The debate over the RM1 interbank ATM withdrawal fee has resurfaced. Pasir Mas MP Ahmad Fadhli Shaari is calling for its abolition, arguing it burdens low-income Malaysians while generating substantial profits for banks.
MP Calls for Abolition of RM1 Interbank ATM Withdrawal Fee
Financial reports reveal significant profits for Malaysia’s top banks. Fomca urged banks to absorb the fee, citing unfairness for low-income earners.
Economic analyst Dr. Aimi Zulhazmi Abdul Rashid agreed, saying IT and security costs shouldn’t be passed onto consumers. Ahmad Fadhli highlighted Payments Network Malaysia’s substantial revenue from the fee and called for its removal.
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