Just recently, Alliance Bank made an announcement that the MyDebit Cash Out fee has been revised. Starting from 1 July 2022 onwards, the initial RM0.00 fee will become RM0.50 per cash-out transaction by every MyDebit cardholder.
In the company's newsroom, it's also mentioned that the withdrawal of cash is applied to selected merchants and retailers. On top of that, it's not just Alliance but the announcement echoed through other banks with the likes of CIMB, HSBC, Bank Islam, OSBC and Standard Charted.
Despite that, PayNet, which is the provider of MyDebit Cash Out didn't release any statement about it yet. Many other banks that accept MyDebit Cash Out such as Affin Bank, Maybank, Public Bank, UOB and others, haven't made any announcements for some reason. Nevertheless, MyDebit users should just take note of this and be aware of the upcoming imposed RM0.50 fee.
For the uninitiated, MyDebit Cash Out allows Malaysians to withdraw money from selected merchants or retailers directly to purchase items and products. It's also worth noting that PayNet's other services like DuitNow, JomPAY, DirectDebit, FPX, and Interbank GIRO aren't affected by this change.
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