SBP Removes Bank Charges on Flood Relief Donations

The State Bank of Pakistan (SBP) has announced the removal of all bank charges on donation towards the Prime Minister’s Flood Relief Fund 2022.

Flood Relief Donations, Prime Minister's Flood Relief Fund 2022 — SBP Removes Bank Charges on Flood Relief Donations

In a press release, the State Bank of Pakistan (SBP) said that customers will not be charged any kind of transactional fee on the donation to the Prime Minister’s Flood Relief Fund 2022.

“It has been decided that all issuing and acquiring banks/microfinance banks/payment schemes operating in Pakistan shall not charge any transaction related charges like Interchange Reimbursement Fee (IRF), Merchant Discount Rate (MDR), Merchant ID Fee, Scheme Fee, Inter Bank Fund Transfer (IBFT) Fee, or any other payment related fee that may be applicable on transactions made for donations / payments to Prime Minister Relief Fund 2022.” said the State Bank of Pakistan (SBP).

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