Don't forget, RM1 fee for ATM interbank withdrawals resumes tomorrow (Feb 1)

PETALING JAYA: The RM1 transaction fee charged when using automated teller machines (ATM) will resume on Tuesday (Feb 1).

Several banks including Maybank, RHB Bank, Public Bank, Citibank and HSBC had uploaded notices of this on their social media platforms in mid-December last year.

In a social media post on Dec 15, Maybank said the transactional fee would be re-enacted beginning Feb 1 for users conducting interbank withdrawals.

"Our users can however still withdraw from our ATMs at no cost," it said.

Similarly, a social media post by RHB Bank on the same day informed customers of this re-enactment.

"Kindly be informed that effective Feb 1, 2022, RM1 fee will be charged to RHB Debit Cardholders for each interbank cash withdrawal at the ATM of another bank.

"Customers may continue to perform cash withdrawal with no additional fee at any RHB Bank ATMs," it said.

Public Bank also informed its cardholders that the RM1 fee would be charged effective Feb 1.

"Our cardholders can however perform transactions at our ATMs without any fee incurred," it said in the post on Facebook.

Meanwhile, social media users voiced their opinions on the matter with some saying the charge would result in long lines at the machines.

"The interbank ATM withdrawal charge resumes tomorrow. Let’s hope this doesn’t result in long lines," a user tweeted.

Banks that had implemented these fees were part of the Payments Network Malaysia Sdn Bhd (PayNet), which had previously announced that it would be waived from April 6, 2020, until the end of the movement control order.

PayNet is the national payments network and shared central infrastructure for Malaysia’s financial markets, with Bank Negara Malaysia being the single largest shareholder, and 11 Malaysian financial institutions namely, Maybank, RHB, Public Bank, CIMB, AmBank, Hong Leong Bank, Affin Bank, Alliance Bank, Bank Islam Malaysia, Bank Muamalat and Bank Kerjasama Rakyat Malaysia, as joint shareholders.

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