Check for bank logos: RM1 ATM fee waiver only applies to bank-owned machines, says Fahmi

KUALA LUMPUR, July 2 — Communications Minister Datuk Fahmi Fadzil today reminded the public that the RM1 interbank ATM withdrawal fee exemption introduced yesterday only applies to ATMs owned and operated by banks, and not those run by independent operators under separate commercial agreements.

Speaking at his weekly post-Cabinet press conference, Fahmi said the clarification was necessary following questions raised on social media over the scope of the fee waiver.

“The exemption applies to bank-owned ATMs, which make up 84 per cent, or nearly 16,000 ATMs, nationwide.

“The remaining 16 per cent of ATMs are operated by independent, non-bank operators under separate commercial agreements and therefore do not fall within the scope of the RM1 fee exemption,” he said.

Fahmi said consumers could easily distinguish between the two, as ATMs operated by independent companies typically do not carry a bank’s logo.

“At present, all ATMs owned by banks have already waived the RM1 fee.

“However, ATMs that are not owned by banks, but by private companies, are operated by several independent providers.

“These ATMs generally do not display a bank’s logo, which is the easiest way to identify them. These companies operate under commercial agreements that are separate from those of the banks,” he said.

He also said Bank Negara Malaysia (BNM) had advised customers who were still charged the RM1 fee when withdrawing cash from a bank-owned ATM to lodge a complaint with the central bank so that follow-up action could be taken against the bank concerned.

The banking industry announced last month that customers of all banks in Malaysia would be able to make unlimited free interbank cash withdrawals at more than 14,000 bank-operated ATMs and Smart Recycler Machines (SRMs) nationwide from July 1.

The initiative was introduced jointly by the Association of Banks in Malaysia, the Association of Islamic Banking and Financial Institutions Malaysia, the Association of Development Finance Institutions Malaysia and Payments Network Malaysia Sdn Bhd (PayNet).