All Scheduled Banks
OF BASIC BANKING ACCOUNT
AIn order to facilitate and provide basic banking facilities
to the low income people in Pakistan, it has been decided
that all commercial banks operating in Pakistan will introduce
Basic Banking Accounts (BBA) facility with the following
The minimum initial deposit will be Rs 1000.
b. Will be non-remunerative account.
c. No limit on minimum balance. In cases, where balance
in BBA remains ‘nil’ for a continuous six-month
period, such accounts will be closed.
d. No fee for maintaining BBA.
e. Maximum two deposit transactions and two chequing withdrawals
are allowed, free of charge, through cash/clearing per month.
f. 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.
g. 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
h. Statement of account will be issued once in a year.
The above features represent the minimum set of services
which the banks shall provide to their BBA customers. The
banks are, however, free to add more services, if they wish.
The banks are also free to charge, as per their existing
policy, for any service/transaction over and above the minimum
set of services of a BBA, if they wish.
All the banks are advised to introduce and publicize the
above facility and report compliance to SBP latest by February
28, 2006. Any violation of the above instructions shall
invoke penal provisions under Banking Companies Ordinance,
The above instructions will be applicable on Basic Banking
Accounts (BBA) only.