Key Features
BISP beneficiaries have long endured challenges when receiving their stipends, particularly women who have had to deal with long lines or even the potential for fraud. The new Sahulat Account aims to address these issues by moving from cash transfers to banking solutions. In essence, your money is now safer and more readily available. State Bank has established a framework that allows BISP beneficiaries to open a special ‘Sahulat Account’ in one visit to a designated bank. There is now a better process that allows everyone to get on board.
How to Get Your Sahulat Account and Payments
The process is designed to be as simple as possible.
- BISP will share your information, along with the address of a bank branch that is nearest to you.
- You will receive a text or other notification, instructing you about your visit to the branch.
- You visit the branch only once, and the bank will now open your Sahulat Account on the spot, using your CNIC card and a biometric verification (fingerprint).
- You will be given a secure PayPak debit card, which you can use to withdraw money.Now that you have your debit card, you can withdraw your cash from any bank ATM or even your bank branch. The nice thing is, the card is biometric, and you do not have to remember a complex PIN.
The Benefits: Why This Is a Big Deal
This isn’t just a new way to get cash; this is a people-centered empowerment approach and a more transparent system.
- Transparency and Security: Your money is sent directly to you; no middleman is taking a cut!
- Convenience: You will have access to your money from any ATM without having to stand in line for hours!
- Financial Inclusion: Many people will have their first official bank account, taking the first step to being included by being included in the formal financial system in Pakistan!
- No Hidden Costs: Everything is covered by BISP, you don’t have to pay anything for opening the account and your card!
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The phased roll-out will be piloted in the major provinces of Pakistan, such as Karachi and Lahore, and then beyond, to transform the social welfare payments in Pakistan into a dignified, efficient experience across the country.
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