Joint media statement by The Association of Banks in Malaysia (ABM), Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), and Association of Development Finance Institutions of Malaysia (ADFIM)

KUALA LUMPUR, 15 June 2026 — Starting 1 July 2026, 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.

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. The waiver applies to ATMs and SRMs operated by banks in Malaysia. 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.

Making Everyday Banking More Convenient

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.

This initiative underscores the banking sector’s continued efforts to support all segments of society by ensuring that customers have access to practical, inclusive, and customer-centric financial services. While cash remains an important option for many communities, the industry is equally encouraged by the growing adoption of digital and cashless payments across the country.

As Malaysia progresses towards a more digital economy, banks will continue to strengthen and promote secure, seamless, and convenient cashless payment solutions as a viable alternative for everyday transactions. Ultimately, the industry remains committed to empowering customers with the freedom to choose the payment method that best meets their needs, while advancing financial inclusion and enhancing the overall banking experience for all Malaysians.