PayPal is undoubtedly the world’s biggest online payment solution provider boasting well over 100 million account holders worldwide. Malaysians are no strangers to PayPal since they have been using them to make online purchases for years now. However, those that have their very own online businesses do have a little problem in using PayPal. Sending and receiving funds do not pose any problems to Malaysians but when it comes to making withdrawals, many Malaysian online entrepreneurs would face a brick wall.
Ever since the 9 11 tragedy, the US government has tighten their grip on security and that affects their economic practices as well. New Bills and Legislations were introduced thus making life for Malaysian online entrepreneurs a bit more difficult. PayPal for an example forced a mandatory ruling that every Malaysian PayPal account holders may only withdraw funds to their US bank accounts. This is practically impossible for most Malaysians then since we are halfway across the world! Malaysians that are visiting US and thinking of taking that opportunity to open their very own US bank accounts on the spot later received rude shocks upon discovering that every US banks have tighten their banking procedures and it is almost impossible to open any type of bank accounts if you are US non-residents.
Luckily, some Malaysians have found a few workarounds or solutions for this problem and it is my intention here to share them with everyone. Some of this workarounds or solutions are dubious; hence I would not discuss them here. Sadly, some ingenious Malaysians who are privy to such solutions took full advantage of it and use them for their own personal money making agenda. They come up with a few eBooks and sell them for a couple of bucks on their websites. One Malaysian even has the audacity to make his eBook as an affiliate program! Frankly speaking, such knowledge should never have been exploited for any monetary gains since it belongs to everyone.
Okay now, let us explore the possible solutions here in detail:
Using Accent Card Visa debit card
Using Virtual Money ATM Card
Using Online Trade & Brokerage facility
Using actual US bank accounts
I am sure that in time Malaysians would find more options in tackling their PayPal withdrawal difficulties. Malaysians are known to be resourceful and some folks might just have some new ideas anytime soon. I would be monitoring this issue very closely and those interested in following up with any new developments can do so by taking a peek or two on my Home Biss Blog .
Maybe it would be best if every Malaysians get together and sign some sort of a petition letter to request PayPal to consider allowing Malaysians to withdraw funds straight to our local bank accounts. If Singaporeans are allowed to do that, there is no reason why PayPal cannot give us the same benefit, isn’t it?
Saidul A Shaari is the principal and founder of Sahabatul Ventures , specializing in helping aspiring home based entrepreneurs establish and setup their online businesses cost effectively. An enterprising business individual who turn half ideas into real money making opportunities .