Home › Fees & limits › IBFT charges
Short answer Under SBP’s PSD Circular No. 02 of 2021, IBFT is free up to at least Rs25,000 a month per account or wallet; banks may set a higher free amount. Above that, the fee is at most 0.1% of the amount or Rs200, whichever is lower. Transfers within the same bank and incoming transfers are free. Raast transfers are free for customers.
At a glance
- Free allowance: at least Rs25,000 a month per account or wallet (SBP PSD Circular No. 02 of 2021 ↗ · checked 2026-09-27)
- Fee above the allowance: up to 0.1% of the amount or Rs200, whichever is lower (SBP PSD Circular No. 02 of 2021 ↗ · checked 2026-09-27)
- Same-bank and incoming transfers: free (SBP PSD Circular No. 02 of 2021 ↗ · checked 2026-09-27)
- Raast: free for end customers (SBP DI&SD Circular No. 01 of 2022 ↗ · checked 2026-09-27)
Say you have already sent Rs25,000 to other banks this month, and now you send Rs100,000 more. 0.1% of Rs100,000 is Rs100. That is lower than Rs200, so the most your bank may charge is Rs100.
If you send Rs500,000 instead, 0.1% is Rs500. Rs200 is lower, so the fee cannot be more than Rs200. Under the rule, the fee reaches the Rs200 cap on transfers of Rs200,000 and above.
The rule took effect on July 1, 2021. We found no later SBP circular changing it, and banks’ July–December 2026 schedules still repeat it.
IBFT (Inter Bank Funds Transfer) is how you send money from an account at one bank to an account at another. It runs on 1LINK, a payment switch owned by a group of banks, which launched the service in 2007. It works 24/7 through apps, internet banking, ATMs, call centres and branches. You need the recipient’s account number or IBAN.
Raast is SBP’s own instant payment system; person-to-person transfers launched in February 2022. You can send to a Raast ID (a registered mobile number) or to an IBAN.
| Bank | Digital IBFT charge | Raast | Schedule period |
|---|---|---|---|
| Meezan Bank | Free up to Rs25,000 a month; above that 0.1% or Rs200, whichever is lower | Not published in the schedule | July 1–December 31, 2026 |
| HBL | Rs1–25,000 a month free; above that up to 0.1% or Rs200 (inclusive of FED/ST) | Not published in the schedule for core accounts | July 1–December 31, 2026 |
| UBL | Free up to Rs25,000 a month; above that 0.1% or Rs200, whichever is lower (inclusive of tax/FED) | Free | July–December 2026 |
| MCB Bank | Free up to Rs25,000 a month; above that Rs200 or 0.1%, whichever is lower (inclusive of FED/tax) | Free | July–December 2026 |
| Allied Bank | Free up to Rs25,000 a month; above that 0.1% or Rs200, whichever is lower, including FED | Free | July 1–December 31, 2026 |
| Bank Alfalah | Free up to Rs25,000 a month; above that 0.1% or Rs200, whichever is lower (schedule excludes FED/sales tax) | Not verified | July 1–December 31, 2026 |
| Bank Al Habib | Free up to Rs25,000 a month; above that 0.1% or Rs200, whichever is lower | Not published in the schedule | July 1–December 31, 2026 |
| Faysal Bank | Free | Free | July 1–December 31, 2026 |
| NBP | Not verified | Not verified | July 1–December 31, 2026 |
| Standard Chartered | Not verified | Not verified | We could not retrieve its current schedule |
Source: each bank’s Schedule of Charges, linked in Sources · checked 2026-09-27
Faysal Bank’s schedule lists IBFT through internet and mobile banking, ATMs, WhatsApp and the contact centre as “Free”. Where a schedule does not publish a Raast fee, SBP’s circular still requires Raast to be free for customers.
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 transactions. 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.
Tip Raast transfers are free under SBP’s rules. If your bank or wallet app offers Raast, you can send by Raast ID or IBAN instead of IBFT.
Inter Bank Funds Transfer: sending money to an account at another bank or wallet over the 1LINK network, 24/7.
Up to at least Rs25,000 a month per account or wallet, yes. Above that, a bank may charge up to 0.1% of the amount or Rs200, whichever is lower. Some banks charge nothing: Faysal Bank’s current schedule lists digital IBFT as free.
Once the monthly free amount is used, take 0.1% of the transfer amount and compare it with Rs200. The lower figure is the most your bank may charge. On Rs50,000 that is Rs50; on Rs300,000 it is Rs200.
IBFT runs on 1LINK and is charged above the monthly free amount. Raast is SBP’s own system and is free for customers.