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Fees & limits for transfers in Pakistan: IBFT and Raast

Short answer IBFT (Inter Bank Funds Transfer) is free up to at least Rs25,000 a month per account or wallet. Above that, a bank may charge at most 0.1% of the amount or Rs200, whichever is lower. Same-bank and incoming transfers are free. Raast, SBP’s own instant payment system, is free for customers, and banks may not set a Raast limit below Rs200,000 per transaction.

At a glance

IBFT: what it costs

IBFT is how you send money from an account at one bank or wallet to another. It runs 24/7 on 1LINK, a payment switch owned by a group of banks, which launched the service in 2007.

SBP’s PSD Circular No. 02 of 2021 sets the price for individual customers. It took effect on July 1, 2021:

  • Free allowance: at least Rs25,000 a month per account or wallet. A bank may set a higher free amount.
  • Above the allowance: at most 0.1% of the amount or Rs200, whichever is lower. A bank may charge less, and SBP encourages banks to keep IBFT free.
  • Always free: transfers within the same bank and incoming IBFT.
  • Number of transfers: banks may not limit it unless there are genuine AML/CFT or fraud concerns.
  • Alerts: after every digital transaction, you should get a free SMS showing the amount and any charge.

On Rs100,000 above the free allowance, 0.1% is Rs100, so the most a bank may charge is Rs100. On Rs500,000, 0.1% is Rs500, so the cap of Rs200 applies.

We found no later SBP circular changing this rule. Banks’ July–December 2026 schedules still repeat it, and some charge nothing: Faysal Bank’s schedule lists digital IBFT as free. See IBFT charges by bank.

Raast: free, with a high minimum limit

Raast is SBP’s instant payment system. It is operated by Raast Payments Pakistan (Private) Limited, a wholly-owned SBP subsidiary. Person-to-person transfers launched in February 2022.

  • Price: under DI&SD Circular No. 01 of 2022, banks “shall not levy any charges on Raast related services”, and Raast transactions are free for end customers.
  • Addressing: you can send to a Raast ID (initially the recipient’s registered mobile number) or to an IBAN.
  • Speed: money should reach the recipient’s account within 20 seconds of the credit advice from Raast.
  • Limits: under DI&SD Circular Letter No. 02 of 2022, SBP has set no transaction limits on the Raast system since April 1, 2022. Banks may set their own, but not below Rs200,000 per transaction (or the limit for your account type), and your total Raast limit may not be lower than your IBFT limit. Your bank must tell you the limit and show what is left in its app or internet banking.

IBFT and Raast compared

IBFT Raast
Network 1LINK, owned by a group of banks SBP’s own system
Price Free up to at least Rs25,000 a month; then up to 0.1% or Rs200, whichever is lower Free for customers
Send to Account number or IBAN Raast ID (mobile number) or IBAN
Limits No amount limit in SBP’s pricing circular; banks may not limit the number of transfers except for AML/CFT or fraud concerns No SBP limit; bank limits not below Rs200,000 per transaction or your IBFT limit

Source: SBP ↗ (IBFT), SBP ↗ and SBP ↗ (Raast) · checked 2026-09-27

Wallets

JazzCash. The Mobilink Microfinance Bank schedule for July 1–September 30, 2026 lists IBFT from a JazzCash wallet as free up to Rs25,000 a month, then 0.1% of the amount or Rs200, whichever is lower. It also lists a 1LINK transaction processing fee of Rs1.55 (the minimum) on wallet IBFT. Incoming IBFT is free. JazzCash’s money-transfer page describes sending to a bank via Raast as free.

Easypaisa. We could not confirm Easypaisa’s schedule for the current quarter; the copy we retrieved covers April–June 2026. Its send-money page says “Charges apply” without giving a figure. See also Easypaisa codes.

Before you send

Check the recipient’s IBAN with our IBAN checker; it validates the format only. Bank codes are listed in SWIFT codes of Pakistani banks.

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Questions

Is IBFT free in Pakistan?

Up to at least Rs25,000 a month per account or wallet. Above that, a bank may charge up to 0.1% of the amount or Rs200, whichever is lower. Same-bank and incoming transfers are free.

Is Raast free?

Yes. SBP’s circular says banks shall not charge for Raast services and Raast transactions are free for end customers.

What is the Raast transaction limit?

SBP sets no limit on the Raast system. Your bank sets one, and it may not be below Rs200,000 per transaction (or your account type’s limit) or below your IBFT limit.

What is the difference between IBFT and Raast?

IBFT runs on 1LINK and may be charged above the monthly free amount. Raast is SBP’s own system, free for customers, and can be sent to a mobile-number Raast ID.

Related

Sources