KARACHI – Pakistanis were left puzzled when they tried to use funds received in their branchless banking wallets, only to find they could not use it amid new two-hour “cooling period” designed to protect users from fraud.
State Bank of Pakistan (SBP) clarified that you cannot withdraw or use money shortly after the transaction. The central bank explains why digital funds received in branchless banking wallets and accounts cannot be used immediately, introducing a two-hour waiting period to protect customers from fraud.
While all digital transfers are credited instantly, withdrawals, mobile recharges, and online purchases from branchless wallets are delayed by 2 hours. Officials said this measure was introduced in mid-2023, to enhance security and reduce the risk of unauthorized transactions.
SBP explained that branchless banking accounts have simpler verification processes, making them more vulnerable to fraud. This period gives customers a crucial window to detect and report suspicious activity before funds can be withdrawn or misused.
Officials also noted that the policy has already proven effective, providing customers with added control and protection over their money.
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