The State Bank of Pakistan confirmed that all digital fund transfers post instantly, yet cash out and spending from branchless wallets unlock only after two hours.
Clarification on real time transfers and why some funds are not usable right away
The central bank issued a formal clarification after concerns on social media.
It stated that transfers settle on a real time basis and beneficiaries see the money in their accounts immediately.
However, the two hour window applies only to funds received into branchless banking wallets or accounts.
During this period, customers cannot withdraw cash, make online purchases, or top up mobiles with the newly received amount.
Regular bank accounts remain fully accessible without this waiting time.
Cooling period introduced in April 2023 to reduce fraud risk in branchless banking
SBP explained that branchless banking often uses simpler onboarding.
That convenience can raise the risk of misuse by fraudsters. The two hour delay was added in April 2023 as part of stronger customer due diligence requirements.
The bank said this design gives customers a brief but vital chance to flag any suspicious activity before funds are moved or stolen.
It also gives providers time to act on alerts and apply protective checks.
Early evidence shows the cooling period blocks scams while SBP promises ongoing consumer safeguards
According to the statement, the cooling period has proven to be a robust safeguard since its introduction two and a half years ago.
It has helped curb unauthorised withdrawals and payment attempts that follow fraudulent transfers.
The SBP reaffirmed its commitment to secure digital finance.
It will continue to improve systems that protect users from scams while keeping payments fast and convenient.
Consumers were advised to monitor notifications closely and report any unusual transactions immediately.
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