Frequently Asked Questions
|Group 1||Reward Points Multiplier||Group 2||Reward Points Multiplier|
|Supermarket||1X||Apparel & Clothing||1X|
|Tours & Travels||3X||Restaurants||3X|
|Airlines||4X||Hospitals & Medical||4X|
|Education & Bookstores||5X||Pharmacies||5X|
* T & C Apply
When you make a transaction at a chip-enabled terminal with your Silkbank Chip & PIN credit card, you`re in control. The process is quick and easy and your card should never leave your sight:
1. Rather than swiping your card, it will be inserted into the terminal and left there for the entire transaction. Removing the card will terminate the transaction.
2. You will follow the prompts on the screen and enter your PIN instead of verifying the transaction with your signature.
3. When the transaction is complete, you will remove your card when prompted and wait for the receipt.
If the merchant does not yet have a Chip & PIN enabled terminal, you will sign the receipt as you do today.
When you make a transaction at a contactless-enabled terminal with your Silkbank Contactless credit card, the process is quick &easy and your card should always be on your person:
1. Rather than swiping or dipping your card, you will simply need to tap it on the contactless symbol on the terminal and wait for the light to turn green.
2. If required, you may be prompted to enter your Credit Card PIN. You may enter your PIN.
3. A message on the terminal screen or a beep will indicate that the transaction is successful, and a receipt will be generated.
For transactions above a certain threshold, you may be required to enter your credit card PIN. This threshold will be defined by merchant’s acquiring bank and may be revised from time to time as per the rules and regulations of the acquiring bank and the State Bank of Pakistan.
Yes, your Silkbank Chip & PIN Contactless credit card can be used anywhere in the world where the payment brand (Visa or MasterCard) is accepted.
· At a chip-enabled terminal, you will insert your Silkbank Chip & PIN contactless credit card into a chip reader, follow the prompts and enter your PIN to complete the transaction.
· At a contactless-enabled terminal, you will tap your Silkbank Chip & PIN contactless card on the terminal, follow the prompts and enter your PIN (if required) to complete the transaction.
· If you are using Silkbank Chip & PIN credit card at a location that does not yet have a Chip & PIN enabled terminal, your transaction will be completed with your signature as you do today.
Silkbank Chip & PIN Contactless cards are powered by Verified by VISA (VBV)/Mastercard ID Check and will continue to function as per the existing practice for online and telephone transactions. Upon conducting the transaction, you will be routed to the secure Verified by VISA/Mastercard ID Check webpage where you will be asked to select options (via SMS, Email or both) related to receiving One Time Password (OTP). On selecting the desired option, you will shortly receive the unique password on your mobile phone and/or email address. You will be routed to the next screen where you will be prompted to enter the OTP and press submit button. On submission, your transaction will be processed. Please note that One Time Password (OTP) is not the same as PIN.
When a terminal is upgraded to accept a Chip & PIN and/or contactless transaction, the merchant will receive training from the terminal provider. Although the transaction process is straightforward when the terminal prompts are followed, it is a change that will take time for everyone to get used to. We also know that many merchants employ a wide variety of full and part-time staff who receives varying levels of training. Your transaction might be the first one for the server and it could take a little longer for them to complete (especially if they engage a colleague or manager for help). Your patience in these situations is appreciated.
When completing a Chip & PIN transaction, there`s no need to sign the receipt because the PIN serves as the validation. During the transition, some merchants may still ask for a signature. Even though it`s not required, we recommend that you sign the receipt to avoid any disruption. This will only be a temporary practice until all merchants become more familiar and comfortable with the new process.
You will however still be required to sign your receipt when the magnetic stripe on your card is swiped or where Chip & PIN enabled terminal is not installed.
To activate your Credit Card & generate PIN:
· Call Silkbank Phone Banking on 021-111-100-777
· Download SilkMobile App. from App Store or Play Store
· Visit any Silkbank branch
· You should also generate PIN for all supplementary cards.
· Only the basic cardholder can generate PIN for supplementary cards.
· The PINs on basic and supplementary credit cards can be same or different; however both PINs need to be generated.
· If you experience difficulties using your card, if you don’t know your PIN or if you are unsure of your PIN, call Silkbank Helpline on 021-111-100-777 to change it or have it reset.
