Is that even legal?

Besides, the other central bank that Paypal must deal with is the Federal Reserve System, assuming that their base of financial transactions is in the U.S.A. with its laws.

“paypal told me can’t do it coz of country and bank rules and regulation. I called bank negara yet they said there is no limit to bring in money.”
“Now i do not know whose policy to have such withdrawal limitation. Our country or Paypal themselves who’s playing the who thing.”

Judging on the things I readed, it’s probably Paypal who set the limit.

Bank Negara most likely would want the appropriate documentation and a commission fee, plus the required requirements set by the ‘world / international’ ‘community’ so that Malaysia isn’t excluded by them. Of course unless the ‘world / international’ ‘community’ say no Paypal for Malaysians.

I think the reason Paypal set a withdraw limit, is this: If there’s no withdraw limit (either a low amount withdraw limit or no withdraw at all for an entire country), then accounts of companies like Paypal, Google, and so on can be quickly withdrawn up to the point of being overdraft, so they devise ways to delay the transfer of funds.

Malaysians and people like them (Chinese, Indians, Indonesians, etc) are quite smart and swift in making a profit (and that’s just by using the honest way, not the dishonest way), so if the withdrawers are many and the withdrawn amount is high, can you imagine on what will happen to the accounts of these companies?

And maybe also they were ordered by their superiors to not send money to certain regions (unless it’s ‘aids’ of course , maybe they’re affraid that Malaysians will become even richer then outcompete them?

Anyway. Visa and Mastercard themself regulary set a daily transaction limitation of U$500 on a single regular card account, so it’s most likely Visa and Mastercard who set the U$500 limit, NOT the country nor the bank.

“Anyhow, that lady from bank negara customer service centre does not even hear of Paypal and asked me to verify if Paypal is reliable.”

There, is Paypal even legal or trustworthy enough if the central bank of a country don’t even heard of it?

You might as well use hawala to transfer money, at least they’re way more honest, friendly, and reliable.

How do you lift the limit ? paypal told me can’t do it coz of country and bank rules and regulation. I called bank negara yet they said there is no limit to bring in money. Anyhow, that lady from bank negara customer service centre does not even hear of Paypal and asked me to verify if Paypal is reliable. Now i do not know whose policy to have such withdrawal limitation. Our country or Paypal themselves who’s playing the who thing.

Kinda fed up….