[UPDATED] Banks set to reinstate RM1 MEPS withdrawal fee on Feb 1, triggering netizens’ outburst 

KUALA LUMPUR – The decision by banks in the country to reimpose the RM1 Malaysian Electronic Payment System interbank ATM withdrawal fee starting February 1 has triggered netizens to air their frustrations on social media to express their displeasure over the issue.

In April last year, then senior defence minister Datuk Seri Ismail Sabri Yaakob had announced that all banks in Malaysia will temporarily waive the fee imposed on withdrawals – made at ATMs that differ from the account holder’s bank – until the end of the movement control order (MCO) period.

Checks by The Vibes found banks that will be reimposing the fees include Maybank, CIMB Bank/CIMB Islamic Bank, Hong Leong Bank, Ambank, and Public Bank.

Moreover, Bank Islam, HSBC Bank, Citibank, and Kuwait Finance House are among the other banks involved.

According to announcements made on the banks’ social media accounts, the fee will be reimposed effective February 1.

It is understood that customers making withdrawals from the ATMs of their respective banks would not be charged any withdrawal fees.

The reactions of netizens towards these announcements varied, with some making light of the move.

“One good thing from the pandemic will be gone,” said Facebook user Fadzli Segari with a “crying” emoji, referring to the government’s move that was aimed at reducing congestion at banks during the MCO.

Netizen Zuraidy Samsudin commented: “Looks like we need to withdraw all our money and go back to keeping it under the mattress.” The comment has received over 50 “laugh” reactions at press time.

Other users sought to highlight the economic hardships faced by Malaysians during the pandemic and its resultant MCOs.

“It’s such a pity – to the poor, RM1 is very expensive,” said Twitter user Naty.

kesian lah bodohhh kat orang miskin 1 ringgit tu mahal wehh https://t.co/nsHTorEAKd

— naty ? (@bellanattty) December 15, 2021

Some also pointed out that banks are raking in high profits despite the fee waiver.

“Interbank ATM transactions without RM1 (fee are) working just fine, and the banks (are) still functioning well and make good profits,” said netizen Wan Agyl Wan Hassan.

Interbank ATM transaction without RM1 working just fine and the banks still functioning well and make good profits. Maintain that please @tzafrul_aziz @shaharabdllh . RM 1 might means nothing to you

— ??? ???? ??? ?????? (@WanAgyl) December 15, 2021

Twitter user @TradesnHedger echoed this view, urging Bank Negara Malaysia to abolish the charge entirely.

“Why can’t banks just do away with this RM1 charge? Banks already make billions of profits even during MCO when this charge was waved! @BNM_official hope you guys can consider this.”

Why can't banks just do away with this RM1 charge? Banks already make billions of profits even during MCO when this charge were waved! @BNM_official hope you guys can consider this.. https://t.co/daSMaVU7uP

— Trades&Hedger Inc. (@TradesnHedger) December 15, 2021

At press time, Bank Negara Malaysia has yet to respond to queries on the matter. – The Vibes, December 15, 2021