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Starting 1 July 2026, Malaysians can withdraw cash from any ATM for free, regardless of their issuing bank, marking the abolishment of the RM1 interbank cash withdrawal fee.
According to the Association of Banks in Malaysia (ABM), the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), and the Association of Development Finance Institutions of Malaysia (ADFIM), Malaysians will soon have access to more than 14,000 ATMs and SRMs.
Only applies to ATMs and SRMs operated by banks in Malaysia
The newly announced fee waiver was implemented in collaboration with Payments Network Malaysia Sdn Bhd (PayNet) to make financial services more convenient, affordable, and inclusive.
Despite the steady transition towards a…