The State Bank of Pakistan (SBP) has clarified that no instructions were issued to banks for charging customers on balance inquiries through ATMs [Automated Teller Machines]. ------------------------------
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The clarification from the central bank comes after reports emerged that the SBP has asked the banks to deduct Rs. 2.5 on each transaction or balance inquiry through ATMs, in the wake of service charges for the slips.
“SBP has not given any instructions to deduct the amount on each balance inquiry,” the spokesperson said. However, banks are authorized to levy charges on their services as long as they do not flout regulatory instructions, he added. ------------------------------
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Messages were reportedly circulating on social media, attributed to the SBP, claiming that the central bank has issued instructions to banks to charge customers on balance inquiry through ATMs.