THE National Union of Bank Employees (Nube) has launched a signature campaign aimed at abolishing the RM1 interbank ATM cash withdrawal fee imposed by Bank Negara Malaysia.
The campaign seeks to gather a million signatures to be presented to the Ministry of Finance, highlighting the impact of this fee on the lower-income population.
“While RM1 may not appear big to many, it adds up to a huge amount over time and this is a burden to the lower-income group," said Nube secretary-general J. Solomon.
He said the campaign will take place both online through the Nube official website and Change.org, as well as through physical outreach where NUBE members will engage with the community nationwide.
The campaign comes at a time when many Malaysians are feeling the financial strain, he said.
Solomon noted that the majority of those affected by the RM1 fee are from lower-income groups, including many Nube members.
“It is an injustice for PayNet to continue raking in millions by charging RM1 for ATM withdrawals from banks other than the issuing bank. In 2023 alone, PayNet reported RM 544 million in gross revenue and a net profit of RM271 million,” he commented.
“The rich are getting richer, while the poor continue to suffer.”
Nube aims to raise awareness of the widespread opposition to the RM1 fee among Malaysians.
Solomon stated, “In pressing times like these, every cent counts. Nube is committed to helping alleviate the burdens faced by lower-income groups. We urge all our fellow Malaysians to support this cause and help make this signature campaign a success.” - December 25, 2024
