ACCORDING to the stated policy of the State Bank of Pakistan (SBP), there should be no deductions on balance inquiries made through ATMs. All the banks had been advised accordingly to discontinue the practice of making deductions on such inquiries, and to ensure compliance with SBP instructions under the relevant provisions of the Banking Companies Ordinance, 1962.

A few days ago, when I checked my balance in my account, a transaction fee was deducted. I rechecked it, and there was another deduction. It is quite obvious that banks are not following the rules and regulations set by the SBP. And, I am sure, it cannot be about one bank or the other doing so on its own.

Therefore, action must be taken against banks by the SBP to ensure that no such deductions are made in the future.

Nimra Firdous
Lahore

Published in Dawn, March 28th, 2021