If you`d like to change the PIN on your Silkbank credit card or if you`ve forgotten your PIN, simply call the helpline at 021-111-100-777
Yes, you can use your Chip & PIN Contactless Credit Card overseas. Please note that in a few countries, Chip & PIN / Contactless cards are not the market norm and all the Point of Sale (POS) terminals may not ask for the PIN or be able to perform contactless transactions. In such a scenario, you can continue to use your card by signing the transaction receipt.
Yes, you can use the same PIN for cash withdrawals through ATMs.
Silkbank has sent all its credit cardholders new cards with Chip & PIN technology. If you have not received your new Chip & PIN card, please contact Silkbank helpline on 021-111-100-777 for investigation and card replacement (if required).
No. You will receive your new contactless enabled card as per your normal renewal cycle or replacement request.
Note: In case of normal renewal no fee will be charged, however in case of replacement request, card replacement fee may be charged as per prevailing Scheduling of Charges.
No. There will be no additional fee / charges for either Chip & PIN or Contactless feature, however in case of card replacement request from the customer, card replacement fee may be charged as per prevailing Schedule of Charges.
You can identify if your card is
enabled for contactless transactions if it has the contactless symbol (
Silkbank`s SMS and e-alert service sends you an SMS and e-alert on your registered mobile number and registered email address every time your credit card (basic or supplementary) is charged. This will help you keep track of transactions so you know when your cards are being used. SMS & E-alerts also keeps you updated about all the latest promotions and discounts available on your card.
Secure yourself against any unforeseen events that can lead to problems for your family. Silk Protect will ensure that any outstanding balances on your credit card are paid by IGI Life/EFU Insurance in case of Permanent / Temporary Disability, Death or Permanent & Total Disability, Terminal Illness and pays an equivalent amount (Double in case of accidental death) to cardholder’s family.
The Silk Critical illness plans for Silkbank Credit cards offer a unique coverage against occurrence of any of 13 critical illnesses and provide you the financial support when you need it the most. Customers can choose from different available plans as per the desired coverage and annual premium.
|Benefits||Plan A||Plan B||Plan C|
|Critical Illness Benefits||PKR 300,000||PKR 500,000||PKR 1,000,000|
|Annual Premium||PKR 9,900||PKR 16,500||PKR 23,100|
You can call our phone banking at 021-111-100-777 anytime and can enroll for Silk Critical illness plan of your choice.
You have multiple options to pay premium for Silk Critical illness plans:
- If you pay full amount upfront at the time of enrollment, only Annual Premium amount as per desired plan will be charged without any extra charges
- If you want to avail 3 months installment plan to pay in 3 easy installments, you can avail desired plan without any extra charges.
- If you want to avail 6 months or 12 months installment plan, 1.75% per month markup will be charged on the booked desired plan amount.
You can withdraw cash from all Silkbank ATMs in Pakistan and any ATM displaying the Plus Sign (also displayed on the back of your card) anywhere in the world.
You can withdraw cash up to 50% of your credit limit. For example, if your credit limit is PKR 100,000, then your cash withdrawal limit will be PKR 50,000.
The maximum amount in a day is your withdrawal limit, which is 50% of your Credit Limit. However, there is a limit of PKR 25,000 per transaction for Silkbank ATMs and for other bank ATMs, where the per-transaction limit varies as determined by the respective banks.
You can active your Silkbank credit card conveniently by any of the following ways:
- Just call us on 021-111-100-777
- Download SilkMobile App from App store or play store
- Visit any Silkbank branch
Since Silkbank Credits are backed by Visa or Mastercard, your card is accepted at thousands of outlets in Pakistan and millions worldwide.
Your Credit Card statement will be generated every month. The due date will be specified on your statement every month, which will be 21 days after the bill statement date.
NO. There will be separate monthly billing statements for Silkbank VISA Credit Card & Silkbank Mastercard Credit Cards.
NO. There will be same billing cycle for both VISA & Mastercard Credit Cards.
Depending on your preference, your billing statement will either be sent physically through courier or you can enroll for E-statements, where billing statements will be emailed to you on your registered email address every month instead of paper statements. You can also access your latest statement on Silkbank Whatsapp Banking.
