KARACHI: In the light of the coronavirus pandemic, on Wednesday the State Bank of Pakistan (SBP) waived all charges on fund transfers through online banking channels in order to avoid using the currency.
The change aims at minimizing cash use to contain virus spread among bank employees and customers.
In addition, consumers use ATMs or visiting bank branches for the transfer of significant sums do not incur any costs under the guidelines provided by the SBP.
The central bank also advised the financial sector “to encourage repayments of education fees and loans immediately via internet banking or mobile devices.”
These steps aim at reducing the need to visit bank branches or ATMs and encouraging the use of digital payment services such as internet banking, cell phone banking, etc,” the SBP said in a statement.
The central bank has also urged banks to ensure the availability of all alternate distribution platforms at all times including ATMs, POS, internet banking, payment gateways, mobile banking, and customer call centers.
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31 March, 2020