I went to CIMB to enquire for a debit card and the officer referred the matter to their HQ. Being a regular at CIMB, Komtar, the officer, En. Jalil is a very nice guy who often advise me on their products. I only do one thing in CIMB – that is to turn my online income to FD. Muahahar, I never spend a cent of my income. That’s the privilege of being a married woman. I only save. Spending money = husband’s money.
So, En. Jalil wasn’t sure what PayPal is and he promised to get the right officer to phone me. They did phone and told me that CIMB only issue Mastercard debit card and they only accept MYR. This means, CIMB is not the bank which you can cash out your PayPal through debit cards.
I have my VMI card and I refuse to use it because I don’t want to risk getting my funds frozen.
The other choice is to open another bank account like Public Bank or that Al something bank, (the Arab bank?) which issues debit cards.
My question – Has anyone cashed out your PayPal with a local Malaysian bank?
If yes – How much is the charges? What is the exchange rate?
I know a few people have used their credit cards to transfer their PayPal funds. One of them is HSBC credit card. I tried with UOB credit card but it doesn’t accept PayPal fund. My friend reminded me NOT to transfer the PayPal into your credit card if you are thinking of withdrawing the money because they credit card will charge you an exhorbitant fee of 5%.
So, someone please tell me the charges imposed for transferring your PayPal funds to local banks debit cards. I am not sure if I am going to go Pubic bank to open an account there. I do not like Pubic bank. LOL. As for the Al something bank, we have very few branches so it is not convenient as well.