Q1. What is RAAST? |
Answer: Raast is a payment gateway/financial service platform which will be used for the instant payment/transaction enhancing digitalization in banking industry.
Details & Features of RAAST Platform:
Following are the support & distinctive features of this platform:
1. Alias based payments (Using nickname or pseudo name instead of Account No or IBAN)
2. Instant Payments (Send & receive payment in near real-time (i.e. within 10-20 seconds)
3. No Transaction Costs
4. Interoperability (Usage of System Features by different participant on a single platform amongst each other)
5. Reliable & Secure |
Q2. How can i avail RAAST services? |
Answer: If you are BOP customer, you can visit the nearest BOP branch and avail services through the counter |
Q3. Which branches provide RAAST services? |
Answer: All BOP branches are authorized for offering Raast payment services. |
Q4. What are the transaction charges for RAAST services? |
Answer: None. This service is currently free |
Q5. What is the transaction processing time trough RAAST platform? |
Answer: Payments being processed through RAAST are being processed in real time. Customers can send & receive payment instantly |
Q6. Which types of transactions can I avail through the RAAST platform? |
Answer: For the time being only Person-to-Person (P2P) Inter Bank Funds Transfer (IBFT) |
Q7. What is the transaction limit through RAAST? |
Answer: There is a maximum limit of PKR 200,000 per transaction |
Q8. How many transactions are available in a day through RAAST? |
Answer: Unlimited transactions can be done through our Over-the-Counter (OTC)/branch channel |
Q9. What is a RAAST alias? |
Answer: Alias means having a nick name or an alternate name to identify anything or any detail.
In case of RAAST, customers can register their mobile number as an ‘alias’ against their BOP account details. Once your account details are registered under an alias, thereafter the customers do not need to share or remember their account number. |
Q10. How many accounts can be linked in RAAST? |
Answer: Currently, only one account can be linked to a RAAST alias. |
Q11. What is the procedure to de-link/delete a RAAST Alias? |
Answer: Customer will have to visit the nearest BOP branch and request to delink/delete their alias |