How to Transfer Money from One Bank to Another in Pakistan (2026)

Transferring money between banks in Pakistan has evolved into a seamless, highly secure, and instant financial process governed by the State Bank of Pakistan (SBP). Whether you are sending money via Raast (Pakistan's Instant Payment System), 1LINK Interbank Funds Transfer (IBFT), mobile banking applications, ATMs, or traditional over-the-counter OTC branch banking, understanding the protocols, limits, fee structures, and security guidelines ensures your money reaches its destination instantly and safely.

1. Overview of Interbank Money Transfer Systems in Pakistan

Pakistan's payment ecosystem operates primarily through two major digital clearing and settlement networks authorized by the State Bank of Pakistan:

• Raast Payment System: Developed by the SBP, Raast is an instant digital payment infrastructure that enables zero-cost, real-time fund transfers using an International Bank Account Number (IBAN) or a registered Raast ID (mobile number).

• 1LINK Interbank Funds Transfer (IBFT): 1LINK is Pakistan's central switch connecting all commercial banks, microfinance banks, and Electronic Money Institutions (EMIs). IBFT facilitates 24/7 transfers across mobile apps, internet banking, and ATMs.

• Real Time Gross Settlement (RTGS / PRAL): Used for large-value institutional or high-net-worth individual transfers exceeding standard daily digital limits.

2. Standard Prerequisites for Interbank Transfers

Before initiating a fund transfer from one Pakistani bank to another (such as transferring from HBL to Meezan Bank, or UBL to Bank Alfalah), ensure you have the following information and access set up:

1. Active Digital Banking Access: A registered mobile banking application or internet banking portal with two-factor authentication (2FA) enabled.

2. Sender Account Credentials: Active debit card, PIN, or biometric verification enabled on your device.

3. Beneficiary Details:

   • Full Beneficiary Name (as registered with their bank)

   • Target Bank Name

   • 14-to-24 digit Account Number OR 24-character International Bank Account Number (IBAN)

   • Beneficiary’s Mobile Number (for instant SMS notification and Raast ID transfers)

3. Step-by-Step Methods to Transfer Funds Between Pakistani Banks

Method 1: Instant Transfer via Raast Payment System (Mobile App)

Raast is the fastest and most cost-effective method for personal online transfers in Pakistan.

1. Open your bank’s official mobile banking application (e.g., HBL Mobile, MCB Live, Meezan Digital, or Alfa).

2. Log in using your password, PIN, or biometric thumb/Face ID.

3. Navigate to the Payments / Transfers section and select Raast Payment.

4. Choose your payment identifier:

   • Raast ID: Enter the recipient’s registered mobile number.

   • IBAN: Enter the recipient’s 24-character IBAN beginning with PK.

5. Enter the transfer amount in Pakistani Rupees (PKR).

6. Verify the auto-populated beneficiary account title displayed on the confirmation screen to ensure accuracy.

7. Confirm the transaction via One-Time Password (OTP) or transaction PIN (T-PIN).

8. Save or share the digital transaction receipt generated instantly.

Method 2: 1LINK Interbank Funds Transfer (IBFT) via Internet/Mobile Banking

IBFT allows round-the-clock transfer between all 1LINK member financial institutions.

1. Log into your internet banking portal or mobile app.

2. Go to Funds Transfer > Add New Beneficiary (if sending to this recipient for the first time).

3. Select the destination bank from the drop-down list.

4. Input the recipient's Account Number or IBAN and submit. An OTP will be sent to your mobile/email to authorize beneficiary addition.

5. Once added, select the beneficiary from your saved list.

6. Input the transaction amount and purpose of payment (e.g., Family Support, Business Payment, Educational Fee).

7. Review the review screen showing the Account Title and target bank.

8. Authorize the payment using your OTP or T-PIN.

Method 3: ATM Interbank Funds Transfer (Card-Based)

If you do not have digital banking enabled, you can transfer money directly using any 1LINK-enabled ATM across Pakistan.

1. Insert your debit card (PayPak, Visa, or Mastercard) into any bank ATM and enter your 4-digit PIN.

2. Select Fund Transfer or IBFT from the main menu.

3. Select Other Bank Transfer.

4. Choose the target bank from the listed options.

5. Enter the recipient’s 14-to-24 digit Account Number or IBAN.

6. Input the transfer amount.

7. Verify the Beneficiary Name on the ATM screen before confirming.

8. Press Confirm to complete the transaction and collect your printed receipt.

Method 4: Branch-to-Branch OTC Transfer (Pay Order & Over-the-Counter)

For high-value transactions or cash-based transfers without using a personal account:

1. Visit any operational branch of your bank (or the recipient's bank for direct cash deposit).

2. Fill out an Interbank Remittance / Fund Transfer Form or Direct Deposit Slip.

3. Provide your original valid CNIC alongside recipient details (Account Title, IBAN, Bank Name, Branch Code).

4. For account-to-account transfers, request a Pay Order or Banker's Cheque made payable to the beneficiary.

5. Perform biometric authentication at the counter and receive your stamped deposit copy.                                                                              

   Security Measures and Fraud Prevention Guidelines

   To protect your funds against social engineering scams, spoofed calls, and unauthorized access, follow these security practices:

   • Always Verify Account Title: SBP mandates that target account titles are displayed before final authorization. Never proceed if the name on the screen does not match your intended recipient.

   • Beware of Fraudulent Calls: Bank staff will never call to ask for your OTP, Mobile App Password, Debit Card PIN, or CVV. Ignore calls claiming your account will be blocked unless you share credentials.

   • Keep Biometrics Updated: Ensure your biometric record with NADRA and your bank is up-to-date to prevent transaction holds.

   • Enable Transaction Alerts: Keep SMS and email notifications active on your account to detect any unauthorized transfers immediately.

Guide Information

Step-by-Step Process

1. ➤ Step 1: Open Your Bank's Official Mobile Application – Open your bank's official and updated mobile banking application. Always make sure you are using the genuine app.

2. ➤ Step 2: Log In Securely – Log in using your PIN, password, approved credentials or biometric verification. Never share your banking password or OTP with anyone.

3. ➤ Step 3: Select Funds Transfer – Look for options such as Funds Transfer, Transfer Money, Interbank Transfer, IBFT or Raast Transfer.

4. ➤ Step 4: Choose the Recipient – Select an existing beneficiary or add a new recipient to send money.

5. ➤ Step 5: Enter the Recipient's Details – Enter the recipient's IBAN or Raast ID/mobile number, depending on the transfer method.

6. ➤ Step 6: Verify Recipient Information – Carefully check the recipient's details displayed by your bank and make sure you are sending money to the correct person.

7. ➤ Step 7: Enter the Transfer Amount – Enter the amount you want to transfer and check that you have sufficient available balance.

8. ➤ Step 8: Add a Reference or Purpose – If available, enter a payment reference such as Personal Payment, Family Support, Bill Payment or Business Payment.

9. ➤ Step 9: Review the Transaction – Before confirming, carefully check the recipient details, bank information, transfer amount, payment reference and any applicable charges.

10. ➤ Step 10: Confirm the Transfer – Confirm the transaction using the verification method required by your bank.

11. ➤ Step 11: Save the Receipt – After the transfer is successful, save the Transaction ID, Screenshot or Digital Receipt for your records. This information may be useful if you need to contact your bank.