How much will it cost now to transfer funds online?

Lahore, 18th June: State Bank of Pakistan’s (SBP) deputy governor explains how much will it cost now to transfer funds online.

According to reports, State Bank of Pakistan Deputy Governor Sima Kamil clarified the central bank’s recent instructions about changes to the pricing mechanism of inter-bank fund transfers online.

She said on Friday that money will be deducted for online funds transfer and a maximum of Rs 200 will be charged for a large transaction in one month. While an online transfer of utility bills will not incur any transfer charges.

Before the pandemic, some banks used to charge Rs 100 for transfer and some up to Rs 400 which was abolished in coronavirus days.

According to Geo News, online transactions of up to Rs 25,000 per month will be free, while a transaction of Rs 10,000 more than Rs 25,000 will be charged at Rs 10.

The SBP deputy governor said that there will be no charges on online purchase transactions of up to Rs 10,000 and transaction charges will be imposed on online purchases of more than Rs 25,000 in a month.

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