HBL | Personal | Digital Banking

Q. What is Raast?

Raast is Pakistan’s first instant payment system that will enable end-to-end digital payments among individuals, businesses and government entities instantaneously. The state-of-the-art Pakistan’s Faster Payment System will be used to settle small-value retail payments in real time while at the same time provide a cheap and universal access to all players in the financial industry including banks and fintechs.

For more information, visit:https://www.sbp.org.pk/dfs/Raast.html

Q. What is Raast ID?

It’s a simple identifier (currently mobile number) that you link with your bank account, through this Raast ID you can start receiving funds in your linked account.

Q. How is Raast different from IBFT?

In IBFT, you require bank account number for sending and receiving payments, whereas through RAAST you can send and receive money from anywhere across Pakistan on your registered Raast ID