How To

How To Open A RAAST Account?

We will walk you about creating a RAAST Account. Raast is Pakistan’s Fast Payment Method, developed with the Bill and Melinda Gates Foundation. So, if you wonder, “How to open a RAAST account easily?” here’s your answer.

Raast is Pakistan’s first fast payment method, enabling individuals, businesses, and governmental institutions to make end-to-end payment systems in real-time. Furthermore, trying to cut Pakistan Instant Payment System would process local retail payments instantaneously.

While simultaneously providing inexpensive options to all financial sector participants, including financial institutions, microfinance banks, government agencies, and fintech.

Low banking participation, a lack of trust and understanding in digital payments, restricted compatibility, poor accessibility, and high transaction charges have all contributed to Pakistan’s daily online transactions.

Only large-value and commercial transactions can be resolved instantly under Pakistan’s Real-time data Gross Settlement System (RTGS). Raast: Pakistan’s Fast Payment Method would significantly increase the performance of digital payments transactions.

How To Open a RAAST Account?

To create a RAAST Account, you must first connect your current bank account or internet banking app to Raast.

Two methods to Open RAAST Account

There are two easy methods to open a Raast Account.

Raast Account Via Mobile Banking App

If you’re a bank account and have approved internet banking or mobile banking, your bank would add that feature to your online banking; users can connect your bank account with RAAST. Your mobile phone number will become the RAAST Account ID following the connection.

Your bank account would be your mobile phone number. In the future, you will be able to send and receive payments or transfers by providing your mobile phone number instead of your lengthy bank account details.

Raast Account Via Visting the Bank Branch

If you have a bank account but have not activated online or mobile banking. Then it would help if you went to the right local bank. Where do you keep your bank account.

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