According to Finance Ministry documents, two more banks are at the stage of pilot test (Silkbank and The Bank of Punjab) for providing branchless banking services.
Currently State Bank of Pakistan (SBP) has authorized twelve banks including United Bank Limited (UBL), Habib Bank Limited (HBL), Muslim Commercial Bank (MCB) Bank, Bank Alfalah, Meezan Bank, Askari bank, JS Bank, Dubai Islamic Bank, Mobilink Microfinance Bank (MFB), U-Microfinance Bank (MFB), Telenor Microfinance Bank (MFB) and FINCA Microfinance Bank (MFB) to provide BB services in Pakistan under various branch names.
According to the official documents, under the existing legal and regulatory framework, cellular companies cannot offer financial services to the public. As per Branchless Banking (BB) Regulations, only banks are allowed to provide BB services with prior approval of State Bank of Pakistan (SBP). However, cellular companies can collaborate with authorized banks to provide branchless banking services as agents of banks.
The service charges for BB transactions are set by the banks themselves on the basis of quality of services. However, to facilitate the uptake of BB services, SBP has advised the BB operators to provide free of cost cash-in services to the BB customers holding mobile accounts with effect from January 1, 2018.
easypaisa and jazzcash are charging 1.75% for cashin after 10 and only 05 transactions. It is good for BB market after january 2018 cashin will be free. thanksss STATE BANK PAKISTAN