Guide: How Malaysians can withdraw directly from Paypal

Malaysians have been unable to withdraw money directly from PayPal, likely due to a surge in credit card fraud several years ago.

For months, I’ve successfully withdrawn money from PayPal using a debit card. Though the process is free, you’ll need to buy the card. Here’s how it works: trial and error in real life has shown me the way.

In a nutshell

Malaysians can use PayPal for most transactions, but cannot withdraw money directly to their local bank. To get around this, a third-party debit card can be used as an alternative solution.

Registering with an online bank recognized by PayPal and receiving a debit card allows you to transfer money from PayPal to your account and withdraw it in local currency at most ATMs displaying the Cirrus or Pulse logo.

What is a VMI ATM card

Hundreds of thousands of people in Asia are already taking advantage of the convenience and security offered by Virtual Money ATM cards. With these cards, users can withdraw cash in local currency from any ATM with a Cirrus or Pulse logo, as well as most international ATMs in Asia with a Cirrus/Master card logo.

How to buy and how much VMI ATM card cost?

VMI ATM cards are available for $25 each, plus shipping.

USPS offers a range of shipping options, with varying delivery times and prices. For $3, customers can receive their package via regular mail service in the US. For $8, they can get it in about a week and a half via Global Priority. Express delivery within the US costs $20 and takes about a week, while UPS Express costs $40 and arrives in three business days with tracking.

1. Application of VMI ATM card

To apply for the VMI ATM card, email Millie at millie[at]mooncash[dot]com with the title ‘Application of VMI ATM Card’. Include your shipping address in the email and send $25.00 USD plus shipping to Paypal account moonlover[at]aol[dot]com. Once payment is sent, notify Millie via email to receive more information about the card and its requirements.

2. Arrival of card and activation

Millie at Mooncash is requesting activation information, including virtual card number, first and last name, date of birth, phone number, address, city, state/province/region, zip code/postal code, country of residence and government ID number. Additionally they need a phone number and email address.

You can now access your My card by scanning a copy.

Look out for an email from your card provider to activate your card.

3. Activate VMI bank account

Activating an account unlocks the next steps.

Visit VirtualMoneyInc.com and activate your card to get started. Follow the steps until you have completed the process, and remember your 4-digit PIN for future ATM withdrawals. Once logged in, take some time to familiarize yourself with the account.

4. Transfer from PayPal to VMI bank account

To withdraw money from your PayPal account, log in and click “Send Money” to your bank account. Carefully fill out the form with the bank name (Southwest Bank), account type (checking), routing number (111900756) and account number (8 plus the last nine digits of your card number). Re-enter the same information for verification. The transfer should be completed within 3-4 days.

5. The moment of withdrawal

After transferring $300 USD from PayPal to a VMI bank account, you will be charged a $2 transaction fee. You will receive $298 USD in your account, provided that you have at least $10 USD in your balance. To confirm the transfer, check your VMI bank account two to three days later.

Transferring money from PayPal to VMI Bank Accounts results in a $2 USD fee. After the first transfer of $300 USD, you will receive $298 USD in your bank account after 3 days and can withdraw $288 USD. Subsequent transfers of up to $500 USD will result in the full amount being available for withdrawal.

The bank is accused of charging customers for every transaction, including balance requests, incorrect PIN entries and withdrawals. This has been highlighted to emphasize the potential financial impact on customers.

Transaction costs

Using an ATM or transferring funds from a card to a bank account can incur fees. In the US, an ATM withdrawal costs $1.80 and a denied request is charged $0.50; internationally, cash withdrawals cost $5 and declined applications are charged $0.50. Additionally, transferring funds from one card to another incurs a fee of $2, while transferring money from a card to a bank account or vice versa costs the same amount. Finally, cashing out with a check carries an additional fee of $4.95 per month plus the cost of maintaining an account ($2.70).

How to withdraw with minimal cost

Log in to your VMI account online and check your balance in the currency of your choice. This will give you an idea of how much you can withdraw. For example, if you have $298 in your account and a balance of $10, you can withdraw $288 USD/RM1010. Then head to the nearest ATM and withdraw RM1010. Keep in mind that checking your balance online is free, but there may be fees for using an ATM. Before running off to the ATM, take a look at the pictures below for a step-by-step guide on how to make a withdrawal - these are actual photos taken during one of my withdrawals.

When shopping for a new car, be sure to keep an eye out for the Cirrus logo. This symbol of quality and reliability is a sign that you’re getting a great vehicle.

This map site offers an up-to-date view of the world.

ATMs may require users to enter a 4-digit PIN code and press Enter to complete their transaction.

People can now ensure they are receiving the correct amount of money by confirming their payment.

Don’t be intimidated by the length of this post. It’s not as complicated as it looks. I’m making it long to ensure you don’t get lost or stuck in the process. If you need help, I’m here for you. If this guide helps, please share it with others - knowledge like this should be free! Make money online with ease.

VMI Card has increased in price from $25 to $30, and customers should be aware that purchasing the card from other vendors is done at their own risk.

How Malaysians can withdraw directly from Paypal: benefits

Faq

Final note

Malaysians can now withdraw money directly from their Paypal accounts, thanks to a new guide. If you have any questions about the process, feel free to reach out for help. Spread the word and share this article with your friends!

For those seeking help with withdrawing from PayPal in Malaysia, we offer assistance through our comment section, contact page, and social media accounts. This guide is for educational purposes only. If you have any corrections or additional methods to add, please contact us. We respond to questions within 24-48 hours (weekends excluded). For the latest software updates and discussion about any software, join our Telegram channel.