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How 2 Use Pay Pal?

5.06.2009

T_T ohgawd I am so blur about all this. Can anyone help me out? anyone with paypal experiences? This is my scenario:

I have a buyer from U.K. Apparently the banks will charge a bomb for transferring funds to Malaysia banks (and I will also get charged). Another options isto go with Paypal since I did register for it last year but never use it to withdraw funds or receive funds. Its a free account (personal). I've linked my credit card and was charge USD 1.98 for it. Need to confirm back with spacial 4 digit codes once I get my statement. I understand that by linking n confirming my credit card, I can withdraw funds into my credit card? (which will then just be a credit in my card, used to minus off credit card bill? - is it? haha). Paypal charged USD5 for withdrawal services to credit card and I read there's also a conversion charge? (really??? how much @_@)

I am not familiar with the fees involved as well for using paypal to withdraw funds to credit card.

Anyone can help me out? T_T and please in the dummies guide way!

15 comments:

  1. miu... if you already have paypal account, than its easy actually... your buyer have paypal account too? if he/she does, then he/she can just transfer his/her paypal to yours (using usd current rate), and of coz theres a charge there. (my hubby said they will charge about 20cent for usd 2)

    once you get your money on your paypal account, u need to sell back your paypal (in order to get your money in RM)to malaysian trader.

    emm... u get me or not? i blurr also... my huby is the expert :P

    ReplyDelete
  2. 20 cents for every usd 2?

    that's the conversion charges is it..

    T_T i am so blur too..

    the UK buyer has paypal

    ReplyDelete
  3. yeah anyone know how ar...pls tell me.....my husband also using but he dunwan teach me.....bcus he find that i damn ma fan hahaha.....so maybe i prefer female talk aka explain LOL LOL

    tutu J

    ReplyDelete
  4. Think of paypal like a middle person between your credit card and the internet. You will have a paypal account (like a bank account).

    First, you must verify your account by linking your credit or debit card to it. VISA is preferable. I'll explain why later.

    LINKING CREDIT CARD- You will be charged (roughly) USD2 on your credit card.
    - Your CC statement will have a 4 digit code which you can use to confirm the linking
    - The USD2 will be refunded into your paypal account

    FUNDS TRANSFER- So now your paypal acc has USD2 in it. Lets say you want to buy something for USD30. So paypal will charge your credit card USD28 then add 28 USD to your Paypal Account.
    - You can then send/transfer the USD30 (28 +2) to the seller
    - Rates are based on bank rates (if im not mistaken)

    WITHDRAWING FROM PAYPAL- Paypal allows you to withdraw to VISA Debit and credit cards. (** NOT ALL debit cards).
    - You can link a VISA card as a second card to do withdrawal (if your primary card is a Mastercard).
    - You are charged a transaction fee of USD5 per withdrawal.
    - Rates are based on bank rates (if im not mistaken)

    Notes- You can also sell or buy paypal funds from malaysians who will transfer you the funds and you can just directly transfer money to their bank accounts. **This is risky unless you know reliable person**
    - Maybank Debit card CANNOT be used in Paypal. Other cards not sure but what I've used personally is Alrajhi ATM VISA Debit card (to withdraw) and Ambank NexG Mastercard(to verify/link). Best is to call your bank and ask

    ~~~~~~~~~~~~
    Hope that helps. Please email me @ icednyior.blog@gmail.com if you dont understand

    ReplyDelete
  5. hi miu and everyone

    hopefully i can shed some light, but bear in mind paypal for southeast asia (based in s'pore) has slightly different t&c (need to read the fine print).

    basically paypal will charge you for receiving money, if the payment is for "Goods". if the buyer choose "personal" payment, she can choose to bear the charges, but the transaction will not be protected by paypal.

    in any case you can ask her to pay a bit more to cover the charge.
    you can send a paypal invoice to her email in the currency of your choice.

    when you receive the payment, it will sit in your account as "Paypal Balance". You need to transfer this balance to your credit card if you want the cash, and there will be charges (this is where it sucks). So, preferably, you keep it as balance and use it to pay others. Hence, you can have balance in different currencies.

    This is my experience of using Paypal. It is safer than banking in direct to seller's account, and if you use a credit card to pay, you have another level of protection from the card provider.

    Hope this helps!

    ReplyDelete
  6. hello miu...

    oh yes...
    i have probs with paypal too !!
    registered last 2 yrs I think but still donno how to use...
    hmmm...
    :(

    ReplyDelete
  7. Hi Miu, I have paypal acc. too but to withdraw money you must have either a US/UK/Australia or Singapore bank acc. aka savings/current acc. Currently Malaysian can accept pymt and make pymt only but not withdrawing cause they do not accept Malaysia's bank acc.

