Circulars/Notifications - Banking Policy Department  
 BPD Circular Letter No.21
June 27, 2003  

The Chief Executives/Presidents, 
All Banks,

Dear Sirs/Madam,

Branch Licensing Policy-Acceptance of cash through ATMs

 

Please refer to BPD Circular No. 36 dated  3rd  December, 2002 on the branch licencing policy

 

2.         In view of the representations received from the banks and for the ease of the accountholders, it has been decided to allow deposit/collection of cheques & cash through Automated Teller Machines (ATMs). The para 3 of the attachment to BPD Circular No. 36 dated December 03, 2002 relating to ATMs has therefore been substituted as under: -

 “3. For the installation of Automated Teller Machines (ATMs), banks shall follow the instructions given below.

 (a) While the banks are free to install Automated Teller Machines (ATMs) within branch (onsite) premises for deposit of cash/cheque(s) and withdrawal of cash, they are also allowed to install off-site ATMs for dispensation of cash only. Each banking company in this regard shall only submit a quarterly statement regarding installation of ATMs, within 7 days from the end of each quarter to Banking Policy Department. However, for the purpose of extending the facility of deposit of cash and cheque(s) in off-site ATMs, banks are required to obtain prior permission in writing from SBP in terms of the provisions of Banking Companies Ordinance, 1962. SBP will endeavour to give permission within three working days from the date of receipt of such  request(s) from the bank(s).

 (b) Before extending the facility of cash & cheque deposits through ATMs to the customers, banks must develop and put in place a well defined procedure, including resolution of disputes in this regard and forward a copy of this to SBP for information.

(c) A suggested process for cash/cheque deposits in the ATMs and its ultimate credit to the customer’s account is enclosed (Annexure-I). The banks may, however, add more steps/measures for  cash/cheque deposits to further strengthen the process.

(d) Banks shall ensure proper security at off-site ATMs to avoid any incidents of snatching, robbery, dacoity etc.”

 3.         All other instructions contained in BPD Circular No. 36 dated 3rd December, 2002 shall remain unchanged.

 4.         Please acknowledge receipt.

Encl: - as above 



Yours faithfully,
(Muhammad Kamran Shehzad)
Director

BPD Circulars/ Circular Letters issued in 2002
       
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