Raast Payment and Raast ID: How They Work
Raast is Pakistan's instant payment system, built and run by the State Bank of Pakistan. It lets you send money from one bank account to another in seconds, free for person-to-person transfers, using either the receiver's IBAN or their Raast ID — a mobile number linked to their bank account. You use Raast inside your own bank's app; there is no separate Raast app.
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Sell on dapxop PakistanWhat does Raast payment mean?
"Raast" means direct or straight. A Raast payment moves money directly between bank accounts in real time, any time of day, including weekends. Person-to-person Raast transfers are free.
What is a Raast ID?
A Raast ID is your mobile number linked to one of your bank accounts. Once it is set up, people can send you money just by entering your mobile number, instead of a long IBAN. One mobile number can be linked to one account at a time, and you can move it to a different account later.
How to create a Raast ID
It takes a minute in your banking app:
- Open your bank's mobile app.
- Find the Raast section (often under Transfers or Settings).
- Choose to register or link a Raast ID.
- Confirm your mobile number and the account to link.
- Verify with the OTP — entered only inside your own bank's app.
Raast payment QR code
Many shops now show a Raast QR code. Scan it from your banking app to pay: with a static QR you type the amount; with a dynamic QR the amount fills in automatically. Always check the name shown before you confirm.
Raast payment limit
Limits depend on your bank and your account type, and can change. Check the transfer limits in your bank's app or with your bank.
Staying safe with Raast
Raast payments are instant and usually cannot be reversed, so:
- Check the receiver's name before confirming.
- Never share your OTP, PIN or app password with anyone.
- Be wary of "sent you money by mistake, please return it" messages — check your own account first.
- When shopping online, pay through the platform, not to a personal account a stranger sends you.
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On dapxop, if a listing asks for an advance, you pay it to dapxop, not to a stranger's personal account, and it is checked before the order goes to the seller. You can also report a problem within 48 hours of delivery.
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Frequently asked
What is Raast payment?
An instant bank-to-bank transfer through the State Bank of Pakistan's Raast system, using an IBAN or a Raast ID (mobile number).
What does Raast payment mean?
Raast means direct. A Raast payment goes directly from one bank account to another in real time.
What is a Raast ID?
Your mobile number linked to your bank account, so people can send you money using just your number.
Is there a Raast app?
No separate app is needed — you use Raast inside your bank's own mobile app.
Is Raast free?
Person-to-person Raast transfers are free.
What is the Raast payment limit?
It depends on your bank and account type. Check your bank's app for your current limit.