You Can Soon Withdraw Cash From Different Bank ATMs for Free

By Danial Martinus • 16 Jun 2026 in News

Thirsty for JUICE content? Quench your cravings on our Facebook, Instagram, TikTok and WhatsApp

(source: Sharul Hafiz Zam / New Straits Times)

Starting 1 July 2026, Malaysians can withdraw cash from any ATM for free, regardless of their issuing bank, marking the abolishment of the RM1 interbank cash withdrawal fee.

According to 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), Malaysians will soon have access to more than 14,000 ATMs and SRMs.

Only applies to ATMs and SRMs operated by banks in Malaysia

The newly announced fee waiver was implemented in collaboration with Payments Network Malaysia Sdn Bhd (PayNet) to make financial services more convenient, affordable, and inclusive.

Despite the steady transition towards a predominantly cashless society, there are still many aspects of Malaysian life that still rely on cash, especially regarding smaller businesses. There are also those who just like having backup cash on hand in case of emergencies.

“This initiative reflects 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,” the associations said.

“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.”

The RM1 interbank cash withdrawal fee was briefly waived in 2020, as Malaysia’s government imposed the Movement Control Order (MCO) during the COVID-19 pandemic. It was later reinstated in 2022.