10th March 2026 - 2 min read
Running out of free ATM withdrawals can turn a quick cash withdrawal into an extra charge. For some bank customers, that small fee may soon disappear.
HSBC Bank Malaysia will waive ATM withdrawal fees [PDF] for its Basic Savings Account and Basic Current Account starting 1 April 2026, removing the RM1 charge that previously applied after exceeding the monthly withdrawal limit.
Previously, customers holding HSBC Basic Savings Accounts or Basic Current Accounts were charged RM1 per transaction when they exceeded eight ATM withdrawals in a month.
Under the revised tariff, that fee will be fully waived, meaning ATM cash withdrawals will no longer incur the RM1 charge regardless of how many times customers withdraw cash.
The change applies specifically to ATM cash withdrawals for these two account types.
HSBC confirmed that the updated tariff and charges will come into effect on 1 April 2026, with the revised fee structure reflected on its public website from that date.
Customers do not need to take any action for the waiver to apply.
Basic Savings Accounts and Basic Current Accounts are typically designed as low-cost banking options that meet minimum financial service requirements.
These accounts are often used by customers who need simple banking services such as deposits, withdrawals, and bill payments without higher monthly fees or balance requirements.
Removing the ATM withdrawal fee reduces the small transaction costs that can accumulate for customers who rely on cash more frequently.
For customers who rarely exceed eight withdrawals a month, the change may not significantly affect their banking costs.
However, those who regularly withdraw cash could see a small reduction in transaction charges over time. For example, withdrawing cash 12 times a month previously meant paying RM4 in extra fees.
The change does not affect other banking charges or account features, and it only applies to HSBC’s Basic Savings and Basic Current Accounts.
While the savings per transaction are small, removing everyday banking fees is still a positive step. Small charges tied to routine activities like cash withdrawals can add up over time, so it is encouraging to see banks gradually reduce or remove some of these costs for customers.
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Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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