JazzCash, Pakistan’s largest mobile wallet, has announced a change in cash deposit price into M-wallets.
According to a notice on the JazzCash website, cash deposits between Rs. 50 and Rs. 20,000 will now be charged a cost of 0.50 percent + FED, while cash deposits beyond Rs. 20,000 will be charged a fee of Rs. 100 + FED.
A JazzCash representative told ProPakistani, “The State Bank of Pakistan (SBP) has provisioned a charge of 0.5% of the transaction amount, or PKR 100, whichever is lower, on cash deposits into M-wallets via circular dated May 12, 2023.” Customers were notified in advance via the JazzCash website, and stores were notified via SMS as well.”
Transaction charges on cash deposits are only charged at physical contact points (franchise, retailer, experience center).