The State Bank of Pakistan (SBP) has made it clear that the transfer of all digital funds in the country is taken in real time, beneficiaries receive almost immediately funds.
This explanation came after a 2 -hour delay for all digital transfer on social media.
According to the SBP, the 2 -hour cooling period is not applying to the transfer of itself, but is only on the use or cash of the funds received in the branchless banking wallet or accounts. Although these wallets are immediately funded by funds, consumers can only withdraw cash, buy online, or upset their mobiles after a two -hour wait period.
This policy was introduced to help avoid fraud in April 2023, as branchless banking accounts have simple consumer verification requirements and they are at greater risk of misuse.
The SBP says the cooling period provides users with enough time to report any suspicious or unauthorized transactions.
The central bank added that these instructions, which have been going on for more than two years, have been effective in protecting consumers and preventing fake activity in digital banking.