MALAYSIANS have been paying RM1 every time they withdraw cash from another bank's ATM for as long as most can remember, and many are still not sure whether that charge is here to stay.
Social media has been buzzing with confusion since July 1, with some customers reporting they were still being charged the fee while others said they were not.
Do you still need to pay RM1 to withdraw cash from bank-owned ATMs?
Verdict:
FALSE
The RM1 fee for interbank cash withdrawals at bank-owned ATMs was waived with effect from July 1, 2026, making it permanently free for Malaysian debit cardholders to withdraw cash from any participating bank's machine regardless of which bank issued their card.
This is not the first time the fee has been removed. It was temporarily waived from April 6, 2020, when the government sought to discourage Malaysians from travelling to their own bank's ATM during the Movement Control Order.
That waiver ended when the fee was reinstated on February 1, 2022, after pandemic restrictions were lifted. This time, however, the removal is permanent.
Communications Minister Datuk Fahmi Fadzil said customers who find they are still being charged the fee at bank-owned ATMs should report the matter to Bank Negara Malaysia for follow-up action against any bank that has failed to comply.
"If any customer finds that they are still being charged the RM1 fee for withdrawals at bank-owned ATMs, they should report the matter to Bank Negara for further action," said Fahmi at the Communications Ministry's weekly press conference.
The fee waiver covers approximately 84% of all bank-owned ATMs nationwide, or close to 16,000 machines, all of which participate in the shared ATM network.
The remaining 16% of ATMs are operated by non-bank private companies under separate commercial arrangements and will continue to charge the RM1 withdrawal fee.
To avoid being caught out, Fahmi advised customers to look for the bank's logo on the machine before withdrawing cash, as bank-owned ATMs will display the branding of the bank that operates them.
The Association of Banks in Malaysia and the Malaysian Islamic Banking and Financial Institutions Association are expected to issue a joint statement to provide further details on the implementation of the fee waiver.
Customers who believe they have been wrongly charged can lodge a complaint with Bank Negara Malaysia at www.bnm.gov.my or via the BNMLINK contact centre at 1-300-88-5465.
Sources:
