State Bank of Pakistan has introduced a new type of bank account as the “Asaan Mobile Account”. The word “Asaan” means easy and the account holds the basic features of any usual bank account. This new Bank account type is created for people who cannot open up standard accounts in any bank in Pakistan. As we know, opening a bank account in any Bank requires proof of employment or proof of source of income. However, the Asaan Mobile Account does not require any such proof and allows anyone to open up a bank account for transactions. The account only requires a mobile number to set up.
Asaan Mobile Account (AMA) will serve as a platform for low-income individuals. Moreover, the program is undertaken by the State Bank of Pakistan as well as the Pakistan Telecommunication Authority (PTA). The account works on a branchless banking concept. In branchless banking, the account is present only digital and the flow of money travels digitally from one account to another. Various other branchless banking systems have collaborated in making this possible. State Bank claims that through AMA any person can open a bank account in any affiliated bank with only their CNIC as well as mobile number.
Moreover, State bank has issued a step-by-step guide on how to open an “Asaan Mobile Account”. These steps are such as below:
- Dial *2262# from your mobile number.
- Select “Register for Asaan Mobile Account” from the options.
- Select your preferred bank from the list of available banks.
- Provide your CNIC number without dashes.
- Provide your CNIC issuance date on your CNIC.
- Give consent & accept the terms and conditions after reading.
- Generate your secure PIN for transactions.
- Validate your secure PIN by entering the same PIN as before.
- Await confirmation of successful account activation.
The best thing about AMA is that people won’t even need the internet to conduct their transactions. They just have to dial *2262# and make their transaction. State Bank of Pakistan also announced that the basic account will offer basic services like any bank account. These services include operations such as balance inquiry, sending and receiving money, changing your PIN, account closure, account linking, mini statements, and bill payments.