This decision was announced by the Senior Minister Ismail Sabri in his daily media update this afternoon. According to the minister, the move was implemented after the government observed that there are still members of the public who prefer to withdraw money through counters at physical branches due to the fee.
The moratorium on the cash withdrawal fee will be implemented starting from this coming Monday, 6 April. Prior to this announcement, several banks including Maybank and OCBC Malaysia have already announced that they are waiving the interbank cash withdrawal fee. Naturally, Minister Ismail advised members of the public to practice social distancing when they perform transactions at ATMs and recommends using online service as much as possible in order to lessen their movements. Those are certainly the very things that we would recommend as well, so please stay safe, wash your hands, and stay home as much as you can to help stop the spread of COVID-19. (Main Image: IOI City Mall.)
