In a significant step toward digital banking, the State Bank of Pakistan (SBP) has directed all banks to ensure that at least 25 percent of their branch network is equipped with Cash Deposit Machines (CDMs) by calendar year 2028. The move is part of SBP’s broader strategy to expand self-service banking and accelerate digitization.
Banks and Microfinance Banks (MFBs) have been asked to prioritize the deployment of CDMs at branches with heavy customer traffic and high cash demand. Each bank must prepare a plan to achieve the 25 percent target and submit it to SBP by November 30, 2025.
For CDM deployment, banks may either use SBP-approved cash deposit or recycling machines listed on its website or acquire new models after testing and clearance from the SBP Banking Services Corporation (BSC) Karachi under the central bank’s Currency Management Strategy.
To meet operational requirements, SBP has directed banks to:
• Provide instant credit to beneficiaries’ accounts upon cash deposits.
• Carry out biometric verification for deposits made by non-customers, while customers may use either biometric
verification or debit/credit cards.
• Resolve CDM-related disputes within three working days.
• Clearly display any transaction fees on the CDM screen before completion.
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Banks are also required to install CCTV cameras at CDM sites, keep recordings for at least 60 days (or until disputes are settled), and ensure proper lighting, customer safety, privacy, and other necessary arrangements at CDM kiosks.
