The National Union of Bank Employees (NUBE) has extended its ‘One Million Signature Campaign To Abolish RM1 Interbank ATM Withdrawal Fee’ to May 1.
The group, which had initially set March 1 as its deadline, decided to extend the campaign as it has yet to reach its target.
Its general-secretary J. Solomon said some 60,000 signatures have been collected thus far.
“Most signatures came from our online and physical signature drive.”
“There are also those who are supportive of the cause but are reluctant to disclose their personal details,” he said.
Solomon also dismissed suggestions that the campaign may not be gaining traction, as many preferred using cashless transactions including QR code payment.
“Many of those who have supported our campaign and have signed our petition are the younger generation including students,” said Solomon.
“Their parents send them money via their ATM accounts and the students who withdraw this money are most affected.”
“Even if we do not hit our 1 million target by May 1, we will submit our petition to the government,” he added.
Launched in late December, the campaign aims to urge Payments Network Malaysia Sdn Bhd (PayNet) and its largest shareholder, Bank Negara Malaysia, along with the 11 shareholder banks (Maybank, CIMB, Public Bank, RHB, Hong Leong Bank, Bank Islam, Bank Muamalat, Affin Bank, AmBank, Alliance Bank, and Bank Rakyat), to abolish the RM1 ATM interbank withdrawal fee for cash transactions.
Solomon had previously said that it is an injustice for PayNet to continue raking in millions by charging RM1 for ATM withdrawals from banks other than the issuing bank. Solomon noted that data from 2023 shows PayNet reported RM544 million in gross revenue and a net profit of RM271 million.
Since its launch, several civil society groups have supported NUBE’s call to abolish the RM1 fee and have urged banks to absorb the RM1 charge for each interbank withdrawal instead of imposing the fee on customers. The groups include the Malaysian Trades Union Congress (MTUC), the Federation of Malaysian Consumers Associations (Fomca), and the Social Protection Contributors’ Advisory Association Malaysia.
Several politicians, including DAP Kepong MP Lim Lip Eng, PKR Selayang MP William Leong, and former Penang deputy chief minister P. Ramasamy, have also supported calls to abolish the RM1 fee.
To sign the petition, visit NUBE’s website, and Change.Org.
