Many of us PayPal users have been using USD as our primary currency in our PayPal account despite not living in the US.
If USD is the only currency in your PayPal account and you plan to store Malaysian Ringgit or other currency balances [Read more →]
Beginning October 14, 2009, your PayPal account can accepts payments in Malaysian Ringgit (Ringgit Malaysia). Yes, I am being honest! It is time to celebrate!
As a result of this positive development, Malaysian PayPal users will benefit from the following activities allowed by PayPal and Bank Negara Malaysia:
The feature to allow withdrawal of PayPal funds to our Visa debit cards will be continued.
This is a much awaited news for Malaysian PayPal users and merchants who wants to accept and pay in Ringgit Malaysia. This news was first made known by PayPal through their policy update on October 14, 2009 which you can read here (Due to time zone difference, beginning October 15, 2009 in Malaysia).
Stay tune on this blog for more updates and detail information on this new development in Malaysia!
Maybank has confirmed here (item number 7) that we can add our Maybank Visa Debit card to PayPal.
Previously, I added my Public Bank Visa Electron to my PayPal Premier account. Just this afternoon, I have successfully added my Maybank Visa Debit card to my personal PayPal account. Below are 3 steps to linking your card to PayPal.
Step 1. First, log into your PayPal account. In the “My Account” page, there is a “Notifications” box on your right. Click on the “Link and confirm my debit or credit card” link. [Read more →]
I think we will be rejoicing soon.
Maybank Visa Debit card + PayPal = More money on Malaysian soil!
Raki and sorensen who are readers of this blog have notified me on a link in our respective Maybank2u account where we can register our Maybank Visa Debit card for online purpose including adding it to our PayPal account. I have also came across the noticy by Maybank here.
If you logged into your Maybank2u account, you will see the link ”Maybankard Secure Online Shopping Registration” under the section “Utilities”. See the screenshot below.
I attempted to fill up the form [Read more →]
When PayPal began to allow Malaysians to withdraw PayPal funds back in early October 2007, the currency withdrawn to our Visa Debit Card or Credit Card was as it is. For example, if our PayPal balance to be withdrawn was in USD, that was the same exact currency and amount withdrawn to our Visa cards after deducting USD 5 per transaction. Visa does the currency conversion from USD to Ringgit Malaysia upon deposit.
Now, compare the 2 screen shots below.
Figure 1: PayPal funds withdrawal to Visa Electron in October 2007
The screen shot above was taken during my first withdrawal in early October 2007. In the screen shot below taken today, it stated the funds will be withdrawn in MYR (Malaysian Ringgit or Ringgit Malaysia). Notice the difference between the two?
Figure 2: PayPal Converts USD to RM First Before Transfer to Visa Electron
This means PayPal is not giving Visa any chance to earn from currency conversion! Many have complained the conversion rates offered by PayPal are lower than retail rates. But I guess we have to bear with PayPal for now.
