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Wednesday, December 26, 2007

Paypal Money.. come to Momma!

I finally did it. Actually my hubby finally did it. Opened a Al Rajhi Bank Account I mean. The process was effortless, no queue, no crowd. Perfect day at the bank. I decided to ask hubby to opened the account in his name so as to avoid complicated sign up, you know me being a foreigner and need work permit lah, copy of social visa pass lah.. so troublesome.

In fifteen minutes, all was done. The savings account was opened with only a minimum amount of RM20 needed but hubby ended up putting RM50 instead. We got the ATM cum debit visa card and we are set to go.

Upon reaching home, I switched on the computer, activated the internet banking, created a new paypal account for hubby and entered the debit card digits. All done in a breeze. I transfered USD105 from my own verified paypal account to hubby's account and was all ready to do that wonderful transfer to the debit card. Now to let you know, I've been withdrawing my earnings from my paypal account to my Singapore bank account without any hiccups so I did not need to do this but since I decided I want to spend my earnings here in Malaysia and if I were to withdraw from my SG account here using the ATM, I would lose out in terms of the currency rate, hence this exercise.

Anyway, after reading so many positive reviews and ease of this particular exercise, I thought why not. So I clicked on the withdraw tab, entered the amount USD105, $5 being the withdrawal fee and hit Enter. And what do I see:


After checking and rechecking and after confirmation with Marzie, it seems I need to get this paypal account verified first using my, well in this case, hubby's normal credit card. A verified account would not encounter this problem as there are no withdrawal limit. See no one told me that. And also you can't verify your paypal account using a debit card. Believe me, I try..lolz

So here are tips on a successful transfer:
  1. After creating your Malaysian paypal account, immediately verify it using your credit card. This process would take take between 2 to 3o days. Two days if you have access to your credit card account online and thirty if you only receive your statement via normal mail. This is because to verify your account you need what paypal refer to as "Expanded Use Number" which can be found on the transaction detail of your credit card charge
  2. One note on setting up your account. Please make sure that the name you used to sign up with paypal is the same as your bank, credit and debit card account. This is to avoid any unnecessary complications later.
  3. Then in my case, open up a Al-Rajhi Bank savings account. You only need RM20 to start and you'll get your debit cum ATM card immediately upon application. Activate your internet banking if you so desire at their ATM machine.
  4. Then log into your paypal account. Enter another credit/debit card number which can be found in your profile and withdraw away. Remember not to withdraw too much on your first transaction, coz I read somewhere, paypal might freeze your account or something. So remember go slow!
Good luck!...



Related Post:
Withdrawing funds from Paypal - For Singaporean
Paypal and You

4 comments:

  1. Morning LJ! So glad u got ur acct already, eh but how come 20 bucks minimum ah??? They told me 200 mah!! :(

    ReplyDelete
  2. GP... Actually I read at their website on RM20 and then when you say RM200 I was like.. alamak... so I called them and they say RM20. Then when we read the TOS at the branch, again it say RM200 so we went Alamak yet again. We ask the receptionist and she confirmed RM20 only. RM200 is if you are applying for loan or financing.. and you need to open a savings account to service the loan, then the opening amount for that one is RM200...

    Anyway.. yeap waiting for my Enhanced digit and off I go... thanks for your help ya dearie...hugs and muahssss!

    ReplyDelete
  3. Aiya! Really la this Al-Rajhi... I know I can easily take out the 200 later but it was the hassle of finding a working ATM that day to take out the 200 for the deposit. Or not I could have gone straight to the bank with 20 bucks!! Nevermind, janji PPal money selamat masuk he he he... :):):)

    ReplyDelete
  4. heheh GP.. I know what you mean..but nevermind lah.. done pun...eh you got your money already kan??

    ReplyDelete

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