PayPal mentioned in its recently updated policy that Malaysia is one of the new countries that would be able to have PayPal funds withdrawn directly to a local bank account. Well, it's 17th October, 2009 today, and I just logged into PayPal and see no such feature YET.
One of my blog readers told me that he called up PayPal to ask about it and the customer service representative who fielded his call told him that since this is something new, PayPal needs a little more time to implement it and we should see the feature in our PayPal account in a couple of days' time.
It IS a couple of days' time now already and it is still not available yet. The customer service representative also mentioned that there will be fees imposed on this new service and it will be 2.5% of the amount withdrawn but the good news is that there will be no daily withdrawal limit. The current limit to withdraw to our VISA card is US$500 per day.
I think that 2.5% is a tad too hefty and it wouldn't make much of a difference if we were to withdraw more or less since the fees imposed is in percentage unlike the current fee of US$5 (now MYR20) per withdrawal. Anyway, I am not so sure I am looking forward to this convenience now!
One of my blog readers told me that he called up PayPal to ask about it and the customer service representative who fielded his call told him that since this is something new, PayPal needs a little more time to implement it and we should see the feature in our PayPal account in a couple of days' time.
It IS a couple of days' time now already and it is still not available yet. The customer service representative also mentioned that there will be fees imposed on this new service and it will be 2.5% of the amount withdrawn but the good news is that there will be no daily withdrawal limit. The current limit to withdraw to our VISA card is US$500 per day.
I think that 2.5% is a tad too hefty and it wouldn't make much of a difference if we were to withdraw more or less since the fees imposed is in percentage unlike the current fee of US$5 (now MYR20) per withdrawal. Anyway, I am not so sure I am looking forward to this convenience now!
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