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Business & Finance

Fake News: SBP rejects messages on ATM cash withdrawal limit

  • “SBP does not put any limit on ATM withdrawal limit. Banks decide about such limits,” it added.
Published January 23, 2021
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The State Bank of Pakistan (SBP) has rejected messages circulating on social media, regarding restrictions on ATM withdrawal exceeding Rs 1000.

In a series of tweets, the State Bank ‘categorically rejected’ such messages. “SBP categorically rejects the false message making rounds on social media, attributing to it that ATM cash withdrawal limit is restricted to Rs. 1,000,” said the central bank in a statement.

“SBP does not put any limit on ATM withdrawal limit. Banks decide about such limits,” it added.

The statement comes after it was learned that messages are being circulated on social media stating that the State Bank of Pakistan (SBP) had placed an ATM withdrawal limit of Rs 1,000 was placed from January 21 till January 31, 2020.

People even reported receiving the fake message through SMS.

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