What is Havala Paya and when is it deposited into the account?

Fund transfer through Paya system is not instant, unlike card-to-card, and according to the schedule of the central bank, it is deposited to the destination account in 4 cycles (3:45, 9:45, 12:45 and 18:45) on working days and only at 12:45 on holidays.

It must have happened to you that you want to deposit an amount to an account in another bank, but due to the high amount or lower fees, card-by-card was not a suitable option. In this situation, the "Paya" system is the easiest and most reliable banking tool; A system that many of us deal with on a daily basis, but usually our main concern is one thing: when exactly does this money go into the account?

What is the stable system and how does it work?

Paya (electronic payment system) is the main infrastructure of the country's banking network for the electronic transfer of small funds between banks. This system is completely "account-oriented" designed; That is, unlike card-by-card which is settled instantly, Paya aggregates transactions in specific time queues and transfers them in groups. This is also the reason why the permanent deposit takes some time.

What is the limit of money transfer with Paya?

If you plan to transfer money via mobile or PC, there are certain limits to control cash flow:

With the bank: the limit of each transaction is 200 million tomans (2 billion rials) and the total daily transfer limit is 300 million tomans (3 billion rials).

Internet Bank: the limit of each transaction is 200 million Tomans and the daily limit is a total of 300 million Tomans.

Fixed deposit cycle schedule

The central bank performs the stable settlement process in fixed time cycles. Knowing these cycles will help you adjust the time of sending the remittance so that the money reaches its destination faster:

Working days (Saturday to Thursday): settlement is done in 4 cycles:

Fridays and public holidays: settlement is done only in one cycle at 12:45 p.m.

A practical tip: if, for example, you register a bank transfer at 2:00 pm on a working day, your money will be processed in the fourth cycle, i.e. 18:45, and usually it will be in the destination account with a little technical time gap between banks. So if you are in a hurry, be aware of the half hour gap before each cycle!