    Yes, there are alot of charges due to currency exchange/taxes & fees.

    The best is that you have an oversea recognised accs. with an ATM card. This way paypal will only charge a minimal fee for the item sold & receiving money will transfer directly to your current/savings acc. without extra charges & of course this way you can withdraw anytime.

    Oh dear, sorry for the long explanation, hope you guys understand. Cheers :)

    ReplyDelete
  8. i have a buyer from U.K. Apparently the banks will charge a bomb for transferring funds to Malaysia banks (and I will also get charged). Another options isto go with Paypal since I did register for it last year but never use it to withdraw funds or receive funds. Its a free account (personal). I've linked my credit card and was charge USD 1.98 for it. Need to confirm back with spacial 4 digit codes once I get my statement. I understand that by linking n confirming my credit card, I can withdraw funds into my credit card? ANSWER YES (which will then just be a credit in my card, used to minus off credit card bill? - is it?ANSWER YES haha). Paypal charged USD5 for withdrawal services to credit card and I read there's also a conversion charge? (really??? how much (@_@)

    up to here according to my husband is all CORRECT aledi...., the conversion rate will follow PAYPAL RATE or FOREX.........so i think u pretty much get it aledi but just no confident to do it yet >_<""

    miu ar....any more question feel free to ask me , i ask my hubby help u answer ur question ....bcus he buy online using paypal and ppl paid him paypal also.....


    i hope can help u abit....

    tutu J

    ReplyDelete
  9. or another idea u can try use WESTERN UNION ( RHB BANK ) no need account just go to counter......and they will explain to u all procedures....but for UK i duno have western union or not.....

    another suggestion la......
    hehehe hope it's help u la.....

    tutu J

    ReplyDelete
  10. it will appear as USD in ur credit card.....the bank will auto convert the USD to you.....example like credit 100 USD to ur credit card and later on bank auto convert to RM for u......

    liddat lor.....my husband say.....the 20 cent one he said he got no idea.......

    TUTU J

    ReplyDelete
  11. withdrawl min is USD 10 ,
    charge USD 5 for 1 transaction,
    if ur transaction fail bcus ur credit card info wrong return fee 10 USD

    sorry la miu.....he said what i type what hahahha...very plain.....that why my lou kong mai teach me bcus i always dumb dumb 1 hahahha....scared i do wrongly hahahha

    TUTU J

    ReplyDelete
  12. sorry, i should clarify that my experience is not in malaysia. i do know that for malaysia, they only accept linking to credit card, not bank account. i assumed that u can transfer you Paypal Balance to your card just as one would transfer to bank account.

    but ya, paypal has its own exchange rate.

    ReplyDelete
  13. hm..me also duno how to use.
    browse here looking/waiting for answer...hehe.
    1st time try to buy item from US via paypal this week nia....masih in process lagi...hopefully smooth lor.

    ReplyDelete
  14. oh gosh everyone! thanks for the explanation! really appreciate it! i'm taking my first baby steps to sell & deliver to a international buyer now! I am very nervous and happy about it, though all the fees n charges scare the hell outa me but Heather is willing to cover it all! I do hope to do an feature with her on what she bought from me :D mebbe soon once she receives it?

    she gave me this website link that calculates how much the conversion charges will be http://www.rolbe.com/paypal.htm

    she also basically calculate it all for me (yay!! so nice of her!!) and I'm going over my mind with all these readings. Why can't there be just a simple solution T_T to all this sob sob...

    so my first steps are to convert my charges to USD. Add the withdrawal fee USD 5, and the conversion fee (got it from that website http://www.rolbe.com/paypal.htm) and then Heather would just transfer it from her paypal (which in turn charge her USD5 for sending to international).

    so now the funds is in my paypal account and i need to wait 3 weeks for my bank statement to arrive so that i can activate my credit card using the 4 special code on my bank statement. Paypal will refund me my usd1.98 (which i have to pay first to verify my credit card).

    After my credit card which must be a VISA debit/credit card is activated, i can withdraw the funds into it and i guess it's a credit balance in my card.

    (to pay off my stila debts)

    YEAP ok i do hope its as simple as i have put it... i will update soon once i get my c.c statement T_T

    ReplyDelete
  15. I use PayPal only for Ebay transaction..

    ReplyDelete

meow thx ^_^ for commenting

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