Why do you have to pay Rs 2.50 for an ATM receipt?

After numerous queries made by customers regarding why are they are being charged to pay Rs 2.50 for the Automated Teller Machines (ATM) transaction receipts, it was learnt that the move has been taken by 1Link, the consortium of major banks that own and operate the largest representative interbank network in Pakistan.

“In response to various queries being initiated regarding ATM transaction receipts, please note that this is an optional service by banks customers are getting a choice to opt for a physical receipt charged at PKR 2.50 or to get a free of cost information through SMS,” stated 1Link in a statement.

However, the additional charges are not to increase the company’s profitability but a move to reduce paper waste, which is quite rampant.

“This initiative is part of a ‘Go-Green’ exercise to reduce litter and lower the cost of printed proceeds which are usually discarded immediately. In addition, sensitive customer information is left for others to peruse,” stated 1Link.

It added that the State Bank of Pakistan (SBP) has not mandated this and has entirely left the customers to choose a charge receipt or get free electronic confirmation.

The statement comes after many customers alleged that banks are charging additional fees for ATM transaction receipts on the directives of SBP.

However, SBP and a number of banks quickly clarified, Habib Bank Limited (HBL), one of the largest bank in the country confirmed that the State Bank of Pakistan has not given any instructions on charging for printing of ATM receipts. “This is a “GO GREEN” initiative by 1Link to encourage customers to avoid unnecessary use of paper and keep the environment clean,” it stated.