Latest Breaking news! Here’s the latest update on PayPal Supporting Malaysian Ringgit (MYR), now, the final piece of the puzzle is finally completed. You can officially link up your PayPal Account (Start selling online now) to a Malaysia Banks (or Overseas banks operating in Malaysia, basically via the MEPS network).
Step 1 – Login to your PayPal Account, Go to Profile > Add / Edit Bank Account
Step 2 – Fill in the account details. If you are not sure about the Bank Name and the MEPS bank routing code (aka SWIFT code, a special code required when you do Telegraphic Transfer), just click on the details link. Seems like there are 21 banks on the list. (Including Bank of America !? never know BOA have a Malaysia branch)
Step 3 – Confirm the details and you are done!
Step 4 – You will receive an email notification on PayPal too upon successful update.
Malaysia Bank Routing Code (also known as SWIFT Code)
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Here are the bank numbers for some of the major banks in Malaysia.
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 – CIBBMYKL
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
Around the blogosphere
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Keluarkan Duit PayPal anda ke BANK MALAYSIA
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Wow, nice sharing.
all the e-commerce site in Malaysia now has more choices in terms on online payment gateway.
Good news ! Thanks for the wonderful info.
Hey, looks like there’s a mistake for CIMB’s routing code. Correct one should be CIBBMYKL 🙂
hi kc lim, yes, you got it right! CIMB Swift Code is wrong! (already updated) Sorry for the typo, PayPal made a mistake too. We already notified them on this.
It is good news for us..
No more debit card…
Ooooh nice one! Tks for sharing…. have been waiting for something like this to happen! FINALLY!
finally…..we can paypal support for malaysian but how to transfer money from local bank to paypal??
Can I use this post to my blog, of coz I’ll link back to this, it is a good info.
yeah.. we can get more extra money from paypal and the easyway to transfer usd to local bank right now…
Such useful info. TQ! Btw BOA branch is along Jalan Raja Chulan, KL.
zool, more cost effective link to your bank account, more importantly, now it can link to your “business bank account”, not just personal.
Mazuki, one of our facebook fans suggested that we cannot transfer fund from Local Bank to PayPal yet, maybe BNM don’t want outflow of money? (wild guessing):)
Payandpal: Feel free to share around. We aim to educate and share to bring up the e-commerce activity.
Tummythoz: Thanks for compliments. So you got BOA Account? stashing chunks of USD there? 🙂
thanks for the tutorial.
ok dah setup, cuma tunggu duit masuk je.
@ Kian Cheong Lim and admin, PayPal has not yet updated their typo… still uses the BSN MEPS Routing Code (well as of today). I added my CIMB Bank Berhad account just now and made a withdrawal of USD200 for testing purposes 🙂 We’ll see if I got it in my bank within 2/3 business days (from Monday I guess) or not 😉 Last but not least, this is INDEED a very good news for all Malaysians! I’ve been waiting for this change since 2005 you know? And I sanggup tunggu for that long just to withdraw some of my PayPal funds – LOL. Forget VMI, VISA Electron, e*Trade, US Bank Accounts, etc.!
How much they will charge us for the transfer?..
@ sally
how was your transaction doing?
@3gp,
if you withdraw less than RM400, then PayPal charges you RM3.
Otherwise “free”. 😉
Why “free”?
Because I noticed that PayPal’s exchange rate is quite low…
But the rate changes everyday, though.
So maybe tomorrow it’s higher than it is today; but still it’s low compared to, for example, credit cards.
About my transaction…
Soon after I made the withdrawal, PayPal actually sent me an e-mail where it said that I should get my money in my CIMB account by Nov. 6.
I’ll let you guys updated anytime next week. 🙂
Thx!
But, we still have to verify it first with our card I think. For new registration. I agree with forget about cards but for new members still need to have a card 🙂
Just add my local bank info and make a transfer.Now waiting for the transfer to my account.May me it takes about 3-4 days.
@Khairudin,
lupa pula pasal nak verify akaun tu hehe…
huh? has PayPal updated the CIMB routing code yet? If people start transferring money to CIMB based on the wrong details provided, will PayPal bear the “return fee”!? Sally, hopefully you follow our routing code here which is correct one as alerted by KC Lim.
Also waiting for the money..
29hb withdraw.. cuak gak.. tak byk tapi cukup untuk lepas minyak bulan ni.. hope the number will appear at my maybank tomorrow..
Wow!!…it has been 6 years?? …Thanks for sharing dude. many many thanks! XD
@admin,
Yep I did use the right routing code. Thanks!
And alamak,
“Please take note that CIMB Clicks and Clicks Mobile Banking will not be available from 6 November 7pm till 7 November 10pm.”
– see http://www.cimbclicks.com.my/notice_downtime.htm
Dear all, my friend said takes about 3 days to his public bank acc. USD13 to RM43. So you calculate the conversion. 🙂
I’ve Received the money today.. It takes almost a week.. Anyway, it is good and easy .. Ops.. I’m withdraw to maybank
this work out to be 1USD = 3.30. it is quite low.
for the past few day, the exchange rate is between 3.36- 3.40, if you withdraw huge sum, the bank will make lot profit from the exchange.
now i am using credit card to withdraw, the only thing is it is credit to my credit card.
Yay!!!
Not sure the exact date&time, but I checked it a few minutes ago, and saw the money is already there in my CIMB account. Thx PayPal & WebShaper! 🙂
Hi – I am trying to verify my ccard with paypal – but I nned a 4 digit code yhat should appear with the $1.95 transaction ppal deducts from my ccard. It is not on my statement – and the bank RHB can’t find it/don’t know what I’m talking about. PPal just pushes me around in circles. Any ideas?
hi lucas, why don’t try debit card? crediting to your credit cards can help pay off your credit cards debt, but for cashing out not ideal.
Sally, how long does it take from PayPal to CIMB?
Peter, i would be surprised if RHB call center knows about this. 🙂 You have RHB internet account? Login to your account (after 3 days, it won’t show instantly), check for the transaction details. Grab the 4 digit verification code and verify your account (so there’s no limit on transfer).
@admin,
I’m not very sure.
I withdrawed on Oct-30 (Friday), then I received the money on Nov-06 (Friday too).
So minus Saturday and Sunday, it was about 4 days not including the day I received the money.
Thanks a lot for your interesting article. But I had difficulty navigating around your web site because I kept getting 502 bad gateway error. Just thought to let you know.
Almost 1 week to withdraw? Ugh I hope they hasten soon. 1 week is way too long. BTW great site webshaper 🙂
i need you help…
i already sign up my paypal…
i want to redeem my money from US (usd)…
how should i know if the money already go throught to my acc?
And how long the money will will be take to paypal?
thank you,
Regards
hi khatijah, what do you mean by “redeem your money from US (USD)” ?
As you are signing up a new account, i guess you mean you want to take USD payment? Eg you can do a request for money via email or invoice via email inside PayPal.
The money goes into your PayPal account almost immediately. The part taking time is to “cash it out”.
can we use the bank account to send money without transferring any funds into paypal account? and not linking any credit card?
Thanks!
hi jocelyn, what do you mean by that? Even without PayPal, you can use the bank account to send money, as long as the merchant has a valid bank account? Why need to go through PayPal in this case?
Credit Card / Debit Card are used to authenticate your account (highly recommend), once you done that, the limitation of fund transfer will be removed.