Blogging For Money

This should be good news for a majority of Malaysian PayPal account holders who do not have the VMI card in order to withdraw their funds from PayPal without printing anything. It seems that PayPal has now allowed Malaysians to withdraw their funds from their PayPal accounts directly to their credit/debit card with the appearance of a second option in the “Withdraw” options menu, although the process will take between 5 to 7 days and a fee of USD5 will be charged.

If you have a credit card when verifying PayPal, I doubt this feature will be of much use, however. Thus, you are encouraged to switch to a debit card, e.g. Public Bank Visa Electron debit card. A Malaysian blogger has written a step-by-step guide on how to withdraw the funds to your debit card.

For me, I will still continue using my VMI card although the fees are certainly much higher, i.e. USD2 for withdrawing to the VMI card and another USD5 when withdrawing from the ATM machine, which makes it a total of USD7. Why? Because its faster for me and the process takes only three days. Plus, the VMI card acts just like an actual US bank account, which thus allows me to receive funds directly from other banks in the US via a direct deposit or a EFT bank transfer.