Banks told to ensure round-the-clock functioning of ATMs
KARACHI, Oct 20: The State Bank of Pakistan has issued guidelines to bank managements and switch operators to address complaints of ATMs being out of cash or service.
An official handout says that the SBP has observed a rise in complaints of ATMs remaining out of cash or service, particularly on Ramazan 1, Eid holidays and long weekends.
The SBP issued following guidelines to minimise such incidents and to ensure continuous availability of ATM facility:
I: Adequate back-up arrangements should be made to ensure availability of ATM service round the clock. Disruption of service for regular maintenance should be properly planned and communicated to avoid inconvenience to ATM users. Any major breakdown, with its reasons, should be immediately reported to the SBP.
II: A maximum downtime of ATMs from 12 midnight to 8am to process Zakat deductions and closing of books of accounts on 1st Ramazan, 30th June and 31st December will be admissible.
III: Special arrangements should be made to replenish cash in ATMs on long weekends and holidays. For this purpose, extra cash cassettes to refill ATMs may be arranged to mitigate risks associated with opening of cash vaults during holidays.
IV: Comprehensive operating procedures should be put in place to timely resolve the cases of out of cash, breakdown of ATMs, systems and network.
These instructions will come into force with immediate effect. All the banks and switch operators are required to comply with the guidelines. —-Online
