State Bank of Pakistan directs banks to ensure refilling of ATMS
'Pakistan Times' Business & Commerce Desk

KARACHI: State Bank of Pakistan, Friday directed the banks to ensure availability of ATM service round the clock and avoid/ minimise the incidents of "ATMs out of cash / Service" for convenience of the public.

According to PSD Circular, the central bank has issued guidelines for management of ATM cash and downtime, which is applicable with immediate effect and all the banks and Switch Operators are required to comply with the guidelines.

SBP stated that incidents of "ATMs out of cash/ service" are on the rise particularly during the days of Ramazan 1, Eid holidays and other long weekends.

The guidelines have been prepared with a view to minimise such incidences and to ensure continuous availability of ATM facility.

SBP has directed to make adequate back-up arrangements for this purpose. However, it maintained that disruption of service for regular maintenance should be properly planned and communicated to avoid inconvenience to card holders.

Any major breakdown, SBP directed, along with reasons thereof, should immediately be reported to Payment Systems Department of the central bank.

SBP stated that a maximum downtime of ATMs from 12.00 midnight to 8.00 a.m. to process Zakat deductions and closing of books of accounts on Ramazan 1, June 30 and December 31 would be admissible.

Special arrangements should be made to replenish cash in ATMs on long weekends and holidays, SBP directed.

For this purpose, extra cash cassettes to refill ATMs may be arranged to mitigate the risks associated with the opening of cash vaults at branches during holidays, SBP suggested.

SBP stated that comprehensive operating procedures should be put in place to timely resolve the cases of out of cash, breakdown of ATMs, Systems and Network.●