Here is why some banks are charging PKR 2.50 for an ATM receipt

The payment switch operator, 1Link, which provides ATM services to the banks in Pakistan, came up with a unique justification in its official statement.

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 Many people have been charged to pay PKR 2.50 for the Automated Teller Machines (ATM) transaction receipts. The initiative has created a buzz on social media.

In this regard, the State Bank of Pakistan has issued no directives to commercial banks to charge against the service. However, it allowed them to charge a fee for various other services, which the banks conveyed to the media and customers through its official communiqué.

One of the largest banks in the country, Habib Bank Limited (HBL), confirmed that the initiative is part of a “GO GREEN” exercise by 1Link to urge customers to avoid unnecessary use of paper and keep the environment clean.

The payment switch operator, 1Link, which provides ATM services to the banks in Pakistan, came up with a unique justification in its official statement.

The payment switch operator explained that the SMS service is free and could be used alternatively. However, this is not true at all. For instance, many banks charge an amount ranging from PKR 50 to PKR 75 plus tax monthly, although the central bank directed them to make SMS service free of cost.

ATM

Now, the fee of PKR 2.5 on printing of receipts has been implemented by some banks. One after another, banks will likely impose the charges on the customers. Some banks might use it as a marketing strategy to their advantage and refrain from this practice.

What are your views on this? Share with us in the comments below.

  • Shame on banks they looted customers for.being extra overrr charge atm annual charges sms charges and now they find new looyed way through atm receipt charge abd sbp is always sleep with bribe and bhung shame on sbp and banking dacoity looted system

  • SMS for digital transactions and conducted using debit / credit cards are free of cost. For updates regarding rest of the transactions customers are asked to opt for SMS services, they are charges a fee for that. Not all SMS services are free of cost as per SBP directives.


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