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Business & Finance

SBP says not directed banks to charge on ATM balance inquiry

  • This comes after reports made rounds that the central bank has directed banks to deduct Rs2.5 on each transaction or balance inquiry.
Published February 10, 2021
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The State Bank of Pakistan (SBP) has clarified that it has not issued any directive on banks to impose charges on balance inquiry through Automated Teller Machines (ATMS).

This comes after reports made rounds that the central bank has directed banks to deduct Rs2.5 on each transaction or balance inquiry through ATMs in the form of service charges for the slips.

As per media reports, the SBP said that the central bank has not issued any directive to charge for issuing ATM receipts, however, banks are free to charge customers for their services. The charges levied by the banks are published in the Schedule of Charges.

In this regard, the spokesperson further said that the SBP has fixed the limit of charges on certain services, the banks are authorized to charge for their services, provided they do not contradict any directive of the SBP.

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