Many people have been charged Rs2.50 at Automated Teller Machines (ATM), creating buzz on social media. But what is it all about?
As per details of the new charges, the State Bank of Pakistan (SBP) has not issued any directives to commercial banks to charge against the service of transaction receipts.
But 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.
1Link, which provides ATM services to the banks in Pakistan, came up with a unique justification in their official statement.
Ther payment switch operator stated that the SMS Service is free and could be used as an alternative. Many banks charge an amount ranging from Rs50 to 75 + tax on a monthly basis. Notwithstanding, the central bank directed them to make SMS services free.
The fee of Rs2.5 on printing 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.
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