This is the latest news from Matt about the E*trade account that we’re talking about. Since my latest post about E*trade account, I got many emails asking me “when will I get my E*trade account”. So I hope after you read this important statement, you will know what is actually happened to your application.

Maybe some of you will feel happy for this latest new. But for those who feel so upset about this matter, please don’t “gelabah” okey. Matt always try to find out the best way on how to withdraw your Paypal’s money. Now let’s read Matt opinion on this. Even I’m also still not receive any feedback from HK E*trade, but Matt’s opinion is really worth to read.

Are you ready to read it?

From Matt:
It has come to my attention that the new e*trade account policy does not allow Asians to sign up for a US bank account anymore. All new E*Trade accounts from Asia will be opened in Hong Kong Bank Branch instead. This due to abuse from some Asian account holders which is why e*trade US decided to transfer all new Asian applications to HK.

My opinion is that they have found a certain amount of account holders having less that $20 or no money in their account applying for the debit card which is bad for their business.Somehow or rather they have figured it out that the sudden surge of new account applications coming in is for PayPal use and not for stock/options trading.

Which means that, new account holders will not have a US bank account address. As of today, all new e*trade account pplications will have a Hong Kong Bank Address instead.

As you may or may not know, the recent new PayPal policy to withdraw funds from Malaysia is to have a bank account in US. Now that e*trade US bank has redirect all new applications to HK, it’s no used for Malaysians to sign up for it.

If you have submitted the application recently, chances that you will not be getting a US bank address. Instead, you will be given a
HK bank address.

So the bottom line is…no use applying for E*Trade account now as we don’t need a HK Bank Account. What we need is a US bank account. With that said, I will have to find new methods to try out which I will be updating you soonest possible. I’ll be also be calling UK bank Branch and inquire if it’s possible to open an account there.

If you have a question to ask Matt, please don’t ask a question like this okey:
“is it true?”,”how now?”, “How you know ah?”, “why?”, “but I already sent..how now?”

All you have to do is wish him luck in finding new ways to get a US bank account. He also might be temporary taking down his free paypal ebook site as soon as possible as it will no longer be serving it’s purpose(for now).

To Matt, thanks a lot and we always hope you will success!

Picture courtesy of stephan535ia.de.