Public Service Announcement (PSA)
Turns out that some of you are still not aware of the change in BANKING FEES for online transactions and normal cheques processing in Malaysia
Starting 2nd May,
- all online transactions (including on bank’s mobile banking app) will be reduced to RM0.10 per transaction
- Cheques transaction fees will be increased to RM0.65 (RM0.50 processing fee + RM0.15 service fee )
Bank Negara Malaysia Press Release here : http://www.bnm.gov.my/index.php?ch=en_press&pg=en_press_all&ac=2777
So imagine if you issue around 10 cheques per month, you will be paying around RM6.50 x 12 months = RM78 paid for the bank!