Starting 1 July 2026, customers of all banks in Malaysia can withdraw cash at any bank’s ATM or smart recycler machine (SRM) without paying the RM1 fee. – Bernama file photo
KUCHING (June 15): The RM1 interbank automated teller machine (ATM) cash withdrawal fee will be waived effective July 1, 2026.
“Starting July 1, 2026, customers of all banks in Malaysia can withdraw cash at any bank’s ATM or smart recycler machine (SRM) without paying the RM1 fee.
“This initiative allows Malaysian debit card holders to access over 14,000 ATMs and SRMs nationwide, regardless of their issuing bank, with unlimited free cash withdrawals,” announced three bank associations in a joint statement on Monday.
They were the Association of Banks in Malaysia (ABM), Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) and Association of Development Finance Institutions of Malaysia (ADFIM).
They said the waiver applies to ATMs and SRMs operated by banks in Malaysia.
Undertaken in collaboration with Payments Network Malaysia Sdn Bhd (PayNet), they said this initiative reflects the banking industry’s ongoing commitment to making financial services more accessible, inclusive and affordable for its customers.
According to the associations, the banking industry recognises that cash remains an important and essential means of payment for many Malaysians in managing their daily lives.
In line with this, the removal of the interbank ATM cash withdrawal fee reflects the industry’s commitment to ensuring reliable, convenient and affordable access to cash, while helping to ease the everyday financial burden on the public.
“This initiative underscores the banking sector’s continued efforts to support all segments of society by ensuring that customers have access to practical, inclusive and customer-centric financial services.
“While cash remains an important option for many communities, the industry is equally encouraged by the growing adoption of digital and cashless payments across the country,” they pointed out.
As Malaysia progresses towards a more digital economy, they said banks will continue to strengthen and promote secure, seamless and convenient cashless payment solutions as a viable alternative for everyday transactions.
