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.

According to BERNAMA News Agency, 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. This announcement was made through a joint statement from three financial services industry associations.

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). They emphasized that the waiver applies to ATMs and SRMs operated by banks across Malaysia.

The associations highlighted that this initiative, undertaken in collaboration with Payments Network Malaysia Sdn Bhd (PayNet), shows the banking industry's commitment to making financial services more accessible, inclusive, and affordable.

The banking industry acknowledges that cash is an essential means of payment for many Malaysians in managing their daily lives. In line with this, the removal of the interbank ATM cash withdrawal fee demonstrates the industry's dedication to ensuring reliable, convenient, and affordable access, thereby helping to ease the everyday financial burden of the rakyat.