National Savings is pleased to introduce another important service to facilitate its customers: Withdrawal Slips can now be used for third party payments (utility bills, school fees and other expenses). Previously, these withdrawal slips were merely used for payments to oneself only. The significant progress was made possible with National Savings taking Membership of NIFT (National Institutional Facilitation Technologies) the Banking Clearing System having over 20 years' experience in clearing business with a strong 26 branch network covering all major cities and financial centres in the country.
National Savings remain the only Non-Banking Member of the Banking Clearing System and its 238 branches have become a part of NIFT's clearing grid and are transacting on an average 2000 cheques a day. This service of Withdrawal Slips will enable savings account of National Savings to effectively become an operational account and at par with any normal bank account. The National Savings withdrawal slip will act as a cross cheque and could be deposited in third-party account with any bank, anywhere in Pakistan for clearance through banking clearing system.-PR
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