Starting 1 July 2026, banks across Malaysia are removing the RM1 interbank cash withdrawal fee. This means you can use any bank's ATM or SRM (Smart Recycler Machine) nationwide without paying an extra cent. A joint initiative by ABM, AIBIM, and ADFIM, working alongside PayNet, the waiver applies to every local ATM or debit cardholder.
Malaysians still need cash?
While we’re all moving towards a cashless digital economy, you can now withdraw your cash at any of the more than 14,000 ATMs and Smart Recycler Machines (SRMs) in the country. In some places, particularly rural areas, cash is still the only method of payment.
What do you think? Should this have been implemented a lot sooner? Would it make you more likely to use cash or would you stick to your QR codes and debit cards? We think it’s a nice convenience and it’s great to get real cash for duit raya and angpows but do share your thoughts in the comments below and stay tuned to TechNave.com
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