LAHORE – JazzCash, a Pakistani mobile wallet, and branchless banking services provider, has imposed additional fee on cash deposits through agents.
The company announced the development on its website, stating: “Cash deposit of Rs. 50 – Rs. 20,000 will now have a fee of 0.50 percent + FED while cash deposit above Rs. 20,000 will have a fee of Rs. 100 + FED”.
The transaction charges on cash deposits are applicable only at physical points such as franchise, retailer and experience center.
A spokesperson of the company told local media, “The State Bank of Pakistan (SBP) via circular dated May 12, 2023, provisioned a charge of 0.5% of the transaction amount, or PKR 100, whichever is lower, on cash deposit into M-wallets. Prior intimation in this regard was ensured to customers via JazzCash website and retailers were informed via SMS as well.”
