State Bank of Pakistan have instructed all banks of Pakistan to make digital payments fees free since 18 of March, 2020.
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.
People can make free transfers from their banks to any other bank of any city in Pakistan, includes both branch and branchless banking account holders.
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.