UAE Central Bank has introduced Immediate Payment Instruction (IPI) that enables customers to make an immediate payment or transfer to another bank account within the UAE in real time and without any cutoffs.
This means all outward payments will be processed 24/7 and beneficiary will receive the payments within 180 seconds from the time the account is debited. (Subject to our internal compliance review before the debit of the account)
IPI payment functionality will be offered to all clients via HBZ Web banking and HBZ Mobile App.
IPI stands for Immediate Payment Instruction that enables customers to make an immediate payment in AED to another bank account in the UAE. Your bank account will be debited immediately.
Yes, beneficiary will receive the amount within 180 seconds from the time the account is debited as per the rules defined by CB-UAE for IPI payments. However, it may depend on the receiving bank as well. Any delay in credit of funds should be followed up with the beneficiary bank.
Yes, there is a maximum limit of AED 25,000 per transaction for immediate payments Instruction. There can be multiple transfers should you wish to make greater than AED 25,000.
Yes, this service is available for all Personal and Company accounts.
Yes, this service is available from any foreign currency account, but the transaction amount for transfer of payment should be only in AED.
No, currently immediate payments are only applicable for CASA accounts. (Current/Savings)
No, IPI payments cannot be recalled. Hence it is important to ensure that the details submitted are correct.
IPI payments do not carry a value date, hence all payments are completed (accepted or returned) on real-time basis.
The Schedule of Charges for FTS will apply for IPI payments. Please visit www.habibbank.com for schedule of charges governing your relationship.
Yes, you can make payments any time and any day of the week.
During certain times, the system will be down for routine maintenance. If the downtime is scheduled, there will be a message posted under Notices section on our website. If not, please try again later or call us at 800-HABIB.