What is PAI ISO Charge on Bank Statement ?

The problem with the charge description these days is that it is very difficult to find out about the transaction from the description. We encounter many such transactions daily, and you should be suspicious about every transaction on your card or account until you are sure about it. If you are unsure about such charges, our portal offers you a one-stop solution for finding out the details. Today, we will talk about one such transaction, which usually appears on the bank statement with the description PAI ISO.

What is PAI ISO on Bank Statement?

PAI ISO is most likely a legit charge. PAI stands for Payment Alliance International. Earlier, these transactions used to show up as Payment Alliance International on the account, but since 2021, it has shown up as PAI ISO on the account. For those unaware, PAI is the country’s ATM services provider. They presently manage over 100k ATMs in the country. They are not only responsible for maintenance, but they also take care of bank sponsorship and CIT servicing. The scope of PAI services is extended to ATM Portfolio owners, Retailers, ATM Operators, Financial Institutions, Independent Operators, and ISOs.

If you see the charge on your bank statement with the description PAI ISO, then you have used an ATM operated or managed by PAI. So, if you have withdrawn cash and if you see PAI ISO, then there is nothing to worry about. However, if you see this charge and if you haven’t withdrawn the cash, then this can be a problem.

What Next?

If you haven’t withdrawn the cash, then you would need to report it to the enforcement agencies and the PAI. They are reachable at [email protected], or you can also call them at 877 271 2627. They will help you recover the lost money, and they are quite efficient at it. They work continuously to ensure that the ATMs are secure and no user has to face any losses. There are some people who reported fraud with this transaction, so these contact details might prove to be helpful.

It may also appear as one of the below transaction in Your Statement