A Facebook post by a Singaporean public figure caught the attention of netizens recently, depicting his experience of using an ATM at the Senai International Airport in Johor.
In the post, Tan Kin Lian, a prominent businessman who had previously served as the CEO of NTUC Income (now known as Income Insurance Limited), expressed his shock at how one can use a bank card to withdraw cash from any ATM in Malaysia, even if it’s not your bank’s ATM.
A Singaporean public figure was shocked to find that you can withdraw money using other banks’ ATMs in Malaysia
He attached a photo of the ATM he used to withdraw money, which belongs to Bank Muamalat Malaysia.
Dubbing it an “ATM of an unfamiliar bank”, he said that he was able to withdraw cash from the ATM from his Maybank account as it’s linked to Malaysia’s MEPS clearing system.
Furthermore, despite having to pay an RM1 service charge to withdraw money, he said he didn’t mind paying the charge as it saves him from looking for the ATM of his bank.
He then praised the system, saying that it’s more efficient than asking individual banks to set up their own ATMs.
Tan further revealed that Singapore doesn’t have such an arrangement, and because of this, it has led to high operating costs in the country.
He asserted,
“Many petrol stations and convenience stores in Malaysia also offer ATM service that allows their customers to withdraw money by paying a RM 1 service fee.
“Singapore does not have this arrangement. It leads to high operating costs in Singapore.”
In another Facebook post, Tan shared a Maybank ATM card at a petrol station of an undisclosed location in Malaysia with the same MEPS arrangement.
He further praised the system, asserting,
“It allows cardholders of other participating banks to withdraw money from this ATM by paying a small service charge of RM 1.
“It is win, win, win for the customer and the participating banks. It also reduces waste and operating costs.”
So, what do you guys think of the posts by Tan? Share your thoughts with us in the comments.
Also read: Study: Malaysia Ranks 2nd Globally for Highest QR Code Usage in 2024, Just Behind China
