- Real Time Gross Settlement (RTGS) (2009)
Initially banks were using PRISM (RTGS) to transfer and settle inter-bank transactions. In 2009, RTGS also started other bank home remittance payments through this facility. This has enabled banks to transfer inter-bank transactions into beneficiaries’ accounts on the same day.
- Inter Bank Fund Transfer (IBFT) (2012)
Apart from RTGS, through ATM Switch, instant A/C credit facility is also available for beneficiaries through Inter Bank Fund Transfer (IBFT).IBFT Inter Bank Fund Transfer. Now the turnaround time for account credit has considerably reduced to maximum 30 minutes provided correct beneficiary account number (IBAN) is mentioned in the payment instructions.
- Cash Over the Counter (COC) (2009)
PRI facilitated banks to introduce cash over the counter (COC) payments of Home Remittances being a popular mode of collecting remittances in Pakistan. All major banks have already started COC payments for remittances. This is an instant service introduced by PRI and has a great impact in competing with informal channels.
- Innovative Remittance Products
- Special NRP accounts (2011)
- Pardes Card (2011)
- Internet Based Remittances
Note: For more details, you are requested to call PRI call center (+9221 111-727-774). Our call center agents will further guide you.