My first encounter with Paypal - Withdrawal procedure and queries

Several tips and guides on how you can withdraw funds from Paypal to your local bank account

I won't say that I'm a total pro at this, but I have done some really extensive digging and calculating in order to get the information that I'm posting here, inclusive of questions (and the answers that I've gotten) from Paypal customer service and the results that I've gotten by experimenting with Paypal.

A flow chart on how the transfer of funds will work. I'm using my Fiverr account as an example.

XXX (Pending flow chart)

Some common FAQs for Paypal withdrawals

Withdrawing into another person's bank account?
No, you cannot do that

Use someone else's credit card 
No, you cannot do that

Withdrawing into a joint account whereby your name is listed as the second bank account holder
Pending answer from Paypal

Failed withdrawals due to valid errors
Minus RM15 fee from your Paypal account
(You can contest this via opening a petition on Paypal to reclaim your RM15 if you think the error stated is not valid)

NOTE: The local banks themselves may impose a charge as well if the withdrawal is rejected.

Withdrawal limits
(Unverified account): RM 2000.00 per month up to a maximum of RM 12,000 
[This is not exactly true] - No wonder I am unable to withdraw over a thousand ringgit at one go. Anyway, the new limit is RM1000.00 per transaction and in order to hit the monthly limit of RM2000.00, you will have to perform 2 separate transactions in a month.

(Verified account = meaning that you have a valid credit or debit card added to your Paypal account): No limit

Conversion taxes?
Yes, please refer to currency conversion below

Withdrawal duration
2-4 days if you're lucky. It's best to withdraw on Monday or Tuesday in order to get your money within the week (without any public holidays in between) and avoid any unnecessary delays.

Worse case, it may take up to a month. However, if the withdrawal is delayed for around week or two, please check if the hold-up is on Paypal's end or on your local bank's end. How? Check whether Paypal has listed the withdrawal as 'completed' or not. 

Most of the time, it's the local bank that is holding-up your withdrawal. If so, you'll need to contact your local bank, but it doesn't hurt to lodge a report to Paypal as well.

Don't worry - this is a common issue. You'll get your money in time.

List of banks with confirmed withdrawals from Paypal

These banks are confirmed to work based on comments on the website listed in the 'Other resources' subtopic.

• Public Bank
• Maybank
• CIMB bank
• RHB bank

However, any of the listed banks should work perfectly as well. These are just a list of banks that other people have withdrew money from Paypal to successfully.

I've added my bank account months ago and my bank account status still says 'checking account'.

The term 'checking account' does not mean that Paypal is verifying  your account. It refers to your bank account type = savings account. - Being someone who is unfamiliar with finance terms, I was duped by this... lol.

Just a note, the type of your bank account doesn't really matter in regard to withdrawals.

For withdrawals less than RM 400...
Please be aware that you'll be subjected to an additional charge of RM 3.

Currency conversion

This question warrants an entire section by itself. Anyway, I hope you can understand my explanations.

Conversion of currencies will be subjected to tax and a flat rate.

• The flat rate maximizes out at $1 (USD). (Will vary depending on the currency you receive)
• The tax will differs depending on where you receive the money from (Refer to the source for more info).

Source: http://adf.ly/r9OgE

For transferring more than $400 (USD) at a time, you will be subjected to ~4.4% tax and a flat rate of $1 (maximum) for USD to RM. However, from my calculations, I as subjected to only ~2.7% tax as compared to the 4.4% stated on Paypal's website (the flat rate still applies). Not sure what's wrong, but then the tax is less than expected so I'm happy :). 

If you transfer less than $400 (USD), you'll be subjected to a combination of tax and flat rate of around 2%. I've tested this by transferring $12 (USD) and I only get $11.76 (USD) in my Paypal. 

The current balance that you see on your Paypal account was already subjected to the deductions mentioned above. Hence, the money you earned is less than what you expected - by quite a lot in fact.

NOTE: Paypal exchange rates are way lower than the current exchange rates

As of 15:00 15/8/2014, Paypal is only providing RM 3.08 for each USD as compared to the exchange rate stated on Google which is RM 3.17 for each USD. That's almost a 10 cents difference for every dollar you cash out!

