The central bank has decided to allow multiple credit transfers using MT 102 for the third party transfers to further enhance the payment transfer facilities through PRISM System. To have immediate effect, the facility would be subject to certain conditions that are: The lower value limit for each credit transfer in MT 102 shall be Rs 100,000, maximum 10 payment instructions are allowed to be sent through one MT 102 message. Further, the transaction time and charges for each payment instruction within a single MT 102 will be from Mondays to Fridays between 9am and 4:30pm with charges applicable to be Rs 25 per instruction. All inclusive transaction charges recovered by the banks and DFIs from their customers for each payment instruction sent using MT 102 shall not exceed Rs 50. “However, MT 103 may continue to be used for 3rd party time critical single credit transfers attracting charges as outlined in PSD circular letter No. 5 dated October 14, 2011,” said an SBP circular issued Wednesday. The bank advised all PRISM direct participants to ensure compliance with the Customer Transfer Guidelines, Payment Systems and Electronic Fund Transfers Act 2007, PRISM Operating Rules, 2009 and all other applicable SBP rules and regulations including those related to KYC and AML/CFT.