PayPal Service Fee: From US$5 To MYR20

PayPal mentioned in its policy update recently that with effect from 14th October, 2009, Malaysians will be able to withdraw our PayPal funds directly into our local bank accounts. I waited patiently for this day to come and was pretty excited about the many Malaysians who would now be able to access their PayPal funds if they do not own a Visa debit or credit card.

Even though I have so far been withdrawing my PayPal funds without serious problems, I was still looking forward to today and logged into my PayPal account to look for the new, positive changes to the website.

Buy cheap Viagra online

Unfortunately, until now, I have yet to spot anything different except that instead of being charged US$5 per withdrawal to our Visa debit or credit card, we are now charged MYR20 per transaction instead. This certainly isn’t what I expected, or were informed about in PayPal’s policy update. This is still just a withdrawal to our Visa debit or credit card; NOT into our local Malaysian bank account.

Also, being charged MYR20 now instead of USD5 per transaction means that we are being charged MORE even though at this rate that the American dollar is sliding. And I find it rather ridiculous that the minimum withdrawal amount for Malaysians in Ringgit is MYR40. Who would want to withdraw MYR40 and paying MYR20 for it, and in the process only getting MYR20 in the end? cialis generico sublingual

Be Sociable, Share!

7 thoughts on “PayPal Service Fee: From US$5 To MYR20

  1. I was surprised to see that fees – MYR20 instead of $5. And Paypal exchange rate is like 3.2 something instead of current 3.3. Bloody hell.

    I was searching to add Malaysian bank account but still says US bank account.

    And if you read the policy update properly, it stated “Several of these currencies are restricted currencies and not all PayPal features will be available with regards to a restricted currency and not all customers will have access to restricted currencies.”

    So, not all customers have that access. What the hell?

    I’m gonna call them tomorrow and see if I could get it working.

  2. Well, I just called them up. They said the policy was just effective and the feature of adding Malaysian bank account will be available “in a couple of days” – Don’t know if it’s just excuse or anything. Haha

    So, hopefully we’ll see it in “a couple of days” 🙂

  3. Yeah, to my Visa card. But you know, just $500 limits/day.

    Also, the guy on Paypal told me there will be 2.5% fees to withdraw to Malaysian bank account and no withdrawal limit of course but still quite a hefty fees though.

  4. That’s hefty indeed. Hope we still have the option to withdraw to card so that we can choose to withdraw to either one that we lose the less, depending on withdrawal amount.

  5. Yeah, but also with RM20/day fees per withdrawal. So it will be 20 x 30 = RM600.

    Not including the Paypal USD exchange rate which is at 3.2

    Basically you probably lose RM1000-RM2000 on Paypal fees alone ($15k withdrawal) per month which is kinda sucks.

    Hopefully Malaysian bank account will be added soon but that will come with charge also on per transaction but at least no limit on withdrawal.

Leave a Reply

Your email address will not be published. Required fields are marked *