In recent weeks, several banks in Pakistan have increased annual ATM and SMS alert charges, leaving customers frustrated. Many people reported that the new fees were deducted from their accounts without any advance notice.
According to reports, the annual ATM card fee has now jumped to between PKR 4,000 and PKR 20,000, depending on the type of card. At the same time, SMS alert charges have gone up by 30–40 rupees. These SMS services are meant to inform account holders of their withdrawals, deposits, or transfers. But the unexpected deductions have created anger among customers.
On social media, many users shared complaints, saying they only found out about the new deductions when checking their statements. Customers argued that banks should not apply such changes without proper communication. Several also pointed out that while SMS alerts can be helpful, they should not be the only option available.
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Banking experts suggest that banks should provide free alternatives like email alerts or mobile app notifications. These methods are not only cheaper but also widely accessible. Experts believe that giving customers a choice will improve trust and reduce dissatisfaction.
The rise in ATM and SMS alert charges comes at a time when people are already struggling with increasing living costs. Customers feel that banks, which already earn significant profits, should avoid adding extra burdens on ordinary account holders. Many critics argue that transparency in banking services is missing and that such charges are unfair.
Consumer rights activists have also urged the State Bank of Pakistan to step in and regulate hidden deductions. They demand that banks clearly inform customers before introducing any new fees and give them the freedom to opt out of paid services.
Until stronger rules are in place, experts advise customers to carefully monitor their bank statements and stay informed about service charges. The debate highlights a growing need for fair and transparent banking practices in Pakistan.
FAQs
1. How much are the new annual ATM card fees in Pakistan?
Annual ATM card charges now range between PKR 4,000 and PKR 20,000, depending on the type of card.
2. By how much have SMS alert charges increased?
Banks have raised SMS alert charges by 30–40 rupees per year.
3. Were customers informed about these deductions?
Many customers claim they were not informed in advance and only discovered deductions after checking statements.
4. Are there alternatives to SMS alerts?
Yes. Experts suggest using email alerts or mobile app notifications, which can be provided free of cost.
5. What is being done to regulate these charges?
Consumer groups are urging the State Bank of Pakistan to make rules for fair and transparent banking, ensuring customers have a choice.
