In a previous post, I wrote how for me to withdraw my Paypal funds, I needed to register for an Al Rajhi Debit Card to receive Paypal funds as Paypal did not send money directly into Malaysian bank account.

But I’ve recently found out that it seems that they have lifted this rule and are now able to send Paypal funds to Malaysian bank accounts.

In fact if you withdraw more than RM400 at one time, it’s free to withdraw. Less than RM400 is a service fee of RM3.

Refer to the table below for more info:

Or if you’re within you Paypal control panel, click on the ‘Withdraw’ link and you’ll be sent to the same page as seen above.

It’s good to know that Paypal has opened up more of its services to the Malaysian market place, making it easier for those of us who charge and receive money with Paypal to get those funds into our banks.

All in all, my withdrawl of USD 208.66 from PayPal returned me RM720.54. Which gives an exchange rate of 1USD to RM3.45 which is a bit lower than the current rate of RM3.51 to USD1.

So all in all not bad. Now I just need to increase PayPal income, it seems to be the most convenient way to get foreign currency to your local account. Cashing a cheque takes much longer and also has much higher clearing fees.

It’s not really their fault, since the banks reject the cards, not PayPal.

But PayPal did accept my Maybank Visa Credit Card. Any idea if there are extra charges for taking out money from the credit card once the money has been transferred there?

I have a normal Maybank account as well, meaning technically I should be able to trasnfer from my Visa account to my Saving account right?

And once the funds are in my credit card, won’t it just automatically deduct from how much I owe to the bank? After all, the funds go into the ‘credit’ column of your accounts…

Any help would be appreciated,

Thanks,

-William

I think you can in the long run, as long as you have a mailing list in the thousands, which you can promote your own, or a good affiliate product to.

Which is why I started this blog. I have no illusions that I will be making a killing from Google Adsense with such low traffic numbers, and even if I do manage to increase the traffic numbers, Google would probably make a lot less than pushing an affiliate product.

So why bother?

Well the make money online niche may be full, but in Malaysia, the ‘online business’ or ‘Internet marketing’ niches have a little space to maneuver still.

So why not build some interest, some traffic to my site and brand myself a bit? There’s a chance that someone might want to hire me to consult on their blog/website/SEO or anything else which I have knowledge on.

And at the same time, put same make money online articles on the blog to slowly start ranking higher for that keyword?

I figure that there are many many many more niches that can make you much more money much faster than the make money online niceh! Heck, I bet a ‘how to get rid of pimples’ website would garner more success in the short to mid term than a make money online blog.

But that’s just my 2 cents worth,

Good luck with whatever you do, just make sure you DO IT! Action action action!

Without ACTION, there will be NO result.

-William Lee

Login to their site (above) and type in your username and password. Ignore that voice in the background, it’s set to loop so he keeps repeating the sales message over and over again…

You’ll have to fill a form up after that. But if you notice, it’s only available for certain countries. If you’ve even read the title of my website, then you know that I’m not in Australia right now, but I used to live there so I know a post code or two.

You can use the one I’ve put above if you’d like. We’ll see if I can finish filling in the form or will it tell me to f’ off since I’m not in Australia.

Unfortunately, the site would not let me get to step 3. I guess it detected that I was indeed not from Australia. In fact, I even tried using a proxy server but that didn’t work either.

I guess in my case, I can’t make money online doing surveys.

Well I never liked taking surveys anyway. Haha…

You can try though,

-William Lee

Basically, Chitika will only show the adverts on your site to visitors who enter you site via the search engines and also if they started that search from America or Canada. If this describes you, read on.

As a publisher, there are a few types of adverts for your to choose from but the easiest to get you started are the Chitika Premium Ads. This type of advert pays you for every click that is registered on the advert and encourages this with small pictures placed next to the link to make it more appealing (unlike Google Adsense).

There are a number of ad sizes to choose from, so have a look through them and choose whichever one best fits your site. The color of the font and the font type itself can also be customized.

Have a look at my other site, http://thegadgetmonster.com and if you’re viewing the site from America or Canada it should appear.

If it doesn’t appear for some reason or if you’re viewing the site from another country, type this into the address bar instead: http://thegadgetmonster.com#chitikatest=mortgage then press ctrl + f5 to refresh the page. It will show you a preview of what the advert would look like if my site was about ‘mortgages’ or if someone was searching ‘mortgages’ on the plugin.

