KUALA LUMPUR, June 15 -- Banks in Malaysia will waive the RM1 fee for interbank cash withdrawals at Automated Teller Machines (ATMs) and Smart Recycler Machines (SRMs) nationwide beginning July 1, 2026.

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) said the initiative, undertaken with Payments Network Malaysia Sdn Bhd (PayNet), would allow debit cardholders to make unlimited free withdrawals at more than 14,000 machines nationwide.

"The implementation of amendments to a gazetted local plan is a dynamic measure that takes into account the need to align current policies and address international...