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Withdraw Paypal funds to HSBC Visa Credit Card | Organic Income

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Withdraw Paypal funds to HSBC Visa Credit Card

Posted on October 11, 2007
Filed Under Paypal, Banking, Credit cards |

I have news to share pertaining to the withdrawal of Paypal funds to HSBC Visa Credit Card. I tested with a USD10 withdrawal on 29th Sept 2007 in which Paypal deducted a USD5 fee. Ended up with USD5 to my card. I received a letter from HSBC dated 5th October today together with a Demand Draft dated 4th October for the amount of Rm16.65. Not bad, 7 days to reach me.

Updated to a question from Leona: The Demand Draft was sent to me automatically. I didnt contact HSBC after my withdrawal.

HSBC003

I called HSBC up to confirm with them if there’ll be any charges or not if i were to bank in this Demand Draft to my local bank account. HSBC confirmed that there’ll be no charges on their side, but i will have to confirm with the bank i wish to bank the draft into. I called up Maybank and they confirmed that there’s also no charges on their side as the Demand Draft is in our local currency.

HSBC004

I will bank in this Demand Draft and see if there is any fees incurred or not to be on the safe side, ya. I REALLY DONT TRUST BANKS AND THEIR DUNNOWATWAT CHARGES UNTIL I SEE THE SAME FINAL AMOUNT IN MY SAVINGS ACCOUNT. The final EXCHANGE rate i received on this Demand Draft is equivalent to 3.33.

I can forget about all those Debit Cards. In fact i applied for the CIMB Debit Card earlier but looks like we cant use it for Paypal withdrawal as it’s a Mastercard. You nearest bet is Public Bank Debit Card. I dont have that. Cancelled it years ago for the convenience of Credit Cards. Not bad lah. So, now you know hoh. Care to share your experience with your withdrawals please?

Updated: I have 10 other credit cards to play with. If i have the time and mood, i’ll experiment with them and update more later.

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Comments

12 Responses to “Withdraw Paypal funds to HSBC Visa Credit Card”

  1. lilian on October 11th, 2007 3:57 pm

    I still cardless. Going to Pubic Bank to make one soon, when I feel like going. I saw Emily withdraw, around 3.3+ oso.

  2. Leona on October 11th, 2007 4:00 pm

    Did you have to contact HSBC after making that transfer from Paypal to ask for a demand draft, or did they send it to you automatically? Coz in the letter it says ‘we refer to your recent contact with us on the above matter’.

  3. Vedis on October 11th, 2007 7:26 pm

    Hi, Samm, I thought the amount is in your credit card?

    I used Citibank Visa card and my PayPal fund is inside the card. I called up Citibank and they said no demand draft for me.

    The rate is 3.4 for Citibank.

    Then i suppose you ask Citibank what you can do to withdraw the money from the card. If it’s at at the ATM, would you be charged the 5% cash advance fee or not.

  4. Vedis on October 12th, 2007 12:33 am

    Definitely, Citibank will charge cash advance fee. I transferred to Citibank, not to withdraw them. Just settle some of the Citibank debts…;D

  5. Vedis on October 12th, 2007 12:34 am

    By the way, I have applied Public Bank Debit Card liao…;D

  6. wendy on October 12th, 2007 9:53 am

    i received news about this from paypal last week. i was still doubting. wanted to try out some withdrawal but they charge usd5 each time. i don’t have much $$$ like samm lor. but thanks for sharing. anyway, i have a public bank visa debit card, dunno whether can or not. after withdrawl dunno where the money go then sei la!

  7. Make$ Money$ - Truth, no scam » Blog Archive » Al Rahji roxs, Public Bank suxs on October 12th, 2007 2:19 pm

    […] blog buddy, Samm has posted on her OrganicIncome blog on how to withdraw PayPal to HSBC credit cards. Find out […]

  8. Samm on October 14th, 2007 1:25 pm

    wendy - then u gotta accumulate b4 u withdraw lorrr. If public bank debit card, it goes to the card. No problem with that. Go ahead and try with $10

  9. PayPal Announced The Official Guide on Debit Card Withdrawal Features on October 15th, 2007 3:35 pm

    […] Samm […]

  10. The Suzette » Blog Archive » Withdrawing Money from PayPal on October 24th, 2007 9:14 pm

    […] my Paypal fund at all. After all, since reading the experience of other bloggers like Lilian, Msau, Samm, etc., where there are charges by PayPal (USD5 per transaction — RM16 equivalent) and the […]

  11. Kaki Shopping » Shopping and Not Paying Bills on November 13th, 2007 12:42 pm

    […] didn’t want to transfer my funds to my HSBC card because I had heard that HSBC will send me a demand draft instead. I didn’t want the hassle of having to go to a bank to bank in the cheque and all, so […]

  12. sam on March 24th, 2009 8:31 pm

    I used my Public bank credit mastercard for my Paypal account.
    Now my paypal account has USD100++
    But if they are going to charge 5% of the withdrawal amount plus Paypal’s USD5 charge.
    That would be a lot!!
    Can I make a Al Rahji debit card like aunty Lilian to withdraw my money from my current Paypal account?

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