You can make payment for your credit card through following channels:
- Depositing cash over-the-counter at Silkbank or any other bank’s branch in Pakistan
- Using Silkbank Mobile banking/Internet banking
- Via ATM/ Mobile App/Internet Banking of any other bank using 1-Bill facility in Bill payment option by entering your Silkbank credit card number in the required field
- By enrolling for Auto Debit facility so the payment can be debited from your Silkbank Account automatically every month.
- By dropping the Cheque at the drop boxes of Silkbank’ s branches
If your card is lost or stolen, please report it immediately by calling Phone Banking at 021-111-100- 777 or you can use “Guard Your Card” feature in Silkbank Mobile app for immediately blocking your card temporarily. You can also block your card by using Silkbank Whatsapp Banking.
If you notice any discrepancy in your monthly statement, report the matter to our Customer Services Team on 021-111-100-777. In order to check statement entries, retain all your sales slips and printed receipts. This will help you keep a record of all your transactions.
You can simply inform us of your new mailing address by calling our 24 hour Customer Services at 021-111-100-777 and update your profile.
You can seek emergency assistance by lodging a lost/stolen card report or you can contact us as email@example.com or obtaining emergency cash from Visa/Mastercard Emergency Assistance Centers.
You can call our 24/7 Phone Banking at 021-111-100-777. You can also email us at CreditCards@silkbank.com.pk
Silkbank provides you with an opportunity to transfer your current other bank credit card balance to your Silkbank Credit Card - at a Balance Transfer Mark-up rate of 0%. All you have to do is pay the minimum amount by due date every month and enjoy the benefits of reduced rate.
0% APR Credit Card is specifically for customers who have been using credit cards for at least 2 years, maintaining a good credit history, and have outstanding balance on their respective credit cards. These cardholders can transfer their outstanding amounts for the selected time period at 0% APR to Silkbank credit card.
While Silkbank does not apply any service or interest charges on balance transfer amount for the selected time period, a balance transfer fee is charged to your card. You can pay the balance transfer fee in full or pay it over time as per your convenience.
a. Call 021-111-100-777 and ask for information regarding 0% APR Credit Card and by asking the Sales representative to guide you through the process to apply for it.
b. Visit our website www.silkbank.com.pk and apply online for Silkbank Credit Card. Our Sales representative will get in touch with you shortly.
Yes, balance transfer fee will be charged on the amount transferred to Silkbank Credit Card. Please refer to the Schedule of Charges (SOC) for details.
Yes, 0% APR Card works like a normal Credit Card for all Retail & Cash Advance Transactions.
Yes, you have a choice of paying the outstanding balance transfer amount anytime within the selected 0% APR time period.
Retail mark-up rate instead of Balance Transfer rate of 0% will be charged on the outstanding amount on completion of the selected 0% APR time period.
Retail rate for service charges instead of balance transfer rate of 0% will be charged on the outstanding amount from that month onwards.
Simply contact our Helpline at 021-111-100- 777 to get more details and initiate your request. You can also place your Limit Enhancement request on Silkbank Whatsapp Banking by Simply sending “Hi” to 0301-1177777. Once you’ve compiled all the necessary documents, they can be sent to one of our offices below:
Lahore and Faisalabad
Asset Help Desk
27 Tipu Block, New Garden Town
Main Ferozpur Road, Lahore
Karachi and Hyderabad
Asset Help Desk
Shahrah-e- Faisal, Karachi
Islamabad and Peshawar
Asset Help Desk
1 st Floor, F-7 Markaz,
Jinnah Super Market,
Near Saffa Gold Mall, Islamabad
Yes, if you meet following conditions:
Permanent Credit Limit Increase*
Temporary Credit Limit Increase*
Your income or employment has changed in the last 6 months
Temporary Limit can be enhanced after minimum of 6 Months of using Silkbank Credit Card
It has been at least 6 months since you started using your Silkbank Credit Card
Temporary Limit enhancement can be made up to maximum of
two months with maximum temporary
*The credit limit will be determined by the Bank and will be issued only after assessing eligibility details and documents thoroughly subject to credit check and approval of application
You can apply for Card Upgrade by simply calling our Helpline at 021-111-100- 777 or by visiting your nearest Asset Helpdesk. You can also place your card Upgrade request on our Silkbank Whatsapp Banking at 0301-1177777 and your request will be processed if you qualify to upgrade your card.