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iSave Debit Card Terms & Conditions

The following terms and conditions constitute a formal agreement between the MCB-AH and the Cardholder setting out the requisites under which the Card has been issued to the Cardholder. The Cardholder shall be bound by these Terms and Conditions by accepting and using the MCB Arif Habib PayPak Debit Card.

In these terms and Conditions:

  1. Every Unit Holder who is eligible to apply for the Card must be eighteen (18) years old or above as of the date of the application for the issuance of the card and has the legal capacity to enter into binding contracts.
  2. Usage of the Card is subject to the terms, policies and procedures that the MCB-AH may adopt or modify from time to time with prior notice to the Cardholder
  3. The Card shall not be used to overdraw the account or to obtain credit of any description or nature and shall not under any circumstances be alienated, transferred, pledged or made subject to any lien, charge or encumbrance of any nature. The MCB-AH shall not be responsible for any loss or damage arising directly or indirectly from / due to the insufficiency of funds in the Cardholder’s Account.
  4. The Card shall remain the property of the MCB-AH at all times and the MCB-AH may at its sole discretion, and without assigning any reason, cancel the Card and through notice, demand its return, and the Card holder shall return the card to the MCB-AH within the time stipulated by the MCB-AH in the notice. The MCB-AH shall not be liable for any loss suffered by the Cardholder as a result thereof. The Card may not be used by any person other than the Cardholder.
  5. The Cardholder undertakes not to divulge his/her PIN to any other person. The Cardholder shall indemnify and keep the MCB-AH indemnified and harmless from / and against all losses, damages and costs that may occur as result of the PIN divulgence. The Cardholder shall not pass the card to any other person and undertakes that he/she shall take every possible care to prevent the Card from being lost, mislaid or stolen and shall be liable for all losses and consequences resulting therefrom. The Cardholder shall notify the MCB-AH immediately if the Card is lost, mislaid or stolen and if the PIN is unwillingly divulged to a third party.
  6. The Cardholder hereby confirms that the Cardholder shall solely be responsible for conducting all activities by using the Card and the same will be deemed to have emanated from the Cardholder. The MCB-AH is authorized to act on any telephone instructions that the MCB-AH believes have been given by the Cardholder where the person giving such instructions enters his/her PIN/TPIN Number assigned to the Cardholder by the MCB-AH via secured IVR channel.
  7. The Cardholder shall at all times remain liable for all the transactions made by the use of the Card. The MCB-AH record of transaction processed by the Card shall be conclusive and binding evidence for all purposes. However, in case of any disputed transaction (s), Cardholder must report the matter in writing within 45 days of the relative Statement of Account(s) date to its relevant Branch or customer Services / Call Center. In case the claim proves to be fake after investigation, Cardholder will be charged a fee decided by the MCB-AH.
  8. The MCB-AH shall debit the Cardholder’s account with any withdrawals/transfer payments and all such payments as effected by the use of the Card along with related MCB-AH charges including taxes levied by the Federal or Provincial Government and all such entries in the account shall be conclusive and binding upon the Cardholder.
  9. The MCB-AH reserves the right to limit cash withdrawals and total purchases amount from an ATM or POS terminal during 24hrs period and to advise the Cardholder of such limits.
  10. In case a Merchant makes a refund for a Debit Card transaction, the MCB-AH will Credit the Cardholder’s Account upon receipt of cleared refund amount from the Merchant or Settlement. The MCB-AH will not be responsible for any delay in receiving such refunds.
  11. The MCB-AH shall have the right to rectify any error in the entries and reverse any erroneous entries in the account due to any bonafide mistake or malfunction of the ATM/POS. The MCB-AH record of any transaction generated electronically or otherwise shall be conclusive evidence of such transaction.
  12. In the event of an unauthorised person using the Card, the Cardholder shall inform MCB-AH of such fact not later than 24 hours after receiving a notification from MCB-AH that the Card has been used.
