Home › Fees & limits › IBFT vs Raast
Short answer Raast is free for customers; IBFT is free up to at least Rs25,000 a month, then up to 0.1% of the amount or Rs200, whichever is lower. Raast can be sent to a mobile-number Raast ID or an IBAN; IBFT needs an account number or IBAN. Both are real-time. Your bank sets the limit for each, but SBP says your Raast limit may not be below Rs200,000 per transaction (or your account type’s limit) or below your IBFT limit.
At a glance
- IBFT price: free up to at least Rs25,000 a month per account or wallet, then up to 0.1% or Rs200, whichever is lower (SBP PSD Circular No. 02 of 2021 ↗ · checked 2026-09-28)
- Raast price: free for end customers (SBP DI&SD Circular No. 01 of 2022 ↗ · checked 2026-09-28)
- Raast limit floor: not below Rs200,000 per transaction (or the account type’s limit), and not below the IBFT limit (SBP DI&SD Circular Letter No. 02 of 2022 ↗ · checked 2026-09-28)
| IBFT | Raast | |
|---|---|---|
| What it is | Inter Bank Funds Transfer on 1LINK, a switch owned by a group of banks; launched in 2007 | SBP’s instant payment system, run by its subsidiary Raast Payments Pakistan; P2P launched in February 2022 |
| Cost to you | Free up to at least Rs25,000 a month per account or wallet; then up to 0.1% or Rs200, whichever is lower. Same-bank and incoming transfers free | Free. Banks “shall not levy any charges on Raast related services” |
| What you need | Recipient’s account number or IBAN | Recipient’s Raast ID (mobile number) or IBAN |
| Speed | 1LINK: “real-time” | Credited within 20 seconds of the credit advice from Raast |
| Availability | 1LINK: “24/7”; on apps, internet banking, ATMs, call centres, branchless agents and branches | Banks must offer it in apps, internet banking and at branches, and keep those channels continuously available; SBP states no system hours |
| Who sets the limit | Your bank or wallet; SBP’s pricing circular sets no amount limit | Your bank or wallet; SBP has set no system limit since April 1, 2022 |
| SBP floor on the limit | None in the pricing circular | Rs200,000 per transaction (or your account type’s limit); total not below your IBFT limit |
| Number of transfers | Banks may not cap it except for AML/CFT or fraud concerns | Banks may not cap it except for genuine fraud or cyber security concerns |
| Reversal | Not covered in the SBP pricing circular | Final and irrevocable |
Source: SBP PSD Circular No. 02 of 2021 ↗, SBP DI&SD Circular No. 01 of 2022 ↗, SBP DI&SD Circular Letter No. 02 of 2022 ↗, 1LINK ↗ · checked 2026-09-28
IBFT pricing comes from SBP’s PSD Circular No. 02 of 2021, in force since July 1, 2021. The first Rs25,000 you send to other banks each month is free; a bank may make more free. After that, the fee is at most 0.1% of the amount or Rs200, whichever is lower. On a Rs100,000 transfer above the free amount, the most a bank may charge is Rs100; on Rs500,000, it is Rs200. Some banks charge nothing; see IBFT charges by bank.
Raast has no fee for customers at any amount under DI&SD Circular No. 01 of 2022.
For IBFT, SBP’s pricing circular sets no amount limit, so the limit is your bank’s. For Raast, SBP set the floors in DI&SD Circular Letter No. 02 of 2022: at least Rs200,000 per transaction, or your account type’s limit, and a total Raast limit no lower than your IBFT limit. Your app must show your Raast limit and what is left of it.
Some banks publish the two limits side by side:
| Bank | IBFT limit (internet and mobile banking) | Raast limit (internet and mobile banking) |
|---|---|---|
| Meezan Bank, Visa Silver debit card | Rs1,000,000 a day | Rs1,000,000 a day |
| Meezan Bank, Visa Gold debit card | Rs1,500,000 a day | Rs1,500,000 a day |
Source: Meezan Bank: Visa Debit Card, transaction limits ↗ · checked 2026-09-28
Raast limits published by other banks and wallets are on Raast limits and charges.
Check an IBAN’s format with our IBAN checker. Bank codes are listed in SWIFT codes of Pakistani banks.
Both work from wallets as well as banks, within the wallet’s own limits. The JazzCash schedule for July–September 2026 charges wallet IBFT on the same Rs25,000 and 0.1%-or-Rs200 formula, plus a 1LINK processing fee; JazzCash describes Raast transfers as free. NayaPay lets you choose 1LINK or Raast when sending to a bank. See Wallets.
Raast is free for customers. IBFT is free up to at least Rs25,000 a month, then costs up to 0.1% or Rs200, whichever is lower.
Both are real-time. SBP requires Raast payments to be credited within 20 seconds of the credit advice; 1LINK describes IBFT as a 24/7 real-time service.
SBP’s circular names IBAN and Raast ID. Some banks’ apps also accept an account number for Raast; HBL Mobile does, after you pick the bank.
Your bank or wallet, for both. For Raast, SBP sets floors: at least Rs200,000 per transaction (or your account type’s limit) and not below your IBFT limit.