|
|
Post by Plo Strax-Avix on Jul 2, 2006 16:00:27 GMT 8
Received an email from Paypal and here's the first paragraph of the letter:
"PayPal, Inc. is pleased to announce that we are preparing to open a new regional headquarters, PayPal Private Limited, a PayPal group company incorporated in Singapore. These headquarters will be the service provider for PayPal customers outside the United States and the European Union. Going forward, this development will help us improve services for our customers worldwide."
Lets hope this means that we can now withdraw any money we have in our Paypal account, at least through a Singapore bank account, which shouldn't be that hard to open, at least for Malaysians.
|
|
|
|
Post by The SITH OverLORD on Jul 2, 2006 16:33:51 GMT 8
Thanks for sharing this piece of info. This is GREAT NEWS for us active Paypal users who to-date have been using our Paypal account to make payments but not being able to collect our on-line sales proceeds without having first to Open a U.S. Dollar Bank A/C. Something that is made DIFFICULT due to Bank Negara's tough guidelines.
Let's hope the Paypal fund withdrawal fees will be reasonable though...
|
|
|
|
Post by Rhyden on Jul 2, 2006 23:11:23 GMT 8
Aye... I got that too and I am hoping to learn more when they do roll that out for this region in August 1st. Singaporeans never had any problems withdrawing funds via their banks through Paypal... it is always people like us, and our really really horrible reputation in the financial circles for fraud etc. who get really affected. I am hoping that eventually they would let us withdraw money in our local banks too... I mean when Paypal started a few years, Malaysians weren't even in the list for foreign countries that can use Paypal facilities.
Do anyone here know the procedures for opening a savings account along with a debit card in Singapore for non-residents. I know most banks require a work permit or some form of proof of residency in the republic before allowing an account to be open. Unless of course, you have gobs of money to put into a 'special' account then you can do without all the work permit stuff. It used to be that certain banks can do without the work permit thing but I am not sure if it is still possible to do so for us. Then need to know if can apply for a debit card facilities since you need a credit and/or debit card to register for a Singaporean Paypal. *makes face8 What a happy little headache... Ugh.
|
|
jadenlee
Veteran fan
The force exists in all living things..... it holds the fate of the galaxy
Posts: 343
|
Post by jadenlee on Jul 2, 2006 23:44:41 GMT 8
Hi,
Me too, I also got an email about this. Hope this will make the processing more easier. For me I am a first time pal pal user, just manage to make 1 purchase only.
I didn't know that paypal sale proceeds require a us dollar account, but I think its possible to open a US. dollar account with citibank or other bank. Maybe also can open one in singapore.
|
|
|
|
Post by Plo Strax-Avix on Jul 3, 2006 21:54:55 GMT 8
I think its possible to open a US. dollar account with citibank or other bank.
As of now funds from your paypal account can only be withdrawn through an account in a bank based in the USA. |
|
|
|
Post by kalkamel on Jul 3, 2006 23:19:25 GMT 8
You can open an account which you can bank in and withdraw in a foreign currency, but its still an account in a local bank. [/b][/quote] I think for a Malaysian to open a foreign currency account locally, you still need BNM prior approval. |
|
|
|
Post by vkkf1977 on Jul 5, 2006 8:08:41 GMT 8
read their email to me... on 1 hand, it's good, i.e. less potential headache's. the flip side, my hard earned $$$ can easily start flying!!!  |
|
|
|
Post by Rhyden on Jul 5, 2006 8:36:29 GMT 8
*laughs* We are all doomed the second we have either discovered Ebay and/or Paypal...  But seriously, I am truly hoping that the new changes in August will allow us to withdraw funds more conveniently. Not all of us are that interested to have a offshore account with a US bank. It is a serious issue when it comes to selling stuff on Ebay. And what is that thing about registering in a specific country and only able register that country specific bank account and credit card in that account? Pain, pain, pain in the arse.  |
|
|
|
Post by The SITH OverLORD on Jul 6, 2006 0:50:21 GMT 8
*laughs* We are all doomed the second we have either discovered Ebay and/or Paypal... But seriously, I am truly hoping that the new changes in August will allow us to withdraw funds more conveniently. Not all of us are that interested to have a offshore account with a US bank. It is a serious issue when it comes to selling stuff on Ebay.  |
|
|
|
Post by The SITH OverLORD on Jul 6, 2006 0:55:45 GMT 8
...but I think its possible to open a US. dollar account with citibank or other bank. Maybe also can open one in singapore.  Jaden have you personally tried opening a U.S. Dollar account with Citibank or opening one in a Sinagpore bank? Please share your experiences here with us. |
|
