RM1 Interbank ATM Cash Withdrawal Fee Exemption Takes Effect
THE RM1 fee exemption for interbank ATM cash withdrawals has taken effect smoothly starting 1 July 2026, as part of the banking industry’s efforts to ease the cost of living while improving access and convenience of daily banking services for Malaysians.
In a joint statement today, 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) informed that the initiative eliminates the RM1 charge that was previously imposed when customers withdraw cash through ATMs operated by banks other than their own.
“To avoid confusion, this fee exemption applies to ATMs operated by banks nationwide. Standard charges may still be imposed for the use of non-bank ATMs,” the associations stated.
The move, according to them, reflects the broader aspiration to build a more inclusive and accessible financial system by prioritising the daily needs of the people.
“The banking industry through ABM, AIBIM and ADFIM works closely with Payments Network Malaysia Sdn Bhd (PayNet) to ensure that this initiative is implemented smoothly and that its benefits can be enjoyed by the people immediately,” the statement read.
The associations informed that customers may refer to their respective banks’ official communication channels, including websites, mobile banking applications, and customer service centres, for further information regarding the implementation of the RM1 interbank ATM cash withdrawal fee exemption.
Bernama