SBP asks Pakistani banks to deduct Rs2.5 on each ATM transaction

ISLAMABAD – The State Bank of Pakistan (SBP) has asked all banks to charge customers Rs2.5 on each transaction and balance inquiry through ATM [Automated Teller machine] machines.

The new bank scheduled charges were to implement with the advent of the New Year i.e. Jan 1, 2021 but they could not come into effect for some reasons.

The amount is received as cost of slips taken by customers after each transaction, told a representative of a Habib Bank Limited (HBL), which social media users say is the first bank to implement the policy, when contacted through helpline.

The representative also confirmed that the service charges are being deducted from Feb 1. The customers will have to pay the Rs2.5 whether they use own bank’s ATM or others’.

The latest addition in the bank service charges has sparked a fury on social media with some labeling it as “absurd”. Here are some reactions;