Withdrawing Installment Payment from Bank for Benazir Income Support Program (BISP)

The Benazir Income Support Program (BISP) is a Pakistani social welfare program that provides financial assistance to low-income families. Traditionally, BISP disbursements happened through designated payment centers or biometric ATMs. However, a pilot program has recently been introduced to allow beneficiaries to receive their installments directly into bank accounts.

This note details the process of withdrawing BISP installment payments from a bank, considering both the traditional and the new pilot program.

Important Note: As of July 4, 2024, the pilot program for bank deposits is still in its initial stages. Information on nationwide rollout and specific banks involved might not be readily available.

Traditional Method: Withdrawing from Designated Payment Centers or Biometric ATMs

  1. Confirmation of Payment: BISP typically sends SMS notifications (to the registered phone number) informing beneficiaries about the availability of their installments. You can also check the BISP website (https://bisp.gov.pk/) or contact the BISP helpline for confirmation.

  2. Required Documents: Carry your original Computerized National Identity Card (CNIC) to the designated payment center or biometric ATM.

  3. Payment Center/ATM Visit: Locate your nearest designated payment center or BISP-enabled biometric ATM. You can find a list of these locations on the BISP website or by contacting the helpline.

  4. Identification and Verification: At the payment center, present your CNIC to the designated staff member. At a biometric ATM, follow the on-screen prompts to insert or scan your CNIC.

  5. Withdrawal: Once identification is verified, you will be asked to confirm the withdrawal amount. Typically, this will be the pre-determined BISP installment amount. Double-check the amount before confirming.

  6. Cash Collection: Upon confirmation, you will receive the cash amount from the designated staff member (payment center) or dispense the cash yourself (biometric ATM).

New Pilot Program: Withdrawing from Bank Account

  1. Program Eligibility: Currently, the bank deposit option is a pilot program. Not all BISP beneficiaries are automatically enrolled. You might need to contact BISP to confirm your eligibility and enrollment status in the pilot program.

  2. Bank Account Selection: If eligible, BISP might provide you with a list of partner banks participating in the pilot program. You will then have the option to choose a bank where you would like to receive your future installments.

  3. Bank Account Activation: If you don't already have an account with the chosen bank, you might need to open a new account following the bank's standard procedures. BISP might guide you through this process.

  4. Payment Deposit: Once enrolled and your bank account is linked to BISP, future installments will be electronically deposited into your account.

  5. Withdrawal Methods: You can then withdraw the deposited amount using various methods offered by your chosen bank, such as:

    • Debit Card: If your account comes with a debit card, you can withdraw cash from ATMs displaying the bank's logo.
    • Branch Withdrawal: You can visit your bank branch and withdraw cash using your CNIC and account details.
    • Online Banking: If your bank offers online banking services, you might be able to transfer the deposited amount to another account you hold or use it for online transactions.

Important Considerations:

  • Pilot Program Status: As of July 4, 2024, the bank deposit program is still a pilot. Information on a nationwide rollout and participating banks might be limited.
  • Bank Charges: Be aware of any potential charges associated with your chosen bank account or withdrawal methods (e.g., ATM withdrawal fees, minimum balance requirements).
  • Account Security: If opting for a new bank account, ensure you understand and follow best practices for secure online banking and ATM usage.
  • Continued Communication: Stay updated on the BISP program's developments by checking their website or contacting the helpline. They might provide further information regarding the bank deposit pilot program and its expansion plans.

Conclusion:

Withdrawing BISP installments can be done through designated payment centers or biometric ATMs using the traditional method. A new pilot program is offering the option to receive installments directly into bank accounts for enrolled beneficiaries. While the traditional method remains widely used, the bank deposit program holds promise for increased convenience and security. However, staying informed about the pilot program's status and understanding the associated bank procedures are crucial for a smooth withdrawal experience.