Commercial Bank

Standard Chartered Raast & IBFT Transfers

How to register a Raast ID, send money both ways, and what SCB actually charges — with the two rails' fees and limits side by side.

Raast — Free
IBFT — PKR 1M/Day
Official Rate Card

Written & reviewed by Dildar Hussain — 10+ years in Pakistani banking, BS Banking & Finance (NUML University)

Standard Chartered Raast transfers are free on every channel — SC Mobile App, Online Banking, and over the counter. IBFT is free up to PKR 25,000 combined per month, then 0.1% or PKR 200 (whichever is lower) per transfer, with a PKR 1,000,000 daily limit.

Raast and IBFT both move money between Pakistani bank accounts, but they're not the same service, and SCB prices them differently. Raast is the State Bank of Pakistan's real-time payment rail, built around a simple ID — usually your mobile number — instead of a full account number or IBAN, and it's free on every SCB channel. IBFT is the older inter-bank transfer system that most people still mean when they say "online bank transfer," and it carries a small fee once you cross a modest monthly threshold. The figures below come from SCB's own Raast page and rate card, not estimates.

Raast vs IBFT at a Glance

Feature	Raast	IBFT
Fee	Free No Charge	Free up to PKR 25,000/month, then 0.1% or PKR 200, whichever is lower
Speed	Real-time, instant	Near-instant to same-day
Identifier needed	Raast ID (mobile number) or IBAN	Full account number or IBAN
Daily limit	Set by SBP-wide Raast policy	PKR 1,000,000
Channels	SC Mobile App, Online Banking, Branch	ATM, Online Banking, SC Mobile App

Raast fee and channel details confirmed from Standard Chartered Pakistan's official Raast page (sc.com/pk/promotions/raast). IBFT fee and limit confirmed from SCB's official ATM Services page and Help Centre, and cross-checked against SCB's published Schedule of Charges.

How To Register Your Raast ID

A Raast ID links your mobile number to your SCB account so people can send you money without needing your full IBAN. Registration takes a few minutes on any of the three channels below.

SC Mobile App

Online Banking

At a Branch

Visit any SCB branch with a written request stating your alias and IBAN, and complete biometric verification at the counter.

Steps confirmed from Standard Chartered Pakistan's official Raast page.

Sending a Raast Transfer

Once registered, sending funds via Raast follows the same basic pattern on both digital channels: open Raast Services in the SC Mobile App or Online Banking, choose Raast Transfer, enter the beneficiary's Raast ID or IBAN, enter the amount and purpose, then confirm with an OTP. A one-time transfer skips the beneficiary-saving step if you're only sending money to that person once. Branch customers can also submit a Raast transfer request on a deposit slip, noting the alias and amount, without registering a Raast ID themselves.

IBFT Fees & Limits — Official Figures

Item	Detail
Free monthly threshold	PKR 25,000
Fee above threshold	0.1% of transfer value or PKR 200, whichever is lower
Daily transfer limit	PKR 1,000,000
Limit increase request	111-002-002

Confirmed from Standard Chartered Pakistan's official ATM Services page and Help Centre. The PKR 25,000 free-transfer threshold reflects the State Bank of Pakistan's sector-wide digital transaction fee framework, effective across Pakistani banks from June 2026 — confirm the current figure directly with SCB, as these thresholds are periodically revised by SBP.

Frequently Asked

Can I still use IBFT if I have a Raast ID?

Yes — registering a Raast ID doesn't replace IBFT. You can use either rail depending on what the beneficiary's bank supports and whether you know their Raast ID or full account number.

What happens if a Raast transfer fails?

Contact SCB's phone banking on 111-002-002 with the transaction details. Failed real-time transfers are typically reversed automatically, but confirm the status if funds don't reflect within a few minutes.

Can businesses use Raast through SCB?

Raast is primarily built for individual P2P transfers. Business and bulk-payment customers should check SCB's Straight2Bank platform for the appropriate corporate payment rails.

Good For

Confirming SCB's actual IBFT fee before it surprises you on a transfer
Registering a Raast ID in a few minutes instead of guessing the steps
Understanding when Raast is genuinely free vs when IBFT charges apply

Ready to bank with Standard Chartered?

Verify current rates, offers, and terms directly with SCB Pakistan before you apply.

Visit SCB's Official Raast Page See SCB Bank Profile