A few banks in the country have started charging an unannounced fee on the receipt following cash withdrawal from ATMs.
The cost of online transactions has increased after the new practice came into effect. On the other hand, this has opened a new avenue for banks to improve their earnings and cut costs.
Customers, however, have been surprised by the banks’ move. The receipt shows the amount withdrawn and the balance available.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.
“State Bank of Pakistan (SBP) has issued no directives to commercial banks to charge (fee) against the service for balance inquiry through ATMs,” the regulator said. “However, the banks have the right to charge against services on the condition that the charges do not contradict any of its (SBP) directives.”
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.