Recently quite a lot people talking about withdraw PayPal fund to Malaysia Local Bank, and some commented that the conversion rate will be slightly lower. I have made a cash out of USD$500 to my local bank account, and another USD500 to my public bank Visa Debit.
Due to my plan for honda civic 2010 have expedite 2 months earlier, which is an end of this month will arrive, I will face my own financial crisis at this moment 😛 I have to get enough cash as down payment for my new Japanese wife, plus some huge credit card bill from last month (expenses for budget langkawi trip), life insurance, and other bills all come at the same time, So no choice for the low conversion rate either.
How to withdraw PayPal fund to Malaysia Local Bank
1st, you require adding bank,
You require putting your bank swift code, and also your name and bank account correctly. Surname and name sequence does not matter, as long your full name is there. After filling up all, hit “Continue”
here is the list of Malaysia Bank Swift Code you can use.
Affin Bank Berhad -> PHBMMYKL
Alliance Bank Berhad -> MFBBMYKL
Ambank Berhad -> ARBKMYKL
Bank Simpanan Nasional -> BSNAMYKL
CIMB Bank Berhad -> CIBBMYKL
Citibank Berhad Malaysia -> CITIMYKL
EON Bank Berhad -> EOBBMYKL
Hong Kong Bank Malaysia Berhad -> HBMBMYKL
Hong Leong Bank Berhad -> HLBBMYKL
Malayan Banking Berhad -> MBBEMYKL
OCBC Bank Berhad -> OCBCMYKL
Public Bank Berhad -> PBBEMYKL
RHB Bank Berhad -> RHBBMYKL
Standard Chartered Bank Malaysia Berhad -> SCBLMYKL
United Overseas Bank Berhad -> UOVBMYKL
Visit this link you interest to know more about what is Malaysia Bank Swift Code
Hit “Add bank account” if all the details are correct.
Withdraw Fund to Malaysia Local Bank
After finishing adding bank into your PayPal account, you can now click on withdraw, here is the fees for the withdrawal, if you manage to withdraw more than RM400, the fees will be waived. Click on “Withdraw to your bank account” then just key in how much money you want to cash out.
Put in the amount of cash out, and verify your bank account number (4 ending digit) and hit “continue”
Over this section, it will mention on how much the conversion rate. I have checked at local newspaper conversion rate during I cash out; it was around 3.38, but over here provide 3.33 only.
Over here, it stated that require 2 to 3 business day to process the cash out, and for cash out PayPal fund to visa debit card, it require 5 to 7 day business day. So which one better?
To Bank or to Visa Card?
In term of processing days? conversion rate? Without waiting much, I have try to withdraw to bank and to visa debit card at the same time, each USD$500, and let’s see which one faster, and which one better rate!
Withdraw Paypal fund to to Visa Card
Same step at withdraw fund section, click on ” Withdraw funds to your card”
Key in the amount you want to withdraw, maximum only USD$500, and deduct USD$5 processing fees, the total you withdraw will be $495 only
After cash out PayPal fund to Malaysia local bank account and also cash out to Visa Debit Card, lets wait and see which one can get higher balance in my account 😀