BISP 8171: 100 to 200 Deduction On Payment Withdrawal

BISP 8171 New Update

The Benazir Income Support Program (BISP 8171) is one of Pakistan’s largest social welfare programs that provides financial assistance to millions of deserving women and families across the country. The program recently completed the target of opening 10 million new bank accounts. This initiative is part of the government’s policy to make all BISP payments more transparent, secure and convenient. Now that consumers will go to the bank to withdraw their money, they will definitely have a question as to how many rupees will they have to pay while withdrawing money from the bank?

10 Million Bank Accounts Opened

The National Assembly Standing Committee on Poverty Alleviation was informed in a meeting that the major target of opening 10 million bank accounts for BISP consumers has been completed. These accounts are currently inactive, but as soon as the consumers receive their payments, these accounts will automatically start being activated.

The Deputy Governor of State Bank informed the committee that now BISP customers will be able to withdraw their money from any bank and their accounts will provide all the facilities like normal bank accounts. This means that customers will no longer be limited to just withdrawing money but will also be able to deposit their money and receive remittances from any part of the country.

How Much Will It Cost To Withdraw Money?

An important question that came up in the meeting was how much rupees the customers will have to pay to withdraw their money. Officials explained that BISP customers will have to pay bank charges of about Rs 100 to Rs 200 on withdrawal.

The important thing is that no agent will have any role in this entire process. Earlier, most women had to withdraw money through agents, which used to result in deductions or complaints, but now with the facility of withdrawing money directly from the bank, this problem will be eliminated to a large extent.

Challenge Of Digital Payments For Women

The Chairperson BISP admitted in the meeting that although the process of opening bank accounts has been completed, digital payments still remain a major challenge for women customers. In many areas of Pakistan, women face difficulties in connecting to the banking system and understanding digital transactions.

Currently, six major banks are working with BISP. Steps are underway to bring all banks on the One Link system so that customers can get the same facility on the same network across the country.

Prime Minister’s Target And Next Step

According to the Secretary BISP, the Prime Minister had set a target of opening one crore accounts within four months, which has now been completed. Now the next step is to fully activate the digital transactions system in the next six months so that the deserving people can get more convenience in their money transactions.

Key Points At A Glance

• Target of opening 10 million bank accounts completed
• Women will now receive assistance directly from bank accounts
• Bank charges of Rs 100 to 200 will be levied on withdrawals
• There will be no role of any agent
• Facility of depositing money and receiving remittances through accounts will also be available
• Full digital transactions expected to be launched in the next six months

FAQs – Common Questions

Question: How much rupees will be deducted on BISP withdrawals?

Answer: Customers will have to pay bank charges of Rs 100 to 200 on each transaction.

Question: Will women still receive money through agents?

Answer: No, the new system will not involve the role of any agent. Money will be withdrawn only from banks or digital channels.

Question: Can money be deposited in these accounts?

Answer: Yes, these accounts will work like normal bank accounts. There will be facilities to deposit money and receive remittances.

Question: When will digital transactions start?

Answer: The complete system of digital transactions will be activated in the next 6 months.

Conclusion

A major change is expected with the opening of new BISP bank accounts that will ensure both transparency and convenience. Customers will no longer have to be at the mercy of an agent but will be able to withdraw their money directly from the bank. Although they will have to pay Rs 100 to 200 in bank charges, in return they are providing a safe, transparent and easy system. Using digital payments for women is a challenge but the government is also taking steps in this direction. When this system is fully functional in the near future, it will not only facilitate the financial assistance of millions of families but also eliminate problems like corruption and deductions.