OCBC Bank Malaysia joins MEPS network

The lender’s entry to the network waives fees in ATM withdrawal via any OCBC branch in Singapore and Indonesia..

OCBC Bank (Malaysia) Bhd (OCBC Bank) is waiving ATM withdrawal fees for several categories of customers, including those making cross-border OCBC ATM withdrawals in Singapore and, from May onwards, in Indonesia as well.

Disclosing this at the introduction of its participation in the MEPS (Malaysian Electronic Payment System) network on Monday, OCBC Bank’s head of consumer financial services, Charles Sik, said premier and mass affluent banking account-holders in Malaysia would be allowed up to four free withdrawals every month at any MEPS or HOUSe ATM in Malaysia.

In addition, any OCBC Bank customer making a cross-border ATM withdrawal via any OCBC branch in Singapore and Indonesia (beginning May 1) would also have the fees waived.

Other OCBC users of the MEPS network will be charged the standard RM4 ($1.32) fee.

According to Sik, the service allows customers to make interbank cash withdrawals at more than 10,000 ATMs nationwide and have free access to even more in Singapore and Indonesia as well. Balance enquiries are also available for all except in Indonesia.

“In addition to interbank cash withdrawals for domestic and cross-border services, we will in due course enlarge our participation in MEPS to facilitate funds transfers, mobile top-ups and other related services.

View the full story in The Borneo Post.

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