KUALA LUMPUR, June 16 — Bank customers across Malaysia will enjoy unlimited free interbank cash withdrawals at ATMs and Smart Recycler Machines (SRMs) starting July 1, following the abolition of the RM1 withdrawal fee.
The initiative, implemented by banks in collaboration with Payments Network Malaysia (PayNet), covers more than 14,000 ATMs and SRMs nationwide.
Banking industry associations said the move recognises that cash remains an essential payment method for many Malaysians and aims to ease the financial burden on consumers.
They added that while the banking sector continues to promote secure digital and cashless payment options, customers should retain the flexibility to choose their preferred payment method.
