The State Bank of Pakistan issued a clarification that digital fund transfers are processed in real time and are not subject to any two-hour delay. It said the two-hour “cooling period” applies only to the usage or cash-out of funds received into branchless banking wallets or accounts. Under the clarified approach, funds received in branchless banking wallets or accounts are credited instantly, but cash-outs, online purchases, and mobile top-ups using those received funds can only be made after the two-hour cooling period. The requirement was introduced in April 2023 because customer due diligence requirements for branchless banking accounts are relatively simpler, increasing the probability of use in fraudulent transactions, and the delay is intended to give customers time to report suspected fraud to their banks. The central bank said the cooling period has operated smoothly since introduction and has acted as a check against fraudulent transactions.
State Bank of Pakistan 2025-09-28
State Bank of Pakistan clarifies two-hour cooling period does not delay digital fund transfers and applies only to branchless banking wallet usage
The State Bank of Pakistan clarified that digital fund transfers are processed in real time, with a two-hour "cooling period" applying only to cash-outs or usage of funds in branchless banking wallets. This measure, introduced in April 2023, aims to mitigate fraud risks due to simpler customer due diligence in branchless banking. The central bank reports the cooling period has effectively checked fraudulent transactions.