Monday, October 01, 2007

PayPal: New option to withdraw money to credit card

Thanks to Jenny who linked her readers to Ades, there is a piece of good news for PayPal user. Andrew also wrote a beautiful post on this news.

Previously, there is not much option for us, especially Malaysians to withdraw money from PayPal. It is either having a bank account in America or through the reseller method.

But now, a new option has been provided - Withdrawing money directly to the credit card account (Visa or Mastercard). Of course, there will be USD 5.00 transaction fee plus a daily maximum withdrawal cap of USD500.00. The transaction will take 5 to 7 business days.

This will spur more people to use PayPal as their payment option and transfer the money back to the credit card (it may help some to clear their card debts too.) This prove to be very much convenience for online users, reducing the hassle to open a US bank account.

No comments: