Everyday tech · Money
Raast: how to send money instantly, and for free
Raast is the State Bank of Pakistan's instant payment system. It moves money between accounts in seconds, and banks aren't allowed to charge you for it. Here's how to set it up and use it safely.
In short
- Raast transfers between people are free and normally arrive within seconds.
- Your mobile number can become your Raast ID, so people can pay you without your account number.
- Always check the account name your app shows before you confirm a payment.
What Raast is
Raast is owned by the State Bank of Pakistan and run by its subsidiary, Raast Payments Pakistan. It launched in January 2021 for bulk payments such as salaries and dividends, and person-to-person transfers followed in February 2022.
The State Bank told banks not to charge customers for Raast transfers, and the receiving bank must credit the money within 20 seconds of getting the payment instruction. Raast works across banks and many microfinance banks, so you can send money from one bank's app to an account at another.
Raast can also be used in shops: scan a Raast QR code at the counter and pay straight from your bank account. According to the Finance Ministry, about 1.7 million merchants were using Raast QR payments in 2026.
Set up your Raast ID
A Raast ID is your mobile number, linked to one of your bank accounts. Anyone can then pay you just by entering your number.
- Open your bank's mobile app or internet banking and look for Raast or Raast ID management.
- Choose the account you want payments to go into.
- Create the ID. Your mobile number becomes your Raast ID.
Each person can have only one Raast ID, linked to one account at a time. To switch banks, de-link it from the old account first, then link it in the new bank's app. You can also set it up at a branch. Raast is for individual accounts, not foreign currency or company accounts.
Send money
- In your bank's app, choose Send money, then Raast.
- Enter the person's Raast ID (their mobile number) or their IBAN.
- Check the account name the app shows. If it isn't the person you expect, stop.
- Enter the amount and confirm with your one-time code or PIN.
You don't need a Raast ID to send money. Sending to an IBAN works too.
Limits
The State Bank requires banks to allow at least Rs200,000 per transaction, and banks can allow more depending on the customer. Some account types, such as branchless banking accounts, have lower limits. Daily limits vary by bank, so check your own in your bank's app.
Stay safe
- Raast payments are instant, so treat them like handing over cash. Getting money back from the wrong person can be difficult.
- Nobody needs your one-time code, PIN or app password to send you money. Anyone who asks for them is attempting fraud.
- Don't trust a "payment sent" screenshot or text message. Check your balance in your bank's app before handing over goods.
- For a problem with a payment, call your bank's helpline first. If your bank doesn't resolve it, you can complain to the State Bank.