16 December 2021

(Don't angry Maybank lah) All of these banks will be charging Interbank Withdrawal Fee also starting February 2022

Yesterday, I saw that many people are leaving their angry comments towards the Maybank posting stating that the bank will be imposing resume charging RM1 interbank withdrawal fee starting February 2022. What the heck?

Cool down, brader. 🆒🆒🆒

Read here with patience. Relax. Fyi, all Automated Teller Machines (ATM) are connected to the Malaysian Electronic Payment System (MEPS) network.

What does this interbank withdrawal fee mean?

This is the RM1 MEPS fee that will be charged when you want to make a cash withdrawal from an ATM belonging to a different bank. (e.g. you use your Maybank card to cash out money via a CIMB ATM machine)

Oh I see. Meaning, I can withdraw money from Maybank ATM using my Maybank card without any fee lah?

Yes. Clever. 😃 It's free if you're doing so. The fee is not applicable if you're withdrawing cash from an ATM belonging to the SAME bank.

Previously FREE mah. Why kena charge now?

MEPS fee waiver announcement back in April 2020 #throwback

Okay. Cool down. The announcement back then, that the RM1 interbank withdrawal fee was being waived, was supposedly due to the Movement Control Order period and it should have been over by now. Meaning, this is NOT a new fee being imposed, in fact, this fee is already there previously and now it will be REINSTATED back next year.

To celebrate these reinstatement announcements, let's have a record here. Which is the best announcement / design? 😜

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