Maybank To Waive ATM RM1 Interbank Transaction Fee Until MCO Ends

As you know, interbank withdrawals at ATMs usually incur a fee, depending on the bank. Maybank has decided to waive its RM1 interbank fee charged at its self-service terminals starting next Monday, 6 April 2020. This will remain in effect until the end of the Movement Control Order (MCO).

According to Bernama, this is to allow customers of all banks make cash withdrawals at their nearest ATM, rather than having to go far looking for the ATM of their preferred bank. This is important during the MCO, as people are expected to only go out of their homes when absolutely necessary.

Maybank has over 2900 self-service terminals in the country, which includes cash deposit machines and ATMs. The large number likely allows it to be more widely distributed, and more accessible to people as a result. At the time of writing, it doesn’t appear that other banks have announced anything similar just yet.

This is good news if your nearest ATM is a Maybank one. This means you don’t have to travel as far as you usually do to make withdrawals whenever you go for a grocery run. But until other banks announce something like this, their users will still have to head to their own ATMs to avoid the interbank fee.

(Source: Bernama)

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