Paypal Withdraw To local Banks

Paypal Withdraw To local Malaysia Bank

From 2010, Malaysian PayPal users can withdraw or transfer money from PayPal accounts to local banks. It takes 2 to 3 working days and no charges are incurred if the transfer is more than RM400. If less than RM400, a RM3 charge will apply. This method is faster, more efficient, and easier than the old method, which withdraw to a debit card or credit card. Almost all local banks can accept transfers from PayPal, including Maybank, CIMB, BSN, and others.


How to Withdraw From PayPal to Malaysia Local Bank

Log in to PayPal, then click withdraw and then choose withdraw to bank account.



After that, you are asked to fill in the Bank Name, Bank Swift Code, and your name.
Below is the bank name and their swift code:


Bank Name     Swift Code
AFFIN BANK BERHAD = PHBMMYKL
ALLIANCE BANK MALAYSIA BERHAD = MFBBMYKL
AMBANK BERHAD = ARBKMYKL
BANK ISLAM MALAYSIA BERHAD = BIMBMYKL
BANK KERJASAMA RAKYAT BERHAD = BKRMMYK1
BANK MUAMALAT BERHAD = BMMBMYKL
BANK OF AMERICA = BOFAMY2X
BANK SIMPANAN NASIONAL = BSNAMYK1
CIMB BANK BERHAD = CIBBMYKL
CITIBANK BERHAD = CITIMYKL
DEUSTCHE BANK = DEUTMYKL
EON BANK BERHAD = EOBBMYKL
HONG LEONG BANK BERHAD = HLBBMYKL
HSBC BANK MALAYSIA BERHAD = HBMBMYKL
MALAYAN BANKING BERHAD = MBBEMYKL
OCBC BANK (M) BERHAD = OCBCMYKL
PUBLIC BANK BERHAD = PBBEMYKL
RHB BANK BERHAD = RHBBMYKL
STANDARD CHARTERED BANK MSIA BHD = SCBLMYKX
THE ROYAL BANK OF SCOTLAND BERHAD (RBS) = ABNAMYKL
UNITED OVERSEAS BANK = UOVBMYKL


Please make sure that your bank account information is correct. If your bank account information is incorrect (bank name and bank swift code and your bank account name), PayPal will charge you RM15.
If your PayPal account is a Premier account, make sure you enter your name the same as your account bank name. If you use a PayPal Business account and the business contact name is not the same as your bank account name, you must change it before you withdraw.
There are two ways to change it: Either change your Business PayPal account to a Premier PayPal account or change your Business PayPal account business contact. The second way is easier.
To change your Business PayPal contact name, click the Profile menu as shown below:




Then click Business Information as shown below:



Then edit your Business contact name. Make sure it is the same as your local bank account name.
After finishing, log out from your PayPal account, then log in again. Add a new bank account, and then you can see the new name appear. If you already added the bank account before but with your old name, just remove it and add again. It will take just 2 to 3 business days to make a withdrawal to your local bank account. After you succeed, you can change back your PayPal Business name if you want; just follow same steps above. Good luck.

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