IBFT is a locally and internationally acclaimed concept of transferring funds instantly from one account to another account. In Pakistan, it is done among different (1Link) member banks' customers, across the country.,
How long does it take for IBFT transfer?
Pricing of Interbank Fund Transfer (IBFT) Services It has now been decided that Banks/MFBs/EMIs shall continue to provide free of cost IBFT services to their individual customers up to, at least, a minimum aggregate sending limit of Rs. 25,000 per month per account/wallet.16-Jun-2021
What is IBFT account number?
Total Digits of Account Number: 13 or 20 Digits. Format Example: BBBBAAAAAAAAA or BBBBAAAAAAAAAAAAAAAA. BBBB = 4 Digit Branch Code, AAAAAAAAAAAAAAAA = 16 Digit Account Number.
What is IBFT charge?
Dear Client, As per PSD Circular no 2 of 2021, the IBFT charges have been revised for IBFT transactions. The charge will be of 0.1% or PKR 200 per transaction, whichever is lower, above a monthly threshold of PKR 25,000.