Pakistan: Banks begin charging ATM receipt fee

Few banks across the country has started charging an unannounced fee during money transaction from ATMs.

According to the details, the cost of online transactions has increased after the new practice came into effect. Also, the move has opened a new avenue for banks to improve their earnings and cut costs.

The receipt shows the amount withdrawn and the balance available. It is an optional receipt meaning that it is up to the ATM user to choose to receive it or not.

“My bank has charged me Rs2.5 for choosing to receive the receipt,” a bank customer said.

He revealed that he received a text message on his mobile phone from his bank, citing that Rs2.5 had been deducted.

“When I contacted my bank’s call centre, I came to know that the amount was deducted for choosing to receive the receipt,”he said.

Pakistan is facing a huge challenge to widen its online banking consumer base and different kinds of fee on banking services are considered hurdles in the way of enhancing the number of online banking users.

Moreover, banks/microfinance banks (MFBs) installed 158 new ATMs during the quarter ended September 30, 2020, taking the total number of ATMs in the country to 15,770.