No more RM1 ATM fee from 1 July 2026

You soon won’t need to find a specific ATM from your specific bank anymore to withdraw cash, as Malaysians will be able to withdraw cash from any ATM without paying a RM1 interbank withdrawal fee from 1 July 2026 onwards.

This comes as the Association of Banks in Malaysia (ABM) confirmed the move, with now allows Malaysian debit cardholders to access over 14,000 ATMs and smart recycler machines (SRMs) to withdraw cash nationwide, regardless of your issuing bank. The waiver applies to all ATMs and SRMs operated by banks in Malaysia, and is done in collaboration with PayNet Malaysia.

According to the ABM, the banking industry recognises that cash is still an important and essential payment method for many Malaysians, and so they have decided to permanently remove the RM1 interbank ATM cash withdrawal fee to ease everyday financial burden and ensure reliable and convenient access to cash.

“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,” – Association of Banks in Malaysia

Of course, this wouldn’t be the first time the interbank withdrawal fee was waived. Back during the pandemic times, it was temporarily waived, but would later be reinstated in 2022. At least soon you can go back to just any ATM to withdraw your cash.

Read more of our articles below!