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Raast is Pakistan’s first instant payment system that will enable end-to-end digital payments among individuals, businesses, and government entities seamlessly. This service is now available for individuals with bank accounts to seamlessly transfer funds to other individuals with bank accounts. |
| Raast will connect you with every bank. Raast offers a simple, fast, secure and convenient way to transfer money from one bank account to another. |
| You can start using Raast through banks that have connected on the Raast network. Please reach out to your bank to see if they are offering Raast. |
| Please see the list of current partner banks. |
| Raast ID is a simple identifier (currently mobile number) that you link with your bank account. Instead of sharing bank account numbers, you can now share your Raast ID with others and start receiving funds in your linked account. |
| Yes, you need to have an account with a bank or any other payment service provider to connect it with Raast. |
| Yes, you will need to register your Raast ID if you wish to receive payments on your Raast ID (eg. phone number). However, you do not need to register to send payments to other Raast IDs and IBANs. |
| Currently, an individual can only register one Raast ID with one linked account (regardless of the number of bank accounts or mobile numbers they may have). |
| Yes, you can de-link your Raast ID from your current bank account and can re-link this Raast ID with another bank account. For further details please contact your respective bank. |
| Please reach out to the bank used for your Raast ID registration for Raast ID modification or deletion. |
| In spirit to promote financial inclusion in Pakistan, currently there are no charges on RAAST transactions. |
| Raast is available for payments via mobile apps, internet banking, USSD and branches (please reach out to your bank to inquire about the channels that your bank is currently offering). |
| You can send payments to a registered Raast ID or an IBAN for those banks currently active on the Raast network. |
| Please reach out to your bank regarding limits on Raast transactions. |
| No, Raast is currently activated for only local transfers within Pakistan. |
| Yes, Raast offers reliable, state of the art security features to ensure payments are protected and secure. |
| Yes, successful transactions should be notified via SMS/email by your bank. |
| There is a well-defined procedure to register complaints related to Raast. Please raise any concerns/issues/queries with your bank’s existing customer support or helpline directly. |
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