Electronic Funds Transfer

Electronic funds transfer (EFT) is transfer of money from one bank account to another either within same or to any other financial institution initiated through alternative delivery channels (ADCs) such as POS terminals, ATMs, mobile banking, internet banking, call center banking, branchless banking platforms, PRISM and any other channel as and when approved by SBP.
Following are the ADC channels offered by MCB Islamic Bank (MCB Islamic ) through which customer can initiate electronic funds transfer (EFT) transactions.

Electronic Funds Transfer EFT Channels

MCB Islamic Internet Banking & Mobile App
MCB Islamic ATMs
MCB Islamic Phone Banking (042-111-222-642)

Following are the card instrument types through which EFTs can be performed via MCB Islamic ATMs.

MCB Islamic Qadar Classic Debit Card
MCB Islamic Qadar Gold Debit Card
MCB Islamic PayPak Debit Card

EFT Limits on MCB Islamic ADC Channels

Following are the shared electronic fund transfer (EFT) limits on MCB Islamic ADC channels i.e. MCB Islamic Internet Banking, Mobile App and Phone Banking).

Transaction Type	EFT Transaction Limit
EFT (MCB Islamic to Self MCB Islamic Account)	PKR 1000,000
EFT (MCB Islamic to other MCB Islamic Account)	PKR 500,000
EFT (Inter Bank Funds Transfer)	PKR 500,000

Following are independent electronic fund transfer (EFT) limits via MCB Islamic ATMs only on MCB Islamic card instrument types;

Transaction Type	MCB Islamic Qadar Classic	MCB Islamic Qadar Gold	MCB Islamic PayPak Debit Card
EFT (MCB Islamic to other MCB Islamic Account)	PKR 150,000	PKR 500,000	PKR 50,000
EFT (Inter Bank Funds Transfer)	PKR 250,000	PKR 500,000	PKR 100,000

EFT Fee, Charges and Tax

Free up to PKR 25,000 per month per account
After consumption of free monthly limit i.e. PKR 25,000/-, 0.1% of transaction amount or PKR 200 (whichever is lower) will be charged for all the transactions in the prevailing month

For further details related to fee and other charges, please visit Schedule of Charges

Lost or Theft Reporting

In case of loss/theft of a payment instrument (e.g. Debit card) and credentials (e.g. Internet Banking Username & Password, ATM PIN, TPIN), please report to 24/7 MCB Islamic Phone Banking immediately on following contact numbers:

Call us on 24/7 MCB Islamic Phone Banking number: 042-111-222-642
For International Caller: (+9242) 111-222-642

EFT related Error/Dispute/Complaint reporting process

At MCB Islamic Bank Ltd. our customers are extremely important to us. We welcome your views and suggestions as we are continuously looking at the opportunities to improve our service delivery. Please get in touch with us through any of the following communication mode:

Call us on 24/7 MCB Islamic Phone Banking number: 042-111-222-642 and for international callers: (+9242) 111-222-642
Write to us at: Complaint Management Unit, Service Quality Department, 1st Floor – Plot # LM-10, Block 10-A, Gulshan-e-Iqbal, Main Rashid Minhas Road, Karachi
Email us at: [email protected]
Fax us at: (+9221) 34972150
Register online complaint via MCB Islamic Bank Website www.mcbislamicbank.com
Any MCB Islamic Bank Limited branch and submit your complaint to a bank staff.
You may also drop your complaint / suggestion in the Complaint Box available at our branches.

Please provide the following information in your communication

Your Name
Mailing address and phone number
Account Number / CNIC
Relevant documents

How long Would It Take

You will have the complaint acknowledged within 48 hours of receipt except when you lodged your complaint at MCB Islamic Phone Banking.
You will be informed of the complaint resolution within 7 to 15 working days.
In case your complaint requires further investigation, we will let you have an interim response within 10 working days.

Unsettled Complaints

We are confident to provide you a final complaint resolution within 45 days, otherwise you have the right to refer your complaint to: Banking Mohtasib Pakistan, Shaheen Complex, M.R. Kiyani Road, Karachi. For details, please call Tel: +9221-99217334-38 or visit: www.bankingmohtasib.gov.pk

Condition for Information Disclosure

The Bank respects the Account Holder’s legitimate needs of privacy and its policy is and will continue to be hold in confidence information about the Account and the Account Holder. However, in certain circumstances agrees that Bank may give out or disclose information about the Account and the Account Holder and its use to any third party in case of, amongst others, the following circumstances.

The Bank is required to do so by any court order or similar Process.
The Bank decides in its sole discretion that it should so in connection with unusual or suspicious transactions or suspected money laundering or other serious crime.
Disclosure is required by law, regulation or code of conduct or is made in response to any enquiry from a government (or any of its agencies) or regulatory body which has jurisdiction over the Bank.
The Bank is required or permitted to do so under the law or rules of any regulatory body of which it is a member or whose rules or provisions apply to the Bank.

The Bank may also disclose/provide such details to third parties where it is reasonably necessary to do so for processing the Account Holder’s dealings/transactions with them or to enable them to offer their products or services to the Account Holder.