How to Send, Receive and Withdraw from Paypal Malaysia
Paypal users in Malaysia have been subjected to unfair policies since 10th May 2007. There has been no news on whether this policy will be permanently imposed on us.
However, there are a few ways to have a proper functional Paypal account. VMI Bank Account is one of them. It is discussed and proper instructions can be found at hongkiat.com, a fellow blogger who are kind enough to share the knowledge. However, there are a lot of fees that are imposed on the VMI Bank Account that makes it not quite worthwhile for small timers.
The other more desirable way, in my opinion at least is the E*Trade Checking Account.
Account Features
- Free, unlimited online bill payments
- Free ATM/Visa® Debit card
- Unlimited Debit card and check transactions
- Free initial checkbook order
- Online images of cleared checks, deposited checks, and deposit slips
- FDIC insurance to at least $100,000
Account Minimums
- $100 minimum initial deposit required
- No account minimums are required to maintain this account
Costs and Fees
- No monthly account fees
The E*Trade Checking Account can be applied through mail. Application forms can be printed online. The whole process is simple and takes less than one week if proper documentation is submitted. A photocopy of your Passport and MyKad is the only requirement needed for identification. Activation is standard procedure as normal for use in Paypal.
I believe there are other ways but E*Trade Checking Account is the best so far. If you have differing opinions, please share. There have been many ebooks written on this subject since and payments are often required for the information. Heaven forbids if anyone were to copy and turn this into an ebook and charges for it.
I hope this article will not be misused by crooks that Paypal wanted to rid by implementing the said policies, else more drastic actions are in store for us.
Happy Paypalling!
Miserable and Irritatable
May 16th, 2007 at 10:53 pm
Based on the e-book authored by Matt Ng, it is said we only need to deposit 10 USD into the E*Trade account if we follow his methods and steps correctly. I already submitted my form to E*Trade Hongkong Branch yesterday via Pos Laju.
May 17th, 2007 at 1:21 pm
anthraxxxx: hope everything goes well for you.
May 17th, 2007 at 1:33 pm
yup,
thanks headwind for your good opinions. i like it. feel free to share more about this here.
May 17th, 2007 at 2:10 pm
headwind, no monthly fees for the 1st year, after 1 years, we need to paid 40 usd quaterly. Correct me if I m wrong.
May 17th, 2007 at 5:20 pm
Louiss:
This is a non-interest bearing checking account.
E*Trade Checking Account is a new account type started on 8th March 2007.
I believe there is no monthly fees and no annual fees.
All info on rates and fess can be found at the site.
btw: thanks for dropping by.
May 17th, 2007 at 6:10 pm
My sister lives in the US and has tried to apply for E*trade. However her application got rejected - don’t know why.
So instead, I got her to apply PayPal for me using her credit card and bank account. Got the PayPal debit card approved and waiting for it now.
May 18th, 2007 at 4:46 am
Thank you for sharing. We Malaysian should use the legitimate way and not using the fake account method suggested by a fellow blogger. Such practise tarnish the image of Malaysia which is already facing so many restrictions.
I am going to apply for a E Trade or VMI Card.
May 18th, 2007 at 8:03 pm
Flsam, I agree with you.. legitimate way ! I would rather spend a bit money on VMI than risk being suspended by Paypal.
By the way, I applied for etrade last month, still waiting for the starter kit. I have already called up etrade trying to get account details first but was told that there is no record yet.
Like VIM card, we can call etrade to get account details to login our account.
May 19th, 2007 at 3:13 am
Andrew:
how I wish I have a sister in the US
flsam:
we Malaysians need to think more on what is right or wrong instead of the easiest way out.
Vedis Teh:
a suspended account with money in it is worst than an account that cannot receive payments. All the best on your E*Trade card.
May 19th, 2007 at 7:14 pm
sigh, when i received the email reply from paypal, i was so relieved..now after reading yr post, i realize it is jus using a technical hitch as an excuse
However I believe they have to make a decision soon. I am sure they r aware of the implications if we cant receive and said payments sent back.
May 20th, 2007 at 11:28 pm
But I don’t understand they want to impose these policies on International members…
May 23rd, 2007 at 11:32 am
I recently bought a VMI card on ebay for $4.99 and it is phenomenal. The shipment was spectacular. The ebay item number is: 200112183974. The seller is super nice. Good luck and I hope this helps.
May 23rd, 2007 at 11:58 pm
Bengbeng,
whatever decision it is, hope they make it fast.
Deng,
Reasons is bcos there’s too many crooks around.
CAW,
Thanks for letting us know.
May 25th, 2007 at 10:28 pm
Paypal is fixed
June 10th, 2007 at 9:05 pm
Etrade has a SWEEP FUNCTION, so it works like a Interest Bearing checking acct if you don’t need to write checks on it..just like RHB My1 acct etc.
VMI still charges alot ..so what is $100 when U get back the money….
Forms and guides again….free from me.
azrin @ http://www.azrin.net
June 14th, 2007 at 8:45 pm
azrin,
thanks for sharing