JazzCash, a leading mobile wallet and micro banking services provider in Pakistan, has updated its funds transfer fee structure for June 2024. This update is crucial for the hundreds of thousands of JazzCash users who rely on the service for financial transactions and utility bill payments. Understanding the new charges is essential for efficient financial planning.
Updated Fee Structure for Deposits
JazzCash operates under a classified fee structure. Here’s a detailed breakdown of the updated charges for cash deposits:
Deposits Between Rs. 50 and Rs. 20,000:
- A 0.50% fee of the deposit amount is charged.
- For example, for a Rs. 10,000 deposit, the fee is 0.50% of Rs. 10,000, which amounts to Rs. 50.
- Additionally, a Federal Excise Duty (FED) of 16% is applied on the Rs. 50 fee, which is Rs. 8.
Deposits Above Rs. 20,000:
- A flat rate of Rs. 100 is charged.
- The FED also applies to this fee, adding to the total cost.
Users should consider these additional costs when making cash deposits through agents to avoid any surprises.
JazzCash Charges for 2024
Here’s a detailed table of the JazzCash charges for different cash deposit amounts:
| Cash Amount | Charges |
|---|---|
| 0 – 1,000 | Rs. 35 |
| 1,001 – 2,500 | Rs. 50 |
| 2,501 – 4,000 | Rs. 65 |
| 4,001 – 6,000 | Rs. 80 |
| 6,001 – 8,000 | Rs. 90 |
| 8,001 – 10,000 | Rs. 105 |
| 10,001 – 13,000 | Rs. 120 |
| 13,001 – 15,000 | Rs. 130 |
| 15,001 – 20,000 | Rs. 165 |
| 20,001 – 25,000 | Rs. 200 |
| 25,001 – 30,000 | Rs. 250 |
| 30,001 – 40,000 | Rs. 325 |
| 40,001 – 50,000 | Rs. 400 |
Interbank Transfer Charges on JazzCash Service (Mid-2024)
For those using JazzCash to transfer money from an M-Wallet to a CNIC, here are the updated charges:
| Money Transfer Amount | Charges |
|---|---|
| 0 – 1,000 | Rs. 55 |
| 1,001 – 2,500 | Rs. 110 |
| 2,501 – 4,000 | Rs. 160 |
| 4,001 – 6,000 | Rs. 215 |
| 6,001 – 8,000 | Rs. 270 |
| 8,001 – 10,000 | Rs. 320 |
| 10,001 – 13,000 | Rs. 375 |
| 13,001 – 16,000 | Rs. 430 |
| 16,001 – 20,000 | Rs. 500 |
| 20,001 – 25,000 | Rs. 650 |
Summary
JazzCash continues to be a vital financial service for many Pakistanis. With the updated fee structure in June 2024, users need to be mindful of the costs associated with their transactions to manage their finances effectively. The detailed breakdown provided will help users navigate the new charges and avoid any unexpected expenses.
