Customers paying the price for cashless transactions

PETALING JAYA: Several banks have come under fire for charging fees when customers make loan and credit card payments with cash or cheques over the counter or through deposit machines. At least two other banks have announced they would do the same from next month.

The Association of Banks in Malaysia (ABM) says the fees are imposed to “encourage customers to move from cash to electronic payments” but consumer groups argue that this practice is unfair to those who do not do their banking via digital channels.