Communications Minister Datuk Fahmi Fadzil urged bank customers to lodge official complaints with BNM if they still incur the RM 1 ATM withdrawal fee, he told Bernama.
Regulators encourage users to report these instances directly to the central bank for further regulatory action.
Introducing a national fee waiver yesterday sparked these new regulatory guidelines.
Bank Negara Malaysia will take subsequent action against any financial institution that fails to comply with the new mandate.
Only automated teller machines owned and operated by banks participating in the shared network qualify for the waiver.
Cash withdrawals can now be completed at these participating machines without incurring the standard RM 1 transaction fee.
Approximately 84% of all bank-owned ATM terminals nationwide currently fall under the new waiver.
Nearly sixteen thousand individual withdrawal terminals across the country represent this majority share.
Fahmi noted that non-bank private companies operate the remaining 16% of machines under separate commercial arrangements.
This includes operators like Euronet, which recently acquired the MEPS network from PayNet to become the largest independent non-bank operator in the country.
These private entities will continue to impose the standard withdrawal fee for all cash transactions.
The communications minister advised the public to look for official bank logos on the machines to avoid any confusion.
Featured image: Edited by Fintech News Malaysia based on an image by masaideeabdulkoday70 via Magnific.
