL
hi malcolm,
would like to ask can paypal link to maybank (or other bank) current account?
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.
If i’m a paypal premier account holder, what the limit amount i can withdraw to my local bank account??
=============
Malcolm: Hi Willie. No limit if you want to withdraw to a bank account.
Hi Malcom,
Thanks for the very useful info about paypal and banking.
Fyi, I just registered with Paypal and I followed your instructions on how to link Maybank acc to paypal. However, I still got one thing that I’m uncertain about.
Do I have to verify my debit card? because it’s stated there
” Status: Unverified | Get verified “…
I clicked ‘get verified’ and I was told that they charge rm10 just to confirm the account is mine and they will return it back within 24 hours after the verification is done.
is it really necessary to verify my card or I should just straight away use my paypal and make online transaction? This is new to me and it is highly appreciated if you could help.
Thanks Malcom. :)
=============
Malcolm: Hi. It is extremely necessary to verify your card or you will only be allowed to make payment up to a certain amount to be determined by PayPal’s system. It is also for security reasons where PayPal wants to be sure you are the actual owner of the card and not a card which belongs to someone else. The RM 10 goes to your PayPal account which will be used as part of your next transaction. So your money isn’t lost.
[...] Check out how to withdraw Paypal from Maybank – Here [...]
Hi malcolm, I’ve recently withdrawn my paypal funds to maybank.
I noticed that you use “Malayan Banking Berhad” as your bank name.
I’ve used “Maybank” as my bank name instead. Will that be a problem?
=======
Malcolm: Hi Terrence. Thank you for your email. I have not tried but it should be ok. Most importantly your MEPS Bank Routing Code should be “MBBEMYKL”. Malayan Banking Berhad is the bank and Maybank is the shortform.
Hello, I need help to withdraw money to CIMB Bank form Paypa. My Question is that the surname is improtant when withdraw money ?
Hi Mahenthren. From my Malaysian experience so far, the surname is not important.
However, I will advice you to use the last part of your name in your bank account as your surname if you don’t really have a surname.
I withdrawn the money from my Paypal to Maybank. The status in Paypal changed from Pending to Complete by my balance in the bank remains the same. Is there a problem with it?
Hi Francis. No problem. Just be a little more patient.
hello there… i want too ask someting…
is there a way too transfer fund from My malaysia bank too paypal for topup???
i mean directed using a bank… not credit card.
TQ
Hi marol. Officially you can’t top funds to your PayPal account from any Malaysian banks. However, if you have RHB bank, you can send money from your RHB online banking account to your PayPal account. Hope this helps.
Hi there.
I withdraw the PayPal funds to my RHB Bank on Monday 14th and now is the fifth day. The status in PayPal was completed but now my bank account balance is still remains the same. I am worry about is there any problem…
Thank you.
Can I withdraw to my “saving account” as in Paypal website, it says “checking account” but I don’t have a cheque account..
Thanks
Hi there,
I withdraw my PayPal funds to my RHB Bank on Thursday 21 and now its the fifth day . Status in PayPal was completed but my bank account balance never show any funds coming in.. I am worry and urgent about the money … its like RM1k+ …by the way does PayPal works like this always?? its a no good thingy if it is….. Because they gave us promises around 2-3 business days… now that its overdue……. sigh* if this does always happen + the tax they charged for us transfering money quite high….this is a totally unconsiderable application to use…
Hi Malcom, now my RM10 is stuck in my Paypal. Whenever i buy something from ebay, they will straight away charge my card, they wont take my RM10 as part of the transaction. But in the past, the verification charges is $1.95, this is definitely going to be part of the transaction. Is there any idea to use up my RM10? Must I buy something that is in MYR currency only the RM10 will be consumed? coz so far what i always bought is in AUD and USD. Hope to hear from you! Thanks..
Hi Shuyan. You can buy something in MYR and get your RM balance use.
Hi Johnson. This is common. Please lodge a report with PayPal.
Hi James. Yes you can.
Hi malcolm, like to ask, do we need to have ample balance while making this transaction like RM25 or more in the bank account?
Thanks
Hi icute. You definitely need a balance in your bank account. For some savings account, the minimum at all times is RM 10. If you are using Visa Electron by Public Bank, then you should have RM 25 at all times and never lower than that after every transaction.
Hello, can you please confirm that the SWIFT CODE for CIBBMYKL
can be used for Alertpay as well? Please because i want to avoid chargeback.
==================
Malcolm: I don’t know about Alertpay but the SWIFT CODE CIBBMYKL is internationally recognized by all banks.
Mine is Australian Paypal which I created it when I was studying in Aussie. Now how to add funds (in RM) into my Paypal? Thank U!
Hi KC Yoong. Generally, you can ‘t add RM funds into your bank account unless you send money from a RHB online banking account.
That is actually not adding funds but sending funds.
hi malcolm,
i just link my maybank saving account to paypal. but in the paypal account detail page my saving bank is listed as checking account. would this be a problem for me. By the way what is the daily limit to withdraw from non verified paypal to malaysia saving account. thank you in advance.
Don’t withdraw money after tuesday coz your money will get stuck on saturday and sunday at the bank. Transaction only on working days so you will only get your money next week on next wednesday. You should know how bank staff in Malaysia works !
Best is to withdraw on Monday you get it on wednesday. Exactly 3 days. btw I have $200 paypal to sell at current rate no commision - just money for money.
Hello all,
I have a question here. When linking paypal to bank account, does the bank account type matter ? I have a CIMB basic saving account and would like to know whether it can be linked to paypal.
Thank you.
KJ,
Of course account type is important. Yes you can use your CIMB SA account with paypal. However you have to go through the account verification process first before it is accepted by paypal. This is a paypal standard procedure for bank transfer request.
Hi all…sorry i still noob about paypal….just wanna ask smthing…
1. how to top fund to paypal? is it by then that i put in the paypal or any other option??
2. do i need to convert the money from USD to RM or from RM to USD when i make transfer/withdraw??
3. which bank is better for paypal?? maybank, rhb, cimb??
==============
Malcolm:
1. You can top up via your PayPal account online. You will need online banking account.
2. No. Auto converted to your bank account’s currency.
3. Any bank.
Hi Malcom,
I have some GBP currency in my paypal. If I want to withdraw paypal funds to my RHB bank a/c do I need to change the GBP to RM or will paypal automatically change currency when withdrawing the funds.
I tried to change some RM funds I have in my paypal to USD currency but cannot. When I click “Manage Currency” -> under “Currency Exchange” I cannot select the RM currency under “Select Currency” option.
Thank you for your help and great work in helping people with paypal problems.
Cheers!
=========
Malcolm: It will automatically convert for you.
HI Malcolm, i have a question for you. I had top up my Paypal account from my Maybank account for about RM800. When i try to use the Checkout With Paypal button, its said that they cannot process the payment and try to use the regular checkout method. Does that means i need to verify my Paypal account cause when i try to verify it, Paypal say the informations are incorrect… Any helps??? Btw, im using an account called imTeen from maybank.
Hello Malcolm, my question :
(1) Is that our names in paypal important for money transfer ?
(2) If a user that have different name from his transaction bank acccount , Is that this can make trouble for wire transaction to my local bank account ?
I AM IN FIRST TIME TO WITHDRAW MONEY TO PAYPAL :)
================
Malcolm: Yes. Your names must match or the withdrawal will not be successful.
CORRECTION :
I AM IN FIRST TIME TO WITHDRAW MONEY FROM PAYPAL :)