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Avoid using ATMs after dark: SBP guidelines |
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Daily Times , Wednesday, November 30, 2005
KARACHI: The State Bank of Pakistan (SBP) has asked all commercial
banks operating in Pakistan to introduce with immediate effect
Basic Banking Accounts (BBA) in order to facilitate and provide
basic banking facilities to the low-income people in Pakistan.
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BBA can be opened in any bank operating in Pakistan
with just Rs.1000 only, said a press release of SBP here on
Tuesday. |
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The State Bank said, there would be no fee for maintaining
BBA and will be non-remunerative account. No limit on minimum
balance. In cases, where balance in BBA remains ‘nil’
for a continuous six-month period, such accounts will be closed,
it said. |
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Maximum two deposit transactions and two chequing withdrawals
are allowed, free of charge, through cash/clearing per month,
it said. Unlimited, free of charge, ATM withdrawals from the
banks’ own ATMs. In case of withdrawal from BBA through
the ATM machines of other banks, the respective/other bank may
recover charges for such transactions, the State Bank said.
It said for the existing banking accounts, banks may get the
consent of all their customers whether they wish to maintain
a BBA with them or a regular full service banking account with
its accompanying terms and conditions. In case an account holder
does not give his/her consent for a BBA, his/her account will
be treated as a regular full service banking account. Statement
of account will be issued once in a year, the SBP said. staff
report |
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