Malaysian banks accepted by PayPal

Below are Malaysian banks which are accepted by PayPal. The list include a number of foreign banks with branches in Malaysia. The “MEPS Bank Routing Code” and “Bank Name” are required when you add a bank account in your PayPal account.

Bank Name MEPS Bank Routing Code
AFFIN BANK BERHAD PHBMMYKL
ALLIANCE BANK MALAYSIA BERHAD MFBBMYKL
AMBANK BERHAD ARBKMYKL
BANK ISLAM MALAYSIA BERHAD BIMBMYKL.
BANK KERJASAMA RAKYAT BERHAD BKRMMYK1
BANK MUAMALAT BERHAD BMMBMYKL
BANK OF AMERICA BOFAMY2X
BANK SIMPANAN NASIONAL BSNAMYK1
CIMB BANK BERHAD CIBBMYKL
CITIBANK BERHAD CITIMYKL
DEUSTCHE BANK DEUTMYKL
EON BANK BERHAD EOBBMYKL
HONG LEONG BANK BERHAD HLBBMYKL
HSBC BANK MALAYSIA BERHAD HBMBMYKL
MAYBANK (MALAYAN BANKING BERHAD) MBBEMYKL
OCBC BANK (M) BERHAD OCBCMYKL
PUBLIC BANK BERHAD PBBEMYKL
RHB BANK BERHAD RHBBMYKL
STANDARD CHARTERED BANK MSIA BHD SCBLMYKX
THE ROYAL BANK OF SCOTLAND BERHAD (RBS) ABNAMYKL
UNITED OVERSEAS BANK UOVBMYKL

PayPal Funds Withdrawal to bank account is cheaper than withdrawal to credit or debit card

For countries besides the United States, PayPal generally charges lesser for withdrawal of your PayPal funds to your local bank account in comparison to withdrawal to credit or debit cards. Below is a brief comparison for Malaysian PayPal users.

Withdraw to Credit or Debit cards Withdraw to Malaysian Banks
Maximum Daily Limit USD 500/day Unlimited
Withdrawal Fee RM 20 / withdrawal or USD 5 / withdrawal depending on currency Free for RM 400 or more. RM 3 / withdrawal for amount lesser than RM 400.

To learn more on withdrawing your PayPal funds to you local bank account, read my blog post here.

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. [Read more →]

Add funds to PayPal from credit card or debit card

Many of my blog visitors have often enquired if PayPal users can transfer funds from our credit or debit card to PayPal. The answer is no and yes.

Funds are only transferred from our card to our PayPal account when a specific payment is made using PayPal and our card is our funding source in PayPal for a specific payment. [Read more →]

Add New Currency Balance in PayPal to avoid Currency Exchange Losses

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 →]