Banks ordered to refund ATM charges

Published January 13, 2007

KARACHI, Jan 12: The State Bank of Pakistan on Friday took notice of the banking practice which does not transfer the credit to customers’ accounts in case of failed transactions through ATMs. In a circular issued here on Friday, the SBP said: “Banks shall refund the charges deducted on failed transactions, including partial or full cash retracts along with the amount of such failed transactions,” the SBP circular said.