IBURAQ Electronic Payment System

IBURAQ Electronic Payment System

The IBURAQ Electronic Payment System is a centralized system operating under the supervision of the Palestine Monetary Authority. It enables customers to send and receive transfers and payments instantly through the bank’s Internet Banking and Mobile Banking services. The system ensures a seamless and advanced digital experience, helping customers save time and effort. IBURAQ offers the following features:

• Online and Mobile Access: The service is accessible via the bank’s Internet Banking platform and Mobile Banking application.
• 24/7 Availability: The service is available around the clock, seven days a week.
• Instant Transactions: Payments and transfers are processed instantly and in real time.
• Comprehensive Payments: Customers can send payments to individuals holding accounts at other local banks or to electronic wallets operating in Palestine.
• Multi-Currency Support: Transactions can be conducted in the four currencies circulating in Palestine: Jordanian Dinar (JOD), US Dollar (USD), Israeli Shekel (ILS), and Euro (EUR).
• Ease of Use: There is no need to pre-add beneficiaries. Transfers can be made directly using the IBAN for bank accounts or the wallet number for electronic wallets.
• Account Flexibility: Payments can be made from any type of bank account, whether current or savings.
• There is no cap on incoming transfers or payments to the beneficiary’s account.
• Transfers can be completed easily using a QR code after activation on the IBURAQ platform.
• There are no charges for transfers or payment transactions during the current period.
• Customers may request a recall of transferred funds (Request for Recall).

Financial Limits for Transfer Transactions