Inter Bank Fund Transfer (1IBFT)

Inter Bank Fund Transfer (1IBFT)

Bringing more convenience to the end customers, 1LINK enables the member banks to offer ‘Inter Bank Funds Transfer’. 1LINK is the first entity in Pakistan to launch “1IBFT” – Inter Bank Funds Transfer, a 24/7 real-time service that ensures online transaction processing instantly across different banks.

1IBFT eliminates the lag in the inter-bank funds transfer, bringing down the associated cost of transaction. Customer is saved from the nuisance of writing cheques, awaiting cheque clearance or making Pay Orders. 1IBFT can be performed via any alternate delivery channel, including ATM, call center, website or mobile phone app. Today, 1IBFT has become imperative to keep up with the dynamic business landscape and the fast-paced customer lifestyles.

1IBFT via 1LINK provides the following benefits to its customers:

• Fund transfer to 1IBFT participating banks
• Real-time, instant fund transfer
• Transfer of up to PKR. 1,000,000 per day
• Available on all alternate delivery channels e.g. ATM, internet, call center, mobile

1IBFT diversifies into the following categories:

• Customer to Customer(C 2 C)
• Customer to Business (C 2 B)
• Business to Customer (B 2 C)
• Business to Business (B 2 B)
• Government to Customer (G 2 C)
• Customer to Government (C 2 G)
• Government to Person (G 2 P)
• Person to Government (P 2 G)