The reason for the additional charges on ATM transactions came to light

 KARACHI:  Digital payments company OneLink has said that the purpose of collecting receipt charges from ATMs is to ensure environmental protection by discouraging paper receipts.

A statement issued by OneLink said that the collection of Rs 2.5 charges for withdrawing money from ATMs or obtaining paper receipts for details of balances is part of the "Go Green" campaign. The campaign aims to save trees by reducing the use of paper and preventing litter from spreading into the environment.

On the other hand, the move also aims to reduce the cost of printing receipts, which could lead to the disclosure of important consumer information on the receipt.

OwenLink's statement said that the method of printing receipts is not unique and consumers have the right to choose whether to receive a paper receipt or notify the balance and transaction via SMS in light of SBP guidelines. Use

According to OneLink, the SBP has not bound the banks in this regard. Under the SBP directive, the banks have the mobile numbers of the account holders on which the transaction details and balance details are provided.

In this regard, the spokesperson of the State Bank of Pakistan said that the banks are entitled to charge for their services provided they do not contradict any directive of the State Bank. All service charges collected from customers are reflected in the banks' schedule of charges which must also be communicated to the SBP.

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Meanwhile, the public and consumers say that commercial banks have started charging these charges without any prior notice to the customers. Millions of transactions are made every hour across the country, which will generate huge revenue for the banks.

Consumers demanded that the SBP stop making additional deductions and oblige banks not to impose any new charges without the approval of consumers