Edit: I've checked the currency rate for USD to RM again today and, not surprisingly, Paypal's exchange rate is almost always 10 sens less than the current exchange rate.

If you have any other queries, do not be shy! Go ahead and send Paypal an email through their support site: http://adf.ly/r9OeP

Other resources: 

http://adf.ly/r9Ode

Sam Tsui - Shadow

Lyrics:

Bags all packed, make sure you remember everything
No looking back, no more; not for anything.
This is what you wanted, isn't it?
Clear it out just like you've never been
What's a goodbye good for, anyway?

There's nothing left of you to remind me
But somehow you're still standing behind me

I'm trying hard to forget you
But my empty walls won't let me let you go
When you took it all, you forgot your shadow
You say you wish me well without you
But something 'bout you tells me that you know, oh oh

When you took it all you forgot
Your shadow, your shadow
When you took it all you forgot
Your shadow, your shadow, your shadow, oh oh

Hide all your photographs,
But I can feel you watching me
How long does your memory last?
It's time I ought to be
Moving on and getting over you
I bet it looks like I'm not even trying to
Here all alone, my past on the walls

With nothing left of you to remind me
So why are you still standing behind me

I'm trying hard to forget you
But my empty walls won't let me let you go
When you took it all, you forgot your shadow
You say you wish me well without you
But something 'bout you tells me that you know, oh oh

When you took it all you forgot
Your shadow, your shadow
When you took it all you forgot
Your shadow, your shadow, your shadow, oh oh

It's always there, too close, too much
The shape of something I can't touch
I turn, and find the shadow's grown
Those empty eyes I begged to stay
Are watching me from yesterday
You can leave me, can you leave me alone?

I'm trying hard to forget you
But my empty walls won't let me let you go
Let me go
You say you wish me well without you
But something 'bout you tells me that you know, oh oh

When you took it all you forgot
Your shadow, your shadow
When you took it all you forgot
Your shadow, your shadow, your shadow, oh oh

When you took it all you forgot
Your shadow, your shadow
Bags all packed, make sure you remember everything

Sam Tsui - Don't want an ending

Lyrics: 

I don't wanna fall out
But we're all out of time
(Is this over?)
(Don't want an ending)
In one day
No way you'll be mine
(Is this over?)
(Don't want an ending)

Mmmm...

My heart is running on empty
One more day and then we go
Yeah, the time goes on now
Don't ask me how
I don't know
You'll be home tomorrow
About a thousand miles too far away?
Say you won't forget and i'll be okay

At least tonight
It's just you and me and honestly
That's everything i need

I don't wanna fall out
But we're all out of time
(Is this over?)
(Don't want an ending)
In one day
No way you'll be mine
(Is this over?)
(Don't want an ending)

Tonight's the countdown
'Till the day we're not around
(Is this over?)
(Don't want an ending)
And you're gone
And we're on with our lives
(Is this over?)
(Don't want an ending)
I don't want an ending
Woahh
Don't want an ending...

The days... turn to hours
And it’s just a moment before they go
I’m scared to say goodbye,
‘Cause what’s after that?
I don’t know.

As the years look past us
-If we lose track,
Or lose the fight,

I will search forever
To find a way back..

To tonight
Where it's just you and me and honestly
That's everything I need

I don't wanna fall out
But we're all out of time
(Is this over?)
(Don't want an ending)
In one day
No way you'll be mine
(Is this over?)
(Don't want an ending)

Tonight's the countdown
'Til the day we're not around
(Is this over?)
(Don't want an ending)
And you're gone
And we're on with our lives
(Is this over?)
(Don't want an ending)
I don't want an ending

We said "see ya later"
But I know there's no way we're
Going Around here again (yeah)
And every until next time
Feels like -one bad punch line
And I don't want that again

I don't wanna fall out
But we're all out of time
(Is this over?)
(Don't want an ending)
In one day
No way you'll be mine
(Is this over?)
(I Don't want an ending)

I don't wanna fall out
But we're all out of time
(Is this over?)
(Don't want an ending)
In one day
No way you'll be mine
(Is this over?)
(Don't want an ending)

Tonight's the countdown
'Til the day we're not around

(Is this over?)
(Don't want an ending)
And you're gone
And we're on with our lives
(Is this over?)
(Don't want an ending)
(Noo...) I....
Don't want an ending
(All out of time....)
Don't want an ending
Mmm...
Don't want an ending

Avoid using the word 'very'

Credits to 9gag for creating this... I think. Not sure whether the site ripped it off somewhere else though or it created this. Anyways, I'm done with the credits, now onwards to the content!

