State Bank Introduces Two-Hour “Cooling Time” for Mobile Banking Transactions

Karachi:The **State Bank of Pakistan (SBP)** has implemented a **new security mechanism** for all mobile banking services, including **Easypaisa, JazzCash, and other digital wallets**, aimed at curbing digital fraud and erroneous transactions.
Under the new policy, **funds received in any mobile account will not be immediately accessible**. Users will be unable to withdraw or spend the transferred amount for a period of **two hours**, referred to as the **“cooling time.”**

According to the SBP, this initiative is designed to **prevent fraudulent activities, mistaken transfers, and fake transactions**. If a user accidentally sends money to the wrong account, they will now have **two hours to report the issue** and request that the transaction be blocked or reversed.
Financial experts have welcomed the move, saying the system will **enhance the safety of digital payments** and **boost public confidence** in mobile banking. They added that with this mechanism, Pakistan’s rapidly expanding digital finance sector will become **more secure, transparent, and consumer-friendly**.