A few days ago, some Malaysians voiced out their fury over have to pay extra transaction fees for payments made over the counter (RM2) and via cash deposit machines (RM0.50).
Following the outrage, The Star reported that all Malaysian commercial banks (26) have axed the charges for “cash and cheque transactions” for credit card and loan repayments which are made via OTC (over-the-counter) and CDMs (cash deposit machines).
The Association of Banks in Malaysia said in a statement that all 26 banks – which are represented by them – will no longer charge a fee for the transactions made via OTC or CDMs. In their statement, ABM wrote,
“Currently, certain customer segments are already waived from these charges, such as for disabled persons and senior citizens.”
“For walk-in customers, there are available free and convenient alternatives to conduct banking transactions and obtain services as provided via automated teller machines (ATM).”
Banks in Malaysia will stop charging fees for cheque & cash payments for credit card & financing repayments over the counter, and at Cash Deposit Machines (CDM). This is amid backlash from customers, who were charged RM2 for over the counter services & 50sen for using the CDMs pic.twitter.com/UMCvLoX33q
— BFM News (@NewsBFM) September 27, 2019
Bernama wrote that ABM further added that the banks’ staff will be assisting and communicating with the customers through their “communication touchpoints” and the respective banks’ website. Not only that but the staff will also help customers with alternative channels and their doubts regarding this issue.
Well, that’s great, isn’t it? Do you think it was a good move to remove the extra charges mentioned above? Let us know in the comments below!
FYI, six months ago, banks (eg, Maybank) announced that they will be charging extra fees for loan and credit card repayments made via cash/cheque through OTC and CDMs. You can read more about it below!
M’sians Can Party Anytime, Anywhere With HUAWEI’s New Dual Subwoofer Smart Speaker! Here’s Why You Need One
Are you tired of listening to your music through speakers that sound like a tin can? Maybe it’s about time...
M’sians Share How The Internet Helped Them Survive & Earn A Living During The MCO
Since the pandemic started, many businesses have taken quite a hit. They’re making less money due to fewer customers as...
Vitamin C: 5 Fascinating Facts M’sians Need To Know About The Most Popular Vitamin In The World
Ever since we were kids, our moms would tell us to take vitamin C so we don’t get sick. Most...
- News19 hours ago
15yo Kills Mum For Being Too Strict; May Be Due To Psychological Effects in Single-Parent Families
- Viral23 hours ago
Video: PDRM Officer Repeatedly Kicks Suspect Who Tried To Runaway Near Jalan Ampang
- Feature19 hours ago
Meet Tan Qi Xyuan, The Artist Behind The Incredible Overwatch Map Inspired By Penang
- Malaysia1 day ago
JUST IN: Guidelines For M’sian School Reopening To Be Distributed Nationwide Tomorrow