And I suppose this blog post (although a bit late) can be considered a tribute to the late Robin Williams. RIP.

Click the pic to enlarge and to download.

Twitch Reflex Challenge!

Twitch reflex.... if you didn't know about it, it's basically about how fast you respond with your mouse clicking finger. Gamers (FPSers and perhaps MMORPGers) usually have better score.

So, here's my best score out of around 20 times lol :P

Holy cow! 0.29s! xD

I clocked an average of 0.3s though. What about you? :)

Click here to accept the challenge!

Also, if you like hashtags, you can use the hashtag #twitchreflexchallenge on Facebook to brag about your results lol and seriously, no hacking allowed. 

(and no, I didn't develop that test nor I own that website. This is not an advert but it's for fun... and for bragging rights! :P)

P/S: I know mouse response time and internet speed should also be taken into account lol :P But just for fun, what's your score?

P/S 2: Considering the huge number of ALS ice bucket challenge being thrown around, I thought I should challenge myself too lol and it so happened I was writing a game review for something that triggered this term to resurface in my mind. So, yeah... stop procrastinating by reading this! What's your score? :D SS it for proof :D

For more 'tests' such as this one, feel free to check out my other posts:

How Dark is Your Personality?
Stanford Sleepiness Scale: Are You Getting Enough Sleep?
Which TED Talk are you?
Find out your EQ score!
How old are your ears?
How many colours can you see?
Whose #brainchild are you?

Do you ever have trouble telling right from left?

Hooked on Music - What makes music so catchy?
Kuku Kube - Test your eyesight!

How Well Do You See Colour?

Tuition anecdote - Trick question

Goat or not-goat... that's the question!

One of my std 1 kids gave this to me. I had to asked her what this is, and she told me that this is a goat with 'horns' coming out from its neck. 

Then, she proceeded to ask me, 'Do you know what those things are?', while pointing to the 3 lumps under the goat's belly.

I tried to put it as gently as I could and said, 'Yes, of course... those are 'thingies' that baby goats drink milk from...'

Then she looked at me, annoyed, and said, 'No lah... those ARE the baby goats themselves....'

At that exact moment, I have half a mind to smack my forehead... I should have known better to just keep my mouth shut and asked what they are. 

It's obviously a trick question lol... and there I was thinking that she must have seen a picture of a mother goat on Nat Geo or something... aiks!

In the end, I asked her to colour it for me, just so she would have something to do to pass the time. :P

How to Balance Personal and Work Life

Sage words for any budding micro-entrepreneur.

If you are an entrepreneur or business owner, there exists in you a burning desire to get it all done. The point is, your goal should not be to get everything finished, but finish what is important. Stress levels peak because of a feeling of being rushed not being busy.

 ------ stress level still peaking after almost 2 months... sigh and it's getting even worse.


On outsourcing - 

It is more affordable than you may think. Is it cheaper to do it yourself- yes, of course. But ask yourself, “How much is my time worth?”. 

----- Exactly what I told somebody and declined any further job offers from him lol. I told him, 'Although I enjoy working for you, but you have to make it worth my while to work for you too.' and by that I don't mean getting paid ridiculous sums of money for a simple job... I'm stating that I'm seriously underpaid and I can't afford to continue working like this.

On defining success - 

Lastly, we all to often allow others to dictate our values and our self-worth. What does success look like to you? What will it feel like for you to achieve it? Ultimately you will be the one putting in the hard work and sacrifice to attain it, so what exactly do you want? 

----- Some people see the ability to travel overseas often as a mark of success, some other defines it by driving the coolest cars or having the biggest house. I'm not sure what I want yet, but I know I don't want to be stressed out all the time... I seriously need to manage distractions, my workload and finding a balance. I feel like I'm working my ass off.

Source: http://blog.fiverr.com/balance-personal-work-life/?utm_source=nt_ct&utm_term=n454