How to use PayPal with CIMB

Yumiko Kijima

This guide covers all you need to know to use PayPal with your CIMB account and card. We’ll also touch on some of the PayPal fees you should know about, and cover Wise as a smart way to avoid PayPal’s currency conversion costs when making international payments.


Sending money overseas with PayPal? Watch out for the exchange rates offered

Before we get started, let’s look at an example of the costs involved if you use PayPal and your CIMB account to send an overseas payment, using Transferwise as a cost comparison.

Check out this example: Sending 5,000 MYR (including the transfer fees) to your recipient’s account in USD

Provider Transfer fees Exchange rates Recipient gets...
paypal-logo-my PayPal¹ 0 MYR Exchange rate PayPal decides (1 MYR = 0.2254 USD) 1,127.05 USD
tw-logo-my Wise² 30.89 MYR Real exchange rate (1 MYR = 0.235488 USD) 1,170.17 USD Send money

(June 11 2020, at 14:44(GMT+2))

You’ll notice that your recipient actually gets less with PayPal compared to using Transferwise. That’s in spite of the fact that PayPal offers international payments with no transfer fee.

This example highlights that there really is no such thing as a free international transfer. If a provider doesn’t charge a transfer fee, the chances are that the charge is just placed somewhere else - often in the exchange rate used.

In our example above, PayPal adds a markup to the exchange rate. This is pretty common, but makes it hard to see the real fee you’re paying for the transaction.

Wise on the other hand, uses the mid-market exchange rate that you’ll find on Google, and charges a transparent transfer fee. That’s easier to understand. Make sure you compare both the fees and exchange rates you’re offered by different providers before you choose how to arrange your international payment.

Send money to 70+ countries with the real exchange rate🚀

How do I link my CIMB account to PayPal?

Linking CIMB to PayPal should be pretty straightforward. Here’s what you need to do.³

  • Log in to your PayPal account and click on Wallet
  • Select the button which says Link a bank account
  • Follow the steps online to add all the account details, such as Bank name, MEPS routing code (CIMB: CIBBMYKL) and Account number
  • Review everything and click Continue

Before you can get started, you may need to confirm your CIMB account with PayPal⁴. If this is required, PayPal will make 2 small deposits to your CIMB account.

You’ll then need to log into your PayPal account, and click on Wallet. Here you can select the CIMB account you want to confirm, and will be guided to enter the exact amounts of the 2 deposits which have been made. Once this stage is completed you’re good to start using your CIMB account with PayPal.

💡 A cheap and transparent alternative: Wise


Take a look at the low cost international transfers available from Wise, to see if you can save.

Wise uses low, transparent fees without any mark-up on exchange rates. You can send money overseas from Malaysia to 70+ countries with the real exchange rate.

With Wise you can also receive money to your own multi-currency account from the UK, US, Australia, New Zealand and any Eurozone country, as if you had a local account there. Hold dozens of different balances all in the same place, and switch between them using the mid-market exchange rate whenever you need to. You’ll only ever pay a low, transparent fee.

To send money with Wise,

  1. Register for free
  2. Choose an amount to send
  3. Add recipient’s bank details
  4. Verify your identity
  5. Pay for your transfer by bank transfer or debit/credit card

And that is it! You can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

Join over 7 million customers and experience a cheaper, faster way to send money abroad. From Malaysia, you can send money abroad up to 4x times cheaper than banks.

How to transfer money from PayPal to a CIMB account

If you’re holding a PayPal balance, and are ready to transfer PayPal to CIMB, here’s what you need to do:⁵

  • Log in to your PayPal account
  • Find the option Transfer to your bank, which is below your PayPal balance summary
  • Choose how much to transfer, and click Continue
  • Double check the details for your linked account are correct and hit Confirm

You can also withdraw funds to your CIMB card.⁵

  • Log in to your PayPal account
  • Click Withdraw funds, which is next to your PayPal balance summary
  • You’ll see a dropdown box, which says Transfer to - select the card you want to send money to
  • Choose how much to transfer, and click Next
  • Double check the details are correct and hit Withdraw MYR and amount

Withdrawing your balance from PayPal to CIMB should take between 1 - 3 working days.

How to top up PayPal using CIMB

You may also wonder how to top up PayPal using CIMB Clicks. However, when you click Add funds within your PayPal account, you’ll be directed to RHB bank’s website. This suggests that you may not be able to add money to or top up PayPal balance using your CIMB account.⁶

That being said, it doesn’t mean you cannot use PayPal if your normal bank account is held with CIMB.

You can still make online purchases and send payments with a linked CIMB account - even if you can not add money to your PayPal balance from CIMB. For some countries, adding money to PayPal balance is not even available in the first place, so it’s not a “must-have” feature to use PayPal.

Why can’t I use a CIMB debit card on PayPal? Did CIMB ban PayPal? Try this.

If you’re struggling to link your CIMB card or account to PayPal, you might be wondering: did CIMB block PayPal?

The good news is that PayPal and CIMB can be used together - although you might need to take an extra step with CIMB to get started. Usually if you have hit a problem with your PayPal it’ll be because you need to activate your CIMB card for online shopping. If you don’t do this, the bank might limit online purchases with their debit cards for security reasons.

To activate this feature and get started using CIMB PayPal, call 03-6204 7788 from 8am to 7pm, to have your account verified and activated.⁷

There you have it. All of your PayPal CIMB questions answered.

Don’t forget, if you’re a PayPal user, it’s well worth checking out the fees charged for some PayPal services. While PayPal is perfect for local online shopping, you might find you pay more than you expect to send money to friends and family abroad, or spend online internationally.

Before you use PayPal for cross border transactions, see if you can save with Wise.

Join 10 million people who get the real exchange rate🌏

Wise for sending money

  1. Simulation on PayPal account page (June 11 2020, at 14:44(GMT+2))
  2. Simulation on Wise (June 11 2020, at 14:44(GMT+2))
  3. PayPal | How do I add a bank account to my PayPal account?
  4. PayPal | How do I confirm my bank account?
  5. PayPal | How to withdraw funds
  6. On a PayPal account page, when you click “Add funds”, you’ll be directed to a RHB bank website.
  7. Contacted CIMB Malaysia through Facebook (May 12, 2020)

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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