Banks in Malaysia will waive the RM1 fee for interbank cash withdrawals at Automated Teller Machines (ATMs) and Smart Recycler Machines (SRMs) nationwide beginning July 1, 2026.
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), in collaboration with Payments Network Malaysia Sdn Bhd (PayNet), said the move will allow debit cardholders to make unlimited free withdrawals at more than 14,000 machines nationwide.
Free interbank ATM withdrawals nationwide
In a joint statement, the associations said the initiative reflects the industry’s commitment to providing accessible, inclusive and affordable financial services, while recognizing that cash remains an important payment option for many Malaysians.
They added that banks will continue promoting secure and convenient cashless payment methods as Malaysia moves towards a digital economy, while ensuring customers retain the freedom to choose their preferred payment mode.
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