Geo436.com blog: SBP issues guidelines to facilitate Watan cardholders

Geo 436 KARACHI: The State Bank of Pakistan (SBP) on Monday directed all commercial banks to ensure enhanced efforts and facilitate the Watan cardholders.

The issuance of Watan Card is an effort of the government to help victims of floods, which affected the lives of the people and incurred heavy losses to the economy.

The central bank issued special instructions to banks and ATM Switch Operators for Watan Cardholders through a circular with immediate effect.

According to the SBP circular, in case a Watan Card is captured and/or disabled by automated teller machine (ATM), the acquirer branch staff would properly assist the cardholder and facilitate him/her in lodging a complaint to the issuing bank for immediate resolution.

"The acquirer branch shall send the captured card along with the complaint lodged by the cardholder on the same day to the nearest branch of the issuer bank," the circular said.

"Accordingly, the acquirer branch staff shall advise the complainant to collect the card from the nearest issuer branch," it added.

The nearest issuer branch, after receiving the complaint along with the captured card, would conduct due verification for authenticity and afterwards return the card within two working days to the complainant. And in case of warm/disabled cards, the acquirer branch would assist the cardholder in contacting the issuing bank for reactivating the card, it said.

To assist Watan Cardholders in conducting transactions, if so requested by a cardholder, branch managers or any designated senior officer of the acquirer branch would assist the Watan Cardholder and document/log the subject event for every cardholder who requires assistance, the circular said.

The acquirer banks would deploy at least one point of sale terminal at all their branches located in the flood-affected areas to facilitate cash withdrawal on Watan Cards, it added.

The SBP also directed the banks to take all necessary steps to prevent fraudulent use of Watan Cards at their outlets.

The State Bank has issued these special instructions in view of complaints received from Watan Cardholders, after soliciting inputs from the banks.