Raast

Pakistan's national instant payment system, letting users transfer money between banks using just a phone number. About Raast: Raast is Pakistan's national instant payment infrastructure, developed by the State Bank of Pakistan, enabling instant, free transfers between participating banks using just a mobile number instead of full account details. Key Features: Instant Transfers: Money moves between accounts almost immediately, across participating banks. Simple Identifiers: Send money using a phone number instead of remembering long account numbers. No Transfer Fees: As a national infrastructure system, Raast transfers are typically free of charge. Wide Bank Participation: Supported by most major Pakistani banks and increasingly fintech apps. How to Get Started: Register your phone number for Raast through your bank's mobile app or with your bank directly. To send money, enter the recipient's registered phone number instead of their account number. Confirm the transfer amount and complete the transaction. Check your bank statement or app for confirmation. Important Notice: Raast requires a Pakistani bank account for registration — this isn't something short-term visitors without local banking can access directly.