RM1 interbank ATM withdrawal fee to resume in February

RM1 interbank ATM withdrawal fee to resume in February

KUALA LUMPUR: An RM1 transaction fee for interbank ATM withdrawals will be reinstated starting Feb 1 next year.

Several banks including Maybank, Public Bank, CIMB and RHB have announced via their websites and social media that they will reimplement the RM1 fee for respective debit cardholders that make interbank cash withdrawals at the ATM of another bank.

"Please be advised that starting from 1 February 2022, an RM1 transaction charge for the withdrawal of cash between banks in ATM will be re-enacted.

"Maybank customers can still withdraw cash without charge on Maybank ATM machines," said Maybank in a post uploaded to its Facebook page.

The cash withdrawal fee is imposed by Payments Network Malaysia Sdn Bhd, the national payments network, which had previously announced that it would waive the fee from April 6, 2020, until the end of the movement control order.

"This is to allow the public to use the nearest ATM and reduce time outdoors, should they require cash," it said in an April 3, 2020, statement.

https://www.thestar.com.my/business/business-news/2021/12/15/rm1-interbank-atm-withdrawal-fee-to-resume-in-february