ATM transaction charges levied only on obtaining printed receipts: 1Link

ATM transaction charges levied only on obtaining printed receipts: 1Link

KARACHI: 1Link Pvt Limited on Wednesday said that charges imposed on ATM transactions only on physical receipts. However, electronic information of transactions is remained free of cost.

1LINK is Pakistan’s first fully licensed PSO/PSP, largest payment and switch system, committed to administer and evolve a strong e-payment network in the country.

The 1Link in response to various queries being initiated regarding ATM transactions receipts, said that it was an optional service where banks customers were getting a choice to opt for a physical receipt charged at Rs2.50, or to get a free of cost intimation through SMS.

“This initiative is part of a ‘Go-Green’ exercise to reduce litter and lower the cost of printed receipts, which are usually discarded immediately,” it said in a statement.

In addition, sensitive customer information is left for others to peruse, it added.

“The State Bank of Pakistan (SBP) has not mandated this and has entirely left the customer to choose a charged receipt or get free electronic confirmation,” it said.

The 1Link said the guidelines governing this are:

1. Customer must be informed about charged receipt at the time of transaction.

2. Bank has registered mobile number of the customer.

3. The customer has free SMS facility.

4. Assure that an SMS is pushed to the customer’s registered mobile number with details such as transaction amount and remaining balance.

The company said that charged receipts on balance inquiry and ATM receipts have been ongoing since quite a while, and customers have full liberty to decline a receipt without incurring any extra cost.