Following the great news about Paypal, . Malaysian users can now withdraw their PayPal money directly to their Malaysian Bank Accounts through MEPS. (21 total banks in Malaysia is supported)
The transaction will take up to 2-3 days, and a fee of RM3 will be charge if your withdrawel is below RM400. If your withdrawal is above RM 400, no fees will be charge.
The default withdrawal limit is RM2000 a month. You can lift this limit once you link and confirm your credit card on PayPal.
Below is a step by step guide on how to withdraw funds to your Malaysia bank account.
Login into your Paypal Account and click withdraw
Once your inside the withdraw window, click “withdraw to your bank account”
Key in your bank account information carefully. If you don’t know your bank routing code see below.
Check if your bank information is correct before you “Add Bank Account”. A return fee of RM 15 will be charge if the information you provide is incorrect or does not match.
Finally specify the amount you wish to withdraw and click “continue”
| Bank Name | MEPS Bank Routing Code |
| AFFIN BANK BERHAD | PHBMMYKL |
| ALLIANCE BANK MALAYSIA BERHAD | MFBBMYKL |
| AMBANK BERHAD | ARBKMYKL |
| BANK ISLAM MALAYSIA BERHAD | BIMBMYKL |
| BANK KERJASAMA RAKYAT BERHAD | BKRMMYK1 |
| BANK MUAMALAT BERHAD | BMMBMYKL |
| BANK OF AMERICA | BOFAMY2X |
| BANK SIMPANAN NASIONAL | BSNAMYK1 |
| CIMB BANK BERHAD | BSNAMYK1 |
| CITIBANK BERHAD | CITIMYKL |
| DEUSTCHE BANK | DEUTMYKL |
| EON BANK BERHAD | EOBBMYKL |
| HONG LEONG BANK BERHAD | HLBBMYKL |
| HSBC BANK MALAYSIA BERHAD | HBMBMYKL |
| MALAYAN BANKING BERHAD | MBBEMYKL |
| OCBC BANK (M) BERHAD | OCBCMYKL |
| PUBLIC BANK BERHAD | PBBEMYKL |
| RHB BANK BERHAD | RHBBMYKL |
| STANDARD CHARTERED BANK MSIA BHD | SCBLMYKX |
| THE ROYAL BANK OF SCOTLAND BERHAD (RBS) | ABNAMYKL |
| UNITED OVERSEAS BANK | UOVBMYKL |
It’s great to know that PayPal is extending the number of banks it supports. In this new era wherein payments are made over the internet, then more banks should really connect with service providers like PayPal.