CIRCULAR
To	:	All SAN Participants
From	:	Operations Division, PayNet
Date	:	2 September 2024
Subject	:	Imposition of Interbank Cash Deposit (IBCD) Service Fee
Product	:	SAN
Reference Number	:	PN/AO/0924/001

 

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Dear SAN Participants,

Following the PayNet Engagement Forum held on 17 July 2024 and the information shared in the circulated slide, we wish to inform you of the latest developments regarding imposition of service fees for IBCD transactions under Shared ATM Network.

Based on the discussions between Bank Negara Malaysia (BNM), the industry, and PayNet over the past year and the onboarding of Acquirers for IBCD is gaining momentum, the PayNet Group Board Rules Committee (GBRC) has approved the implementation of a new service fee structure due to reciprocity concerns and to support interoperability of financial services at unserved and underserved areas.

Service Fee Imposition: Effective 1 July 2025, a service fee of RM3.00 per transaction will be imposed. This fee will be payable by the Beneficiary Bank to the ATM owner/acquirer for deposits made at the latter’s Cash Deposit Machines (CDM) or Cash Recycler Machines (CRM), provided that the Beneficiary Bank has not enabled IBCD at its own CDM/CRM.

Service Fee processing details:

1. Monthly Extraction: PayNet will extract data on IBCD transactions for Beneficiary Bank that have not enabled IBCD as an acquirer on monthly basis. The corresponding charges will be processed at the end of the following month (e.g., transactions for October 2025 will be charged to Beneficiary Bank and paid to acquiring bank by the end of November 2025);
2. Customer Transaction Fee: This Service Fee is separate from the RM1.00 cash deposit transaction fee currently paid by accountholders and should not be transferred to the accountholders. There will be no change to the existing customer transaction ceiling fee of RM1.00;
3. Fee Abolition: The Service Fee will be abolished for the Beneficiary Bank once IBCD is enabled at their CDM/CRM; and
4. Operational Procedures (OP): This fee will be reflected in the OP for SAN and the Overlay Service Procedures for IBCD upon their revision release;

We appreciate your continued collaboration, commitment, and support. Should you have any queries or require additional information, please reach out to PayNet Always On:
          •  Marcus Lim Wooi Loon: Marcus@paynet.my 
          •  Anderson Lee Wei Leong: Anderson.lee@paynet.my

Thank You.

Chua E Long
Chief Operating Officer

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