State Bank of Pakistan has clarified that Digital Transfers across Pakistan are processed in real time and beneficiaries receive funds in their accounts almost instantly. The central bank issued the notice to address social media speculation about delays, stressing that the two-hour hold applies only to subsequent use of funds in branchless banking wallets and not to the transfer itself.
The SBP reaffirmed that customers with traditional bank accounts face no restriction and can use transferred funds immediately for withdrawals, online payments or other transactions. While branchless wallets are credited instantly, the funds are subject to a two-hour cooling period before they can be used for cash withdrawals, mobile top-ups or online purchases.
The two-hour hold was introduced in April 2023 as part of customer due diligence measures for branchless banking. The SBP says this short delay gives customers time to report unauthorized activity and acts as a safeguard against fraud, noting that the measure has worked smoothly and helped reduce fraudulent transactions in the fast-growing digital payments space.
Branchless banking wallets follow simplified due diligence processes and are therefore more exposed to misuse, the central bank explained. For this reason the cooling period remains in place as a targeted security feature rather than a restriction on Digital Transfers themselves.
Recent parliamentary discussions on rising financial fraud have prompted the SBP governor to propose further protections, including possible short delays for very large digital payments to allow verification. Under the proposed framework, banks that process a transaction before a hold ends and later find confirmed fraud may be required to compensate affected customers.
The SBP’s clarification aims to balance seamless Digital Transfers with consumer protection. Traditional account holders can continue to access funds instantly, while branchless banking users are reminded that the two-hour hold is a deliberate security measure designed to protect customers and strengthen Pakistan’s digital payments ecosystem.