  13. The MCB-AH shall be entitled to alter, amend, delete or add these terms & conditions and services provided through the Card from time & time at its discretion.
  14. The Cardholder shall pay to the MCB-AH all fees and charges that the MCB-AH may impose from time to time in connection with the Card services.
  15. The MCB-AH shall not be liable to the Cardholder for any loss suffered as a result of Bank being prevented from or delayed in providing any banking or other services to the Cardholder due to strikes, industrial actions, failure of power supplies, systems or equipment or causes beyond the MCB-AH’s control. The MCB-AH shall not be liable in any manner due to any accidental death, injury or property damage that may be sustained by the Cardholder in using the Card at ATM rooms or locations, it being agreed that the Cardholder shall use the Card entirely at his/her own risk, cost and consequences. Furthermore, whenever the Card is used by the Cardholder for payment of any utility or other bills, the Cardholder shall remain solely liable for any penalty, cost or surcharge which may be levied by the utility or service provider for late payment, irrespective of whether the Cardholder provided adequate notice and proper details to the MCB-AH.
  16. In the event there is any claim for/ of charge back by the Cardholder, such Cardholder shall immediately approach MCB-AH with details of its claims. Refunds if applicable for payments taken in error by MCB-AH will only be credited back to the Account used for the original transaction, provided that documentary evidence is supplied by the Cardholder.
  17. MCB-AH is authorised to provide any information or details relating to the Cardholder or the Cardholder’s Account(s) to any third person so far as is necessary to give effect to any instructions or to comply with any order of the Court or of any competent/ statutory authority or as is required under applicable law.
  18. The Cardholder represents to MCB-AH that the Cardholder has full power to perform its obligations in accordance with these Terms and Conditions and by using the Card.
  19. If the Cardholder is emigrating and/or proceeding abroad on permanent employment or intending to become a Non Resident Pakistani must surrender the Card at a prior time and clear the entire card out standings.
  20. These terms and conditions should be read in conjunction with Account Opening Form Terms & Conditions as shall be applicable to the Account from time to time.
  21. These terms and conditions are subject to rules and regulations, circulars and directives, of the SECP (as may be applicable from time to time) and will be governed by the substantive and procedural laws of Islamic Republic of Pakistan. The courts in Pakistan will have exclusive jurisdiction.
  22. No forbearance, delay or indulgence by MCB-AH in enforcing the provision of these Terms and Conditions between MCB-AH and the Cardholder shall prejudice or restrict the rights of MCB-AH nor shall any waiver of its rights in relation to a breach of these Terms and Conditions operate as a waiver of any subsequent breach and no right, power or remedy given to or reserved to the MCB-AH under the agreement is exclusive of any other right, power or remedy available to MCB-AH and each such right, power or remedy shall be cumulative.If any provision of these Terms and Conditions is held to be ineffective, unenforceable or illegal for any reason, such decision shall not affect the validity or enforceability of any or all of the remaining provisions of these Terms and Conditions.
  23. Incase of disputed Debit Card transaction(s), Capital Gain Tax(CGT) will not be reversed
  24. Reflection of all Pay Pak Transactions in Statement of Account will be subject to completion of 1link’s settlement process i.e; Transaction + 1 Business Day
  25. Transaction Charges
    1. Balance Enquiry Charges*
    2. Cash Withdrawal Charges*
  26. Cut off time for transaction
    1. All transactions will observe official Cut Off Timing as mentioned in the offering document placed on our website:
  27. Proposed sequence of fund for withdrawal
    1. Money Market Fund
    2. Income Fund
    3. Equity based Fund

Schedule of Charges:

* Cash Withdrawal charges Rs 35/- per transaction
* Balance Inquiry charges Rs 5/- per transaction
New card charges Rs 800/- plus government applicable taxes
Annual card charges Rs 800/- plus government applicable taxes
Replacement card charges Rs 800/- plus government applicable taxes
Transaction Limit:


Cash Withdrawal Rs 50,000
POS ( Point of Sale) Rs 100,000