THIS refers to several letters in these columns on banking experiences. These days almost all commercial banks are pestering their account-holders with suggestions to shift to mobile or digital banking. Banks seem to be in a mad race to bring their customers into the digital banking network without developing an error-free and efficient digital banking infrastructure.
On top of that, the State Bank of Pakistan (SBP) seems to have no control and is not keeping a watch on the working of commercial banks. I am experiencing a permanent irritant. Whenever I use ATM facility of the ‘oldest and largest bank of Pakistan’, it debits my account with an additional amount of Rs2.50 mentioned on the withdrawal receipt as ‘receipt charges’.
In other words, this bank charges Rs2.50 if I withdraw a certain amount of my own savings kept with that bank. Instead of providing such services free of charge like in other countries, commercial banks here provide services, such as free transfer of funds, free mini statement, free draft etc., by charging an amount. The SBP should take note of such fleecing of account holders in Pakistan.
Abid Mahmud Ansari
Published in Dawn, May 4th, 2021