PETALING JAYA: The RM1 charge for interbank ATM withdrawals on the MEPS network should not be implemented, say Malaysians on social media.

       Facebook user Ron Rozmay was one, saying that the RM1 charge should be abolished as "even RM1 is still hard-earned money."

       Over on Twitter, user @_nazrin suggested that returning the RM1 charge is aimed at reducing expenses which will eventually increase profits to banks.

       "MEPS is owned by Paynet. Paynet's largest shareholder is Bank Negara Malaysia (BNM). And 11 banks in Malaysia are shareholders too. Banks still receive benefits from MEPS," tweeted the user.

       Feeling the same way, user @edthehairyfairy - who claims that he used to work at a bank - claimed that the RM1 fee for ATM withdrawal is split between each bank and MEPS.

       "So, both banks and MEPS profit from it," he said.

       It was announced on Wednesday (Dec 15) that several banks announced via their websites and social media that they will reimplement the RM1 fee for respective debit cardholders that make interbank cash withdrawals at the ATM of another bank.

       These banks - which include Maybank, Public Bank, CIMB and RHB - also said that customers can still withdraw cash without charge on their own bank's ATM.

       However, some social media users were singing a different tune altogether, saying that the RM1 charges are quite reasonable.

       One such person is Twitter user @HalmyMd who said that the charges are meant for MEPS and the ATM's operational costs as well as the cost to float cash.

       "Personally, I feel it's reasonable. It was not possible previously to do this with foreign banks as they were taking deposits so local banks have to service the (former's) customers," he said.

       Similarly, @NaqibAhmd11 said the RM1 charge is "still okay" compared to his bank that charges RM4 for the service, adding that the bank's native ATM is hard to come by.

       Meanwhile, Facebook user Calvin Foo, among many others, pointed out that Malaysians should just move on to using digital payment methods and that ATMs "should be phased out".

       Twitter user @faizmjamal also shared the same sentiment, saying that it's easier to go cashless since the RM1 charge will be making its return.

       "Eventually people won't want to use cash anymore. Easier to go cashless. Maybe one day you just have to blink to pay for things," he quipped.