What Raast is
Raast is Pakistan's instant payment system, built and run by the State Bank of Pakistan (SBP). It moves money directly from one bank account to another. The receiving account is credited within seconds instead of waiting for a clearing cycle.
You do not open a "Raast account". You use Raast through the mobile app, internet banking or branch of a bank or other financial institution that is connected to the system.
Raast covers several types of payment:
- Person to person. Sending money to family, friends or anyone else with a bank account.
- Person to merchant. Paying a shop or business, often by scanning a Raast QR code.
- Bulk payments. Payments from government bodies or companies, for example salaries or pensions, made into many accounts.
For an overview of other ways to pay and transfer money in Pakistan, see Payment methods.
Ready to try it on a real or demo account?
Partner link · trading carries a high risk of loss
What a Raast ID is
A Raast ID is a short alias that points to your bank account. Normally it is your mobile number. When someone sends money to your Raast ID, Raast looks up the account linked to that number and credits it.
The point of a Raast ID is that you can share your phone number instead of your full IBAN (International Bank Account Number, the long account identifier your bank gives you). You can still send to and receive by IBAN if you prefer.
Important points about Raast IDs:
- The ID is linked to an account you choose. If you want payments to go to a different account, you change the link in your bank app. Moving the link to a new bank ends the old one.
- Before you confirm a payment, the app shows the name on the receiving account. Check this name every time.
- If you change or lose your mobile number, update or remove the Raast ID link with your bank.
How to use Raast
The exact menus differ from bank to bank. The general flow is:
- Register your Raast ID. In your bank app, open the Raast section and link your mobile number to your account. Some banks do this during account setup.
- Start a transfer. Choose Raast as the transfer type. Enter the receiver's Raast ID (mobile number) or IBAN.
- Check the receiver's name. Compare the name shown with the person or business you intend to pay.
- Enter the amount and confirm. Authorise the payment with your PIN, OTP (one-time password) or biometric login.
- Keep the confirmation. The app shows a transaction reference. Save it in case you need to raise a query.
To pay a merchant, use the QR option in your bank app and scan the merchant's Raast QR code. Then confirm the amount.
Raast payments are instant and generally cannot be reversed by the sender. Treat a wrong transfer as money you may not get back without the receiver's cooperation.
Raast transfer limits and fees
Your Raast transfer limit is the maximum amount you can send per transaction or per day. Your bank applies it within the framework set by the SBP. Limits can depend on the type of account, your verification level, and whether you are using an app or a branch.
We do not quote limit amounts or fees here, because they differ by bank and can change. To find your current limit:
- Look in the limits or settings section of your bank app.
- Call your bank's official helpline, or ask at a branch.
- Check the payment systems section of the State Bank of Pakistan's official website.
If you need to send more than your limit allows, ask your bank about raising it or about another transfer method.
What Raast is not for
Raast is a domestic system for payments between accounts in Pakistan. It is not a channel for sending money abroad.
Per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)). Per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse. Leveraged forex and CFD trading can also lose money fast, whatever payment method is used. For the legal background, read Law and regulators and Regulation and Safety.
Common Raast scams to watch for:
- Callers posing as bank or SBP staff who ask for your OTP or PIN.
- Messages asking you to "verify" your Raast ID through a link.
- Sellers who insist on payment before you can check the goods or the business.
Banks do not ask for your OTP or PIN. Never share them.
More on banking and payments: Payments, tax, Islamic banking.
Frequent questions
Is Raast run by the government?
Raast was built and is operated by the State Bank of Pakistan. You access it through your own bank or financial institution.
Do I need a separate app for Raast?
No. Raast works inside the app or internet banking of a bank connected to the system.
Can I receive money without registering a Raast ID?
Yes. Someone can send to your IBAN through Raast. A Raast ID only makes it easier, because you can share your mobile number instead.
What is my Raast transfer limit?
Your bank sets it within the SBP framework. Check the limits section of your bank app or ask your bank.
Can I cancel a Raast payment?
Raast payments settle instantly and generally cannot be reversed by the sender. Contact your bank at once with the transaction reference if you made a mistake.
Can I use Raast to fund an overseas trading account?
No. Per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)).
