1Link (PVT) Limited has now started charging Rs. 2.50 as ATM receipt printing fee to customers withdrawing money and this has resulted in a lot of confusion with many assuming that the new charges are being applied by the banks themselves.
In this regard, 1Link has issued a notification offering a clarification regarding the new ATM receipt fee of Rs. 2.50 which will be charged to customers when opting for a physical receipt during a transaction.
According to the details, the “banks’ customers are getting a choice to opt for a physical receipt charged at Rs. 2.50, or to get free of cost intimation through SMS.” reads the notification.
“This imitative is part of a “Go Green” exercise to reduce litter and lower the cost of printed receipts, which are usually discarded immediately.” the notification adds. “In addition, sensitive customer information is left for others to peruse.”
1Link confirms that the new charges have not been mandated by the State Bank of Pakistan (SBP) but rather an imitative taken by the payment processor. The notification also mentions guidelines governing the new ATM fee or charges, which are:
Customer must be informed about charged receipt at the time of transaction.
Bank has registered mobile number of the customer.
The customer has free SMS facility.
Assure that an SMS is pushed to the customer’s registered mobile number with details such as transaction and remaining balance.
It is pertinent to note that while some banks have already started implementing this new ATM receipt fee, many banks are still holding off on this and providing free-of-cost receipts.