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Some months back I heard rumour stating by the end of year 2007 PayPal will open up a withdrawal option for Malaysia account holders to withdraw its money locally. This rumour is indeed proven to be true and came sooner than I expected.

The official PayPal Blog announced that PayPal’s now offers account balance withdrawals to Visa-branded credit, debit, or prepaid cards in 26 international markets. Malaysia is listed in it.

The withdrawal is very simple and can be accomplished through an easy 3-step process.

This new feature is particularly valuable to PayPal account holders in markets where customers could use PayPal to send money, but had limited ways to receive or withdraw funds. A good example is Malaysia. In the past, customers in Malaysia could only fund, send and receive their money but only can withdraw via a U.S.A banking account. Now, Malaysian account holders can withdraw money in a secure environment and have their funds available for online and offline purchases using their preferred Visa card or debit card.

Please take note that for local Malaysia withdrawal, there will be a daily withdrawal limit imposed on your account. You can check your limit in your account.

Step to check your PayPal daily withdrawal limit :

1. Login to your PayPal account

2. Click on “My Account” and then “Overview”

3. Click on “View Limits”

With these new PayPal withdrawal option opening in Malaysia, the local Malaysia payment gateway service provider should had felt strong competition coming their way. Hopefully the local players will revise their current heavily priced service and monthly maintenance fees in order to remain competitive in its market.

PayPal’s are constantly evaluating new functionality around the globe, so stay tuned and visit their PayPal Offerings Worldwide page for updates.

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