Digital Payments

UBL Raast & IBFT

Part of PakFinHub's UBL coverage — see the full bank overview.

• Free via Raast
• SBP National Payment System

Written & reviewed by Dildar Hussain — 10+ years in Pakistani banking, BS Banking & Finance (NUML University) · Last Verified: 2026-09-02

Raast is Pakistan's national instant payment system, built and owned by the State Bank of Pakistan — not a UBL product. UBL is one of the participating banks and offers Raast transfers through the UBL Digital App and UBL Netbanking, letting customers send and receive money using just a mobile number instead of a full account number.

Raast vs. IBFT — What's the Difference

How to Send Money via Raast on UBL

Register your Raast ID through the UBL Digital App or UBL Netbanking — once registered, your mobile number itself becomes usable as your account identifier. After registration, you (or anyone sending you money) can transfer funds to that mobile number instead of a full account or IBAN, and the transfer settles instantly.

UBL IBFT & Raast Charges

Confirmed from UBL's official Schedule of Bank Charges, July–December 2026 (ubldigital.com). Charges are inclusive of Sales Tax/FED where noted in the official schedule. Limits and charges are reviewed periodically — verify against the current Schedule of Charges before relying on these figures for a large transfer.

Is There a Raast Transaction Limit?

SBP removed its own hard transaction cap on Raast P2P payments in 2022, but that doesn't mean transfers are unlimited in practice — individual banks still set their own Raast limits based on each customer's risk profile, with SBP requiring that limit be no lower than Rs 200,000 per transaction (or the bank's own IBFT limit, whichever is higher). Other banks publish this explicitly — MCB, for instance, states a Rs 500,000 per-day Raast limit. UBL doesn't currently publish a single fixed figure on its own Raast page, so your actual limit is account- and risk-profile-specific — check the limit shown in your UBL Digital App or Netbanking directly rather than assuming a number, especially before a large transfer.

SBP's Raast limit framework confirmed from SBP's DI&SD Circular No. 1 of 2022 and its March 2022 circular removing the system-wide cap, cross-referenced against another bank's published Raast limit as an example of how this is typically disclosed. UBL-specific limit not independently confirmed here, since UBL's own page doesn't publish one — check your app for your actual figure.

What To Do If a Transfer Fails

If a Raast or IBFT transfer doesn't reflect in the receiving account, first check the transaction status in the UBL Digital App or Netbanking history — most instant transfers settle within seconds, so a status still marked pending after several minutes is worth following up on. If the amount was debited from your account but never credited to the beneficiary, raise it through UBL's Helpline & Complaints channel with your transaction reference number, rather than attempting to resend the same amount.

FAQs

Good For

• Sending money instantly and for free using just a mobile number
• Understanding when IBFT charges actually apply
• Knowing which channel (Raast vs. branch IBFT) is cheapest for your transfer
• Troubleshooting a stuck or failed transfer
• Knowing Raast transfers aren't actually unlimited despite having no SBP-wide cap

Similar Banks

HBL

HBL

Pakistan's largest bank by assets

UBL Bank Profile

One-page quick reference

EZP

Easypaisa Bank

Leading digital/branchless bank

More on UBL

Raast is owned and operated by the State Bank of Pakistan, not by UBL.