Rate for Cashout Paypal fund to Visa Card higher then Bank

Nov

11th

Files under PayPal | Posted by calvyn

As mention before Paypal allow to withdraw paypal to Malaysia bank, and found some people mention that the rate is lower, but without much proof.

Due to cash flow problem, I decide to cash out most of my paypal fund to my VISA card and also local bank. I have made a cash out of USD$500 to my VISA debit, and USD$500 to my bank account on last week 5th November 2009 night.

Just working 3 days later, and found my bank account with this detail:

cash out paypal to malaysia bank

Total RM1665.90 ($500) , as per promise during my cash out last week at conversion rate 3.3318

cash out paypal to visa card

In another hand, in my VISA card detail show RM1665.04 ($495) , which conversion rate at 3.3637, faster 1 day compare to bank.

On this “experiment”, it shows that rate for cash out Paypal fund to Visa card higher then bank and due to the $5 transaction fees charges during cash out paypal at VISA card, the cash out money at VISA still slightly lower then bank.

As conclusion, cash out paypal to bank is the smarter choice, further more, another advantage for those who have a lot paypal fund to cash out every day. For VISA cash out method, only $500 maximum cash out per day, while bank, you can cash out more then $500.

7 Responses to “Rate for Cashout Paypal fund to Visa Card higher then Bank”

By imDavidLee on Nov 11, 2009 | Reply

wah…so now know the rate d…hope can continue to earn..oh ya..this month i have 1 client sign under me d..still 20 days to go, dunno can achieve 6 per month or not..

By Jayce on Nov 11, 2009 | Reply

Thanks for the info, Calvyn.

By Mike on Nov 11, 2009 | Reply

Thanks for the “experiment”. That was very useful! So to summarize – cash out to bank is cheaper but takes 1 day longer. Sounds like a good deal.

By KevinChong on Nov 12, 2009 | Reply

Oh I see. This is the good experiment for us, So I will choose cash out from paypal to Bank rather than Visa card. It will be more cost fee and it has got limit of withdrawal USD 500.