The UMNO Youth League urges the Minister of Finance to revoke the decision to reinstate the RM1 fee for interbank withdrawals from February 1!
UMYC chief Datuk Asraf urged Finance Minister Datuk Seri Tunku Zafrul to withdraw the decision to impose the inter-bank fee. He pointed out that the people are still facing the problems of cash flow, unemployment and rising prices, and it is inappropriate to reintroduce the RM1 fee for inter-bank withdrawals at this time.
Asraf said the financial sector made huge profits last year, so the bankers should absorb the RM1 fee for interbank withdrawals on their own.
When the government implemented the Operation Control Order in 2020, banks in the country announced a temporary waiver of the RM1.00 fee for inter-bank withdrawals in order to facilitate people’s withdrawals and avoid cross-county withdrawals. With the government opening up economic activities and lifting the ban on movement restrictions, banks resumed charging the RM1.00 fee for inter-bank ATM withdrawals from February 1.
For example, if you have a Hong Leong Bank card and you want to withdraw money from a Maybank ATM, you will have to pay a RM1.00 fee. If you hold a Maybank bank card and then withdraw at a Maybank ATM, you will not be charged the RM1.00 fee.
