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SBP’s fresh currency notes service 8877 receives overwhelming public response

SBP’s fresh currency notes service 8877 receives overwhelming public response

KARACHI: State Bank of Pakistan’s fresh currency notes service 8877 has received an overwhelming public response, a statement of the central bank said here.

It pointed out that in order to meet the public demand for fresh currency notes on the occasion of Eid ul Fitr 2017, the State Bank of Pakistan Banking Services Corporation (SBP BSC) re-launched the SMS Short Code based service (8877) for issuance of fresh currency notes on the occasion of this Ramzan as well from June 12, 2017.

The service has been made available through a network of 1002 e-branches of banks in 120 cities and 16 field offices of SBP BSC across Pakistan. This service has once again attracted overwhelming response of the general public, the statement said and informed the general public that so far around 1.6 million individuals have obtained booking code out of which around 40% have received fresh cash from the above branches against surrender of exchange value.

Given the capacity of the bank branches to handle customers, we expect that the service will reach its maximum limit of bookings in few days and further bookings will be not possible thereafter, the SBP statement pointed out.

The general public is apprised that the booking service will be closed after reaching its maximum limit, expected by end of June 20, 2017 and as such no booking code will be issued thereafter.

However the member of general public who would have obtained booking code for issuance of fresh cash shall be eligible to draw the same up to close of business on Friday the 23rd June 2017 subject to validity of the booking code.

It would be pertinent to mention that apart from this SMS service banks may continue to provide fresh notes to their customers from their branches and ATMs as sufficient quantity is being provided to them by State Bank.