Category Archives: Paypal

Paypal Withdrawal Limit Increase For Malaysian

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Do you know why I like Paypal? The reason why I choose it for my main Internet payment gateway is because it’s convenient to sending and receiving money. Besides, I always use it to purchase some items online and receive payment.

It’s good news for Malaysian since the Paypal withdrawal limit is increased from previous US$500 to US$2500. Previously, the withdrawal limit was only US$500 with a service charge of US$5 per transaction. So, if you calculate precisely, the service charge will be 1%.

Paypal Lift The Withdrawal Limit From US$500 to US$2500?

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Know The Basic Rules of Paypal Before Making Online Purchase

I have received an email from my reader who asked me about online buying stuff. He asked me whether still could contact Paypal or Western Union get back the money if the item was not received or shipped by seller.

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Based on my understanding, i think the person need to lodge a complaint to PayPal within 30 days. If they investigate and find it is true, then you should get back your money. BUT with the condition ONLY IF the seller has not withdraw money out of his account! So, PayPal is NOT 100% safe for buyers.

How Does Paypal Works?

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How Paypal Calculate Exchange Rate?

As you known, Paypal is worldwide acceptable Internet Payment Gateway. And it provides us more comfortable and trustable way to do online transaction.

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Back to 3 months ago, I made a $500 withdrawals direct to my Public Bank debit card. And I checked the bank exchange rates (USD->MYR) for that day was 3.18. The exchange rate that appeared on my credit card bill was 3.15 only. That’s an average of 0.03 differences for that transaction. This means that PayPal will straight away convert our withdrawal amount (maximum withdrawal of US$500 per day) to Ringgit at their own lower USD/MYR currency exchange rate. Besides, Paypal also charges $5 withdrawal fee.

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How to Withdraw Paypal Fund?

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As everybody known, you can easy withdraw your Paypal fund to debit card, or prepaid cards. The process only involves 3 steps.
i. Log into paypal
ii. Specify the amount to withdraw and the card to credit.
iii. Receive funds on your card

It’s good news especially for Malaysian PayPal members who can only send or receive PayPal funds previously but not have an idea on how to withdraw funds.

Besides Malaysia country, it’s also available now in some other countries like Argentina, Brazil, Bulgaria, Chile, Iceland, Indonesia, India, Israel, Italy, Philippines, Romania, Turkey, Uruguay and so on. Continue reading