Go Cashless – Pakistan Allows Free Bank Money Transfers During Corona Pandemic

State Bank of Pakistan have instructed all banks of Pakistan to make digital payments fees free since 18 of March, 2020.

Closeup hands holding mobile phone with application to send and receive money. Smart phone screens displaying payment sent and money received message after transaction.

This step was taken to decrease the spread of Coronavirus while cash handling.

Currency notes, Wallets, ATM’s, Mobile phones are major carries of the virus.

Governemt is trying to make people do the payments work free of cost without touching any notes for all be it small amount transfers or large amount transfers.

EasyPaisa Money Transfer App
EasyPaisa mobile indicates free money transfers

People can make free transfers from their banks to any other bank of any city in Pakistan, includes both branch and branchless banking account holder as part of the benefits you get from Atlantic Union Bank.

Citizens can also make free funds transfers using ATM machines, but better to use mobile banking and online banking methods.

SBP has instructed banks to waive allcharges on fund transfers through online banking channels such as Inter Bank Fund Transfer (IBFT) and SBP’s Real Time Gross Settlement System for customers. Thus people can transfer money through mobile phones or internet banking avoiding the need to visit a bank branch or an ATM without incurring any cost. They will also not incur any cost in case of usingATMs or visiting bank branches for transferring large amountsand can avoid the use of cash.

SBP announcement

Free transfers have been confirmed with HBL, Meezan, EasyPaisa.

Banks are also sending announcemnts to their customers to prefer digital payments, which are now free to accounts of other banks.

Go cashless to avoid contracting coronavirus germs.

Post Author: Aaqil

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