Do you know how many times you withdraw from ATM every month? Beware of the charges!!
April 1st, 2009 | by jys |I always thought that if the bank charged me annual fees for my ATM card, then I can withdraw from ATM for FREE without any limit. Until one day, I came across a forum discussion about this, then only I realized even the bank charged my ATM card annually, there might be limit on the withdrawal times per month too.
For Maybank, if we withdraw more than 4 or 5 times (not very sure they start charging on the 4th transaction or the 5th transaction) per month, they will charged us RM 0.50 (did they increase the charges?) for each subsequent withdrawal. But they don’t charge us annual fees, so as long as you withdraw 3 times per month, you’re safe.
As for Public Bank, I think they do charge us RM 12 annually. At first I thought I can withdraw unlimited times but when I checked their website, they actually did state there that the no of times we can withdraw per month is 8 times. So do not exceed 8 or else they will charged RM 1 for each subsequent withdrawals.
For CIMB, they charged RM 8 per year and there are no limits. You can withdraw everyday if you want to. hehe….
I’m not sure about other banks. Any of you had any idea?
Are you aware of these charges?
Tags: ATM, charges, CIMB, Maybank, Public Back, withdrawal
4 Responses to “Do you know how many times you withdraw from ATM every month? Beware of the charges!!”
By panda on Apr 1, 2009 | Reply
yeah, i knew about this changes.i think maybank started this thing about 2-3 years ago. not trust me, all my colleagues were complaining about this ridiculous ruling
Jys:
ya, but maybank don’t charge annual fees mar…
By synical on Apr 1, 2009 | Reply
I knew about it, for Public Bank.But I don’t do more than 8 withdrawals a month anyway, so I’m ok with that.
Jys:
ya, actually 8 times quite a lot also..but we must be aware of this lar. just in case…
By spBlogger on Apr 1, 2009 | Reply
I don’t understand why people tend to withdraw so many time per month. RM50 per transaction? Why take so less?I usually take once in 2 months.
Jys:
well, it’s either like you said, withdraw RM 50 each time, or… too much money in the account.. so one just keep spending and keep withdrawing lor.. hehe..
By Forever28 on Apr 8, 2009 | Reply
I have accounts in the banks that in your list… but only my Maybank account is the most active. I withdraw less than the limit, so no problem for me… hehe…
Jys:
ya, although we don’t withdraw that much but it’s still good to know…