The State Bank of Pakistan has reassured account holders that Digital transfers are processed in real time and beneficiaries receive funds in their bank accounts almost immediately. The central bank issued the clarification after social media reports raised concerns about alleged delays in digital payments.
SBP emphasised that the two-hour hold affects only branchless banking wallets and applies to the subsequent use of credited funds rather than the transfer itself. Customers with traditional bank accounts can access and use incoming funds immediately for withdrawals, online purchases or other transactions without any waiting period.
According to the central bank, the two-hour waiting period for branchless banking accounts was introduced in April 2023 as part of customer due diligence requirements. While funds are credited to branchless wallets instantly, they remain restricted for cash withdrawals, mobile top-ups and online spending until the cooling period ends to allow time for verification.
The measure was designed to give customers a window to report any unauthorised activity and to reduce the risk of fraud. SBP noted that branchless banking wallets follow simplified due diligence procedures, which can make them more exposed to fraudulent activity compared with fully verified bank accounts.
SBP officials said the two-hour cooling period has “worked smoothly and proved to be a robust check against fraudulent transactions,” helping to protect Pakistan’s rapidly expanding digital banking ecosystem as transaction volumes grow across the country.
Recent discussions in the parliamentary finance committee have also focused on rising financial fraud, and the SBP Governor has proposed further safeguards. These proposals include possible delays for very large digital payments to allow additional verification. The central bank warned that if a bank processes a transaction before any applicable waiting period and fraud is later confirmed, the bank may be required to compensate the affected customer.
The SBP’s clarification seeks to balance seamless digital payments with consumer protection. While digital transfers to traditional bank accounts remain immediately usable, branchless banking users are reminded that the two-hour hold continues to serve as an important security feature.
