A few commercial banks have increased the per transaction fee from Rs. 18.50 to Rs. 23.44 for cash withdrawals at automated teller machines (ATMs) from banks other than the account’s host bank.
Some banks have even started charging their customers for this service, whereas some will apply the same charges to the service in the next few weeks.
According to the details, commercial banks, including United Bank Limited (UBL), Askari Bank, Bank Al Habib, Meezan Bank, Bank of Punjab (BOP), Telenor Microfinance Bank, and National Bank of Pakistan (NBP), updated their schedule of charges and have jacked up the charges on cash withdrawals through their ATMs by the customers of different banks.
These charges comprise a major share of 1-Link switch and a minor share of a bank that owns an ATM and is used by the customers of other banks for making transactions.
Major banks such as Habib Bank Limited, MCB Bank, and Bank Alfalah did not revise the charges for cash withdrawals by using the Link 1 switch. These banks are charging Rs. 18.50 to Rs. 18.75 per transaction on the same account.
In order to generate revenue, the government imposed an additional 10 percent super tax on commercial banks. On the other hand, the cost of operations has continued to go up, mainly on account of high electricity and transport charges. The banks are trying to offset their expenses through these charges.
It is not necessary that all banks will follow the same suit. However, a majority of the banks impose or make upward revisions in the charges gradually in order to avoid any action from the competition watchdog.
In 2012, the Competition Commission of Pakistan (CCP) issued show-cause notices to 1-Link and its 11-member banks for violations of the competition law. These banks imposed Rs. 15 charges on cash withdrawals through an ATM of a different bank at the same time.
ATMs in Pakistan
In Pakistan, 35 commercial and microfinance banks operate nearly 17,000 ATMs across the country. From January to March 2022, cash withdrawals of more than Rs. 2.4 trillion were made through ATMs.
Of these ATMs, nearly 80 percent were on-site ATMs, whereas 20 percent were off-site ATMs, installed at corporate offices, hospitals, shopping malls, etc.
The majority of the customers like to use the ATMs of the banks instead of the different banks due to their trust level and avoidance of switch charges.
What stupid step is this??May be public should empty their accounts & keep money with themselves from now on..this should teach these banks a lesson
You can withdraw cash from your bank’s ATM to avoid these charges.
Or us bank tak pnchne k liye 100 ka petrol lagaye
Boycott ATM Card
Public should keep money in cash.
Boycott ATM Card
Hate these blood sucking parasites. Banks from day one.
I am strictly against the decision, they already gain a high profit….shame on their money making thinking…not thinking for customers…
Pmln govt is already making life so much difficult and this decision is shameless act.
a person who does not put his father name with his name He/she is characterless.
Kya ye sb banks pdm k heen lgta to ese he hy
hum Pakistani awam bewaqof thordi hain hum bank main paisa rakhyngy he nahi. Hum ATM he block krwa dyngy. Inshallah
Chorun ka raaj hai to Bank kay mamu ka Pakistan hai
Jitny b Bank han sb k ATM eid k dino ma mostly bnd rhty han logon ko shadeed mushkil paish ati ha jitny b account holders han in say Mari request ha k ap just 1 maheny k leay apny account sy Pasay nikal dain toh bank walon ke bolti bnd ho jyegi phir yeh sav mil k 23 rupy ke jaga 10 rupy py a jyengy yeh sb bank ap logon k pason py chlty han please try to understand everyone
Loot maar ka bazar garam hai
Banks hamaray paison pr chaltay hain boycott ATM keep cash.inhon ne barhaya bhi eid se pehlay takay ziyada customers ko choona laga sakain
IMPORTED HUKUMAT KA AIK AUR TOHFA