I’ve only just installed it, but it looks promising as another way to make money online, on top of that I have Adsense placed in strategic positions on that site as well. Gadgets are highly advertised online so I should get some targeted adverts for my viewers to click on.

I’ll let you know how it goes,

-William Lee

All of us have personal goals. You reading this now has some sort of goal that you’re trying to achieve right?

Putting a goal/ target for your readers to see also has the added benefit of getting in touch with them. People can relate to you better if they know you are aiming for something not too dissimilar with what they are aiming for.

And let’s face the facts, money is a target for almost every single one of us out there, regardless of what some may want us to believe.

So why RM75,000? Well it’s the money I need to make so that my dad can retire at 60 rather than 65 years old.

What is RM75,00 equal to? It sounds like quite a lot right? Well in Malaysia, it IS a lot. But here’s what it breaks down to in other currencies (approximations – Feb 2009 exchange rates):

Pounds = 14,545 (1212 Pounds/month)

Euros = 16,238 (1353 Euros/month)

USD = 20,500 (1708 USD/month)

= (56 USD/day)

= (2 sales/day of USD30 comission/sale)

= (a reasonable target)

AUD = 32,468 (2705 AUD/month)

RM = 75,000 (6250 RM/month)

So you see how the weakness of my currency and I’m sure alot of other currencies out there is actually an advantage to Internet marketers?

Some of the values above are probably at, or below the ‘cost of living’ numbers for those respective countries. So where I would be struggling to survive if I made that much money online, in Malaysia I would be doing extremely well.

Breaking things down like this makes what started out as a gargantuan task a lot more manageable.

So what is your target? Break it down into something which seems easier to achieve rather than target a ball park figure.

Wish me luck,

I wish you luck too,

-William Lee

But people must keep in mind that for most things in life, there are its pros and cons. Before you jump on the corporate banking business loan bandwagon, take a while to consider your options and make an informed decision.

The Advantages

Convenience and multiple loan options – Besides a standard business loan, banks can provide a selection of loan choices for you to consider. Even non-commercial loans that are able to be used for business purposes including personal and home-equity. What’s more is that there’s probably a commercial bank no more than 10 minutes from your house.

The bank has little to no control over how you spend the money – If the bank reviews your business plan and approves the loan to you, the money is essentially yours to do with as you wish. Since you are already in agreement with the bank on the interest rate for them to earn from you, they have little to no say what you do with the money. If you decide to use it all to travel the world instead of starting a business, well that’s your choice (although not a very good one).

This is a non profit sharing arrangement – Unlike business partners, venture capitalist funds or any other sources of capital, the bank is not entitled to any of your profits. Besides repayment of the loan plus interest, you do not need to split your profits between any other investors.

Interest rates may be low – The interest rates the bank can offer may be lower than other sources of financing such as credit cards and finance companies. Although not as low as borrowing from friends and family of course.

Commercial loans payments are often tax-deductible – You will need to check with your local tax department, but you may be able to get tax deductions related to the interest payments you are making on your business loan.

The Disadvantages

It may be hard to get a loan – Banks will probably require you to show them your business plan and convince them that your business has a chance of making a profit. If they don’t believe in your product/ service they could easily refuse you the loan. This is to ensure that when they loan out money, they are sure to get it back. Also, standard business loans are often limited to pre-existing businesses that have a financial history of success.

Application for a loan can be lengthy – Bank loans may require more information and a longer review process compared to other types of sources.

Collateral is usually required – A commercial institute usually requires collateral on the business loan, although this would probably not be required from other types of lenders. This may be quite risky if the collateral that you have to put up is your house or other family possessions.

You may not get all you ask for – Unlike a housing loan, which barely needs any persuasion to qualify for, you may not be able to get 80-100% funding for your business. The return on housing loans is so much better for banks that for a business loan, unless it’s quite small, you may only receive 75% of what you ask for. This varies from bank to bank.

So weigh your options before taking a corporate loan from a financial institution such as a bank, it may actually be better for you to find other sources of funding. Friends and family are always a good place to start. Just consider the pros and cons as laid out above and it will help you to come to an informed decision.

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