Despite strict warning from the State Bank of Pakistan (SBP) commercial banks failed to keep their automated teller machines (ATMs) functional on the eve of Eid-ul-Fitr, which caused severe problem for the bank customers on Tuesday evening. On various locations, including Mall Road, Shadman Market, Liberty Market, Model Town Bank Square, Iqbal Town and Akbar Chowk, bank customers were seen standing in queues to withdraw money from ATMs. Customers were seen complaining that they had to visit a number of ATMs to get their money withdrawn but most ATMs in the provincial metropolis had run out of cash in the evening. A bank customer, Muhammad Ashraf, standing outside an ATM kiosk at Model Town Bank Square said that he had been trying to withdraw money for almost an hour and had visited three ATMs on Peco Road.
“It seems that bank officials have forgotten to fill cash in ATMs”, he added. Another customer, Rashid Aziz, said that though banks had adopted modern technology and new modes of banking but still the country lags far behind in comparison with other financial institutions of the world. He said every year customers had to face similar problems during eid festivities but neither the financial regulator nor commercial banks were trying to address the problem. He said in Pakistan, banks were charging exorbitantly high service charges, but the service levels in most banks were pathetic. He pointed out that it was the second ATM he was trying to access to withdraw cash.
Speaking to Pakistan Today, a bank official who is dealing with ATM operations said that ATM transactions during Eid or holiday season increases manifold, which makes it difficult for bank officials to keep their machines up all the time. He disclosed that he had instructions to fill cash in ATMs twice a day, even during holidays but customers still had to face problems as the machines run out of cash in a few hours. Giving tip to the customers, he indicated that customers should access ATMs around 10:00 am in the morning or 04:00 pm in the afternoon as most banks restock their machines during these hours. He suggested that customers should try to access ATMs in those markets or areas where two three different banks’ ATMs were installed. It would help in avoiding travelling from one ATM to another in case ATM was out of cash, he maintained. According to the central bank spokesman, all banks had been instructed to put extra effort to keep their ATMs functional during Eid holidays. He said that the SBP had warned commercial banks to ensure round the clock ATM service to avoid stern action and heavy penalties. In addition, the SBP had set up special inspection teams, which would monitor the ATM network of commercials banks to ensure trouble free operations during Eid holidays.
