THE National Union of Bank Employees (NUBE) is surprised with the response given by Deputy Finance Minister Lim Hui Ying over its campaign to abolish the RM1 interbank ATM withdrawal fee.
According to its deputy president Abdul Jamil Jalaludeen said this issue was raised by NUBE to Bank Negara Malaysia (BNM) in October last year and is crucial to the wellbeing of the lower income groups.
"As NUBE has pointed out, a private company is raking in hundreds of millions of ringgit annually by charging the RM1 fee.
"The reason this issue is critical at a time when living costs are rising is that the RM1 fee is only making a private company richer at the expense of the rakyat," he said in a statement.
He was responding to an earlier story in The Vibes where deputy finance minister Lim Hui Ying said a study should be conducted on NUBE's call to abolish the RM1 fee for interbank ATM withdrawals.
She said she is aware of the “Abolish RM1 campaign” but stressed that a study would be the best option before any decision is made on the matter.
Abdul Jamil said there is no rationale why the Madani government should be conducting a study on the need to abolish the RM1 fee when the reasons are obvious.
"NUBE is calling for the abolishment of the fee because it is an unnecessary burden on the poor rakyat.
"It does not make any sense why the rakyat have to pay to withdraw their own money, especially at a time when everyone is battling the rising costs of living," he said.
Numerous lawmakers, NGOs and consumer groups have already supported the abolishment of the RM1, acknowledging openly that it is an unnecessary burden to the rakyat.
"NUBE would like to urge the Madani government to take this matter seriously and make a firm decision to abolish the fee," added Abdul Jamil. – February 18, 2025
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