Major Hike in Bank Transaction Taxes and Fees — How Much Will Non-Filers Now Pay on Withdrawals
*Islamabad (Qudrat Daily)* — A wave of concern and anger has spread among bank customers following the Pakistani government’s decision to impose **additional taxes on bank transactions** and the subsequent **increase in service fees by commercial banks**.
According to the latest financial measures, **non-filers will now pay a 0.8% withholding tax on cash withdrawals from banks**, while banks have also raised charges for **ATM cards, SMS alert services, and interbank ATM usage** — with *no distinction between filers and non-filers*.
Reports indicate that the **fee for using another bank’s ATM** has been significantly increased, with withdrawals of PKR 50,000 now costing up to **PKR 80 in service charges**. The **annual ATM card fee** has gone up by **PKR 700**, and the **SMS alert service fee** has jumped from **PKR 1,200 to PKR 2,000**.
Additionally, **cash withdrawals through cheques** will now be subject to withholding tax as well. Under the new rules, **non-filers withdrawing PKR 20,000** will pay up to **PKR 522 in tax**.
Banks have also **set withdrawal limits**: ordinary debit cardholders can withdraw between **PKR 25,000 and PKR 50,000 per day**, while **premium cardholders** can withdraw up to **PKR 500,000 daily**. For **foreign debit cardholders**, the limit is **USD 200 to USD 500 per day**. Withdrawals exceeding **PKR 50,000 per day** will automatically trigger a tax deduction.
For **international ATM usage**, customers will be charged either a **percentage-based fee** or a **fixed amount**, depending on the bank’s policy.
The simultaneous increase in **taxes and service charges** has reportedly led to growing disputes between bank customers and staff. Several banks have requested **OneLink management** to review and revise the new fee schedule.
Financial experts warn that such **high costs could discourage the public from using the banking system**, pushing more people toward **cash-based transactions**, which may **undermine the government’s goal of financial inclusion and documentation of the economy**.
