What is Raast By State Bank of Pakistan? How to Make Raast ID? Key Features, Uses & Benefits
Raast is the first ever instant payment system in Pakistan. State Bank of Pakistan has launched this Raast digital payment system with collaboration of commercial banks of Pakistan. Through this instant payment system you may connect your bank account with your cell number. For this purpose you will have to create your Raast ID. You can make your Raast ID on App or website of your bank. After making Raast ID receiving and sending money across the Pakistan will become very easy for you. After authenticating yourself you just need to confirm your cell number for linking it with your bank account. This cell number should be registered with your name and it should be verified by your bank. Then instantaneously your Raast ID will be created.
What is Raast By SBP? How to Create Raast ID? Features, Benefits
For receiving payments now you will not have to provide the details of your bank account, IBAN, bank name, branch code to the sender. You will have to share just your mobile number (On which you have made your Raast ID) to the sender for receiving payment in your bank account. If you want to send money to anyone even then you will need just his Raast ID (i.e cell number associated with his bank account).
This system is just like jazzcash and easypaisa platforms but it is more secure than both these instant payment methods. Generally there will be no fee in this fastest payment system of Pakistan. Now in future digital payments
Raast. Remember that for using this digital payments facility both sender and receiver mush have their Raast ID’s. You may make just one Raast ID at a time. You may attach just your one account with your phone number. There is no fee for creating your Raast ID. Both sides will be provided 24/7 free support by their concerned banks. There is no minimum transaction limit at all.
How To Create Raast ID?
For creating your Raast ID you may use three channels i.e internet banking, mobile app and branch counter. First of all sign in in mobile application or web portal of your bank. Now click on Raast ID button. Select your that bank A/C no which you want to link with your Rast ID. Now select your mobile number as your Rast ID. In the last click on link button. Now your bank account will be linked with your cell number instantly.
How To Transfer Funds Through Raast ID? Step By Step Procedure
First of all login the internet bankingbankingppp or Raast App of your bank. Search and then click on Raast Icon. Then click on funds transfer. Then choose your account from which you want to transfer money. In the next stage select Raast ID or IBAN option. Write down the Raast ID or IBAN of receiver. Now write down the amount which you want to sent. In the next stage select the purpose of payment. In the second last stage verify the account title of receiver, so that you may send money to the right person and account. In the last write down the OTP which you will receive through email or SMS. There may be slight changes in this process in case of different banks.