Mobile banking and finance concept
In order to boost donations to the Relief Fund for COVID-19, State Bank of Pakistan (SBP) has decided to abolish all service charges on payment cards including debit, credit, and prepaid cards.
Accordingly, all issuing and acquiring banks in Pakistan shall not charge any service fee including Interchange Reimbursement Fee (IRF), Merchant Discount Rate (MDR), Merchant ID Fee, onboarding fee or any other fee that may be applicable on any transactions made to the said account.
According to the statement:
Likewise, withdrawal of Service Charges on Donations/ Payments to Supreme Court of Pakistan’s Diamer Bhasha and Mohmand Dam Fund through Payment Cards. It has been decided that the scope of the Circular issued previously would also cover Payments/Donations made to the Prime Minister’s as well as provincial governments’ Covid19 Pandemic Relief Funds.