Do you know that banks only allow withdrawals and deposits above RM5,000 over the counter?
Many Bintuluans probably never heard of the rule, as bank branches in town often relax the rule to accommodate elderly, illiterate customers to do over the counter transactions.
Any transactions below the RM5,000 threshold should be done at the cash deposit and the automated teller machines (ATMs)
Bank has long intensely promoting electronic transactions as a path toward efficiency and cost saving.
According to Bank Negara the campaigns are so successful that its most recent statistics showed that as many as 73.1% of the Malaysian population were already using Internet banking, up from just 9.8% in 2005.
In Kuala Lumpur, bank branches starting from May 1, will charge RM5 for over-the-counter transactions.
Banks have put up notices advising customers to use the cash deposit machines if they want to deposit less than RM5,000.