All Banks In Malaysia Will Waive RM1 MEPS Fee For Interbank Withdrawals Until The End Of MCO

meps waiver dato' sri ismail sabri bin yaakob

meps waiver dato' sri ismail sabri bin yaakob

Starting from 6 April 2020, all banks in Malaysia will temporarily waive the RM1 MEPS ATM withdrawal fee for using the ATMs of other banks. Announced by the Minister of Defence, Dato’ Sri Ismail Sabri bin Yaakob, the fee exemption is in line with the ongoing movement control order (MCO), and will continue until the end of the period.

According to Dato’ Sri Ismail, this move was initiated to encourage people to move only within nearby areas during the MCO. With the RM1 fee temporarily removed, customers are free to conduct their withdrawals at the ATMs of any bank closest to their homes, instead of travelling further to use the ATM of a specific bank.

Prior to this announcement, OCBC Bank had already begun exempting the MEPS fee for interbank withdrawals since 25 March 2020, ending on 30 April 2020. UOB Bank followed soon on 30 March 2020, stating that the exemption will be offered until the end of the MCO period. The bank also said that it will reimburse all MEPS ATM withdrawal fees incurred from 18 March until 31 March 2020 to its customers, within 60 days after the MCO period.

Maybank also announced earlier today that it will be waiving the inter-bank withdrawal fee starting from 6 April 2020 until the end of the MCO period.

During this period of time, bank customers are encouraged to opt for cashless payments – such as debit and credit cards, as well as e-wallets – so that they can reduce the number of unnecessary trips to the ATMs. While Bank Negara Malaysia (BNM) has assured that these self-service terminals will still be fully operational in accessible locations, the daily operating hours have been restricted to limited time slots.

(Source: Majlis Keselamatan Negara)

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