Raast – Pakistan's Instant Payment System
Send and Receive free Payments using your Mobile Number!
Raast is Pakistan’s first instant payment service which enables secure end-to-end free of cost digital payments between individuals in real time! This state-of-the-art payment system links customer account numbers with their registered mobile phone numbers to create a unique Raast ID.
With Raast ID registration, your mobile number is now your account number.
Raast Digital Service – via MCB Live
- Step 1: Login to MCB Live.
- Step 2: Click on option 'Manage Raast ID' on homepage.
- Step 3: Customers details i.e. Raast ID Type, registered mobile number & accounts (along with corresponding IBANs) will be displayed; select the account to be tagged with the Raast ID & press create.
- Step 4: On review screen verify the details & press ‘Confirm’.
- Step 5: Enter 6-digit OTP received on registered mobile number & press ‘Confirm’.
- Step 6: Raast ID will be created and linked with the selected MCB account successfully.
- Step 1: Login to MCB Live
- Step 2: Click on ‘Transfer Funds’ in main menu
- Step 3: Select desired Raast Payee from the list
- Step 4: Enter transaction details respectively and click ‘Confirm’ upon verification.
- Step 5: Enter 6 digit OTP received on registered mobile number & press ‘Confirm’.
- Step 6: Funds will be transferred successfully
Raast Branch Service
- Step1: Visit any MCB Branch
- Step 2: Register/ Create Raast ID at counter following the steps below:
- Fill Customer Registration & RAAST ID Management Form
- Perform Biometric Verification
- Authorize transaction with OTP received on your registered mobile number.
- Step 3: Fill the Raast Funds Transfer Application Form for funds transfer transactions against debit to MCB Account.
- Step 4: Authorize transaction with OTP received on your registered mobile number
- Step 5: Branch staff will complete verification and transfer funds.
Note: Per day Transaction Limit of PKR 500,000 is applicable.