Kuala Lumpur: Customers of all banks in Malaysia can withdraw cash at any bank’s automated teller machine (ATM) or smart recycler machine (SRM) without paying the RM1 fee starting July 1, 2026.
The initiative allows Malaysian debit cardholders to access over 14,000 ATMs and SRMs nationwide, regardless of their issuing bank, with unlimited free cash withdrawals, according to a joint statement from three financial services industry associations today.
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The statement was issued by the Association of Banks in Malaysia (ABM), the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), and the Association of Development Finance Institutions of Malaysia (ADFIM).
“This initiative allows Malaysian debit cardholders to access over 14,000 ATMs and SRMs nationwide, regardless of their issuing bank, with unlimited free cash withdrawals,” they said, adding that the waiver applies to ATMs and SRMs operated by banks in Malaysia.
The associations said this initiative, undertaken in collaboration with Payments Network Malaysia Sdn Bhd (PayNet), reflects the banking industry's ongoing commitment to making financial services more accessible, inclusive and affordable for its customers.
“The banking industry recognises that cash remains an important and essential means of payment for many Malaysians in managing their daily lives.
“In line with this, the removal of interbank ATM cash withdrawal fee reflects the industry’s commitment in ensuring reliable, convenient and affordable access, while helping to ease the everyday financial burden of the rakyat,” they added.
