Banks increase charges for ATM withdrawals from other banks

For cash withdrawals at ATMs from banks other than the account’s host bank, some commercial banks have increased the per transaction cost from Rs18.50 to Rs23.44.

Some banks have already begun charging their clients, while others are expected to do so within the coming weeks.

The details indicate that commercial banks, including United Bank Limited (UBL), Askari Bank, Bank Al Habib, Meezan Bank, Bank of Punjab (BOP), Telenor Microfinance Bank, and National Bank of Pakistan (NBP), updated their schedule of charges and increased the fees on cash withdrawals made by customers of various banks through their ATMs.

Banks like Bank Alfalah, MCB Bank, and Habib Bank Limited did not change the fees for cash withdrawals made through the Link 1 changeover. On the same account, these banks charge between Rs18.50 and Rs18.75 every transaction.

These fees make up a substantial portion of 1-Link Switch as well as a small portion of a bank that operates an ATM that is utilised by clients of other banks to conduct transactions.

Not all banks will necessarily use the same strategy. However, the majority of banks, are expected to gradually impose or increase the fees.