LAHORE – In a surprising development, banks have now started to increase the transaction fee for cash withdrawals at automated teller machines (ATMs) from banks other than the account’s host bank in simpler words if you withdraw cash from an ATM from a card other than the card of the bank you are using to withdraw the cash an extra fee of Rs. 35 will be applied which was previously set at Rs. 23.44.
According to a private news outlet, commercial banks have started the practice of charging their own customers at the new rates of Rs. 35 per transaction at non-host ATMs. All commercial banks have revised their fee schedule and have increased charges for cash withdrawals through their ATMs for customers of other banks.
As usual, these charges mainly cover the 1-Link switch and also include a smaller portion from a bank that owns an ATM, which customers of other banks use for transactions.
