Kuala Lumpur: Bank customers who are still being charged the RM1 fee for interbank cash withdrawals at bank-owned automated teller machines (ATMs) are urged to lodge complaints with Bank Negara Malaysia (BNM), Communications Minister Datuk Fahmi Fadzil (pic) said.
He said BNM could take follow-up action against any bank that failed to comply with the waiver of the RM1 fee, which came into effect on Wednesday (July 1).
“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 BNM for further action,” he told the Communications Ministry’s weekly press conference here, Thursday.
According to him, BNM had clarified that the fee waiver applies only to ATMs owned and operated by banks participating in the shared ATM network, allowing customers to withdraw cash from any of these machines without incurring the RM1 charge.
The fee waiver now covers about 84 per cent, or nearly 16,000, of all bank-owned ATMs nationwide, he said.
Fahmi, who is the Madani Government spokesman, said the remaining 16 per cent of ATMs are operated by non-bank private companies under separate commercial arrangements and will continue to impose the RM1 withdrawal fee.
He said the clarification was issued following public enquiries on social media regarding the implementation of the fee waiver for ATM cash withdrawals.
To avoid confusion, he advised customers to identify bank-owned ATMs by the bank’s logo displayed on the machines instead of using third-party-operated ATMs.
He said the Association of Banks in Malaysia (ABM) and the Malaysian Islamic Banking and Financial Institutions Association (AIBIM) are expected to issue a joint statement soon to provide further details on the implementation of the fee waiver.
In a separate development, Fahmi said the establishment of a Global Development Centre by an international financial technology company at Tun Razak Exchange (TRX) is expected to strengthen Malaysia’s position as a global innovation hub for digital talent and financial technology, particularly in Agentic AI.
According to him, the company’s first investment of its kind in Malaysia reflected strong foreign investor confidence in the country’s political stability and the economic policies introduced under the Madani Government.
“This is the first time an international financial technology company has established such a global centre in Malaysia. It demonstrates that the political stability and policy consistency under the Madani Government have strengthened investor confidence, particularly among foreign investors, to continue choosing Malaysia as a preferred investment destination,” he added.
