IBURAQ Electronic Payment System

IBURAQ Electronic Payment System

The IBURAQ Electronic Payment System is a central system under the supervision of the Palestine Monetary Authority, allowing customers to send and receive transfers and payments instantly through the bank’s online banking and mobile banking services. This system provides an advanced, user-friendly digital experience, saving time and effort for customers. The system has the following features: 

 Access via Internet and Mobile: The service can be used through the bank’s online banking services and mobile banking app.

• Always Available: The service is available 24/7, every day of the week.
   
• Instant Transactions: Payments are sent and received instantly and in real time.
   
• Comprehensive Payments: You can send payments to individuals who have accounts at other local banks or electronic wallets operating in Palestine.
   
• Multi-Currency: The system supports transactions in the four currencies used in Palestine: (Dinar, Dollar, Shekel, Euro). 
   
• Ease of Use: You do not need to add beneficiaries to send payments. Payments are sent directly using the IBAN number for bank accounts or the wallet number for electronic wallet owners.
   
• Account Flexibility: You can make payments from any of your bank accounts, whether it is a current or savings account. 
   
• No Limits on Receiving Transfers or Payments: There is no limit on the amount that can be received by the beneficiary's account.
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• No Transfer or Payment Fees for the Current Period: No fees are charged for transfer or payment operations during the current period. 
   
• Money Retrieval Option (Request for Recall): You can request a recall of transferred funds. 

 Financial Limits for Transfer Operations: