PAYA Inter-bank Money Order PAYA Inter-bank Money Order

Dear customers,

Using “Electronic PAYA System”, you are able to transfer your money from your account to your account at another bank through electronic system.

Usually, this is done using “encoded check” or “Iran Check”, requiring that the said checks be physically carried to the bank of destination. In this way, travel cost between bank of origin and bank of destination will be charged on your part. Also upon waste of time, there is the risk of loss, theft and other losses of the said check as well.

The Central Bank of  Islamic Republic of Iran has implemented “Electronic Clearance System” which is an electronic money transfer from an account at one bank to the account at another bank (inter-bank).


Facilities and capacities of Electronic Clearance (PAYA):

1.Direct Credit

Direct credit refers to electronic money transfer in Inter-bank form that is issued by the bank transferring the money. Using this capacity, the corresponding amount of money will be transferred from an account at one bank to another account at other bank.

Moreover, it is possible to divide great amount of money into several subdivisions and then transfer the same into different accounts at several banks.


Applications of these services:

  • Payment of salary and pension of personnel of an organization

Usually, the organization that pays the salary by drawing checks from its bank is willing to withdraw the total amount of salary and wage of its personnel from the organization’s account to be paid to their account at the same bank.

Using “Direct Credit” method, the organization that pays the salary is able to request its bank to withdraw the total amount of salary and wage from the organization’s account and transfer the same to bank accounts of personnel at different banks.


  • Payment of interest of shares and securities:

Using “Direct credit” method for payment of dividend, the necessity for opening an account by the shareholder at the bank that pays the interest will be eliminated.

Many companies, institutions and organizations are able to make many payments every day for the corresponding business affairs (mainly through checks) to their parties.

Using “Direct credit”, these companies do not need issue a great number of checks any longer.


2.Direct Debit

These services enable the customers to make withdrawal from the account of another customer at other bank that requires prior agreement of the two sides and prior permission of customer that pays for withdrawal from his account.


Applications of these services:

  • Payment of utility bills of water, electricity and gas: You may allow Water and Wastewater, TAVANIR and Gas companies and other service organization to automatically withdraw from your account the corresponding amounts of bills up to a certain maximum.of course this will allow you to confirm or reject the case prior to withdrawal.
  • Payment of monthly rent: The lessee may allow his bank to make withdrawal of monthly rental fee from his account. Hence, the owner may monthly ask his bank to pay the amount of rent to his account.
  • Payment of purchase of goods by installments
  • Payment of loan installments and loan facilities installments of Bank: Using “Direct Credit” and “Direct Debit”, you are able to make all of your receipts and payments at one bank using an account number. Hence, it is not required to have various accounts at different banks.


“PAYA” 24-Hour Services

PAYA system has been designed in such a manner that you are able to receive payment instruction from banks for 24 hours every day. This feature enables the banks to provide the customers with this service through internet, mobile phone and the ones.

If the money order is issued in “PAYA” beyond holidays up to 15:30 of the same date (15:30), it will be sent to the Central Bank and instruction for payments received from other banks to make payment to the account of the customer will be”15:45”.

Money order sent after 15:30 , will be forwarded to the central bank at 15:30 of the next working day.

Except public holidays, PAYA system transfers for settlement of business transactions (SHAPARAK) of yesterday will be processed once every day and during the cycle of 3:45 of the next day, and during public holidays, it will be processed once every day and for the cycle of 15:45, it will be processed in the next day to be sent to the recipient banks accordingly.

Hence, upon operational “PAYA”, the role of “SATNA” is summarized as follows:

  • Nationwide inter-bank IRR settlement center;
  • Prompt and significant inter-bank money orders;


Necessity for “Bank Account ID (IBAN)” in instructions sent to PAYA:

For assurance about preciseness of the account of destination by the bank for money transfer, the applicant shall inform the bank for money transfer the “Bank ID Order”-IBAN of the account of destination.

Modified Date1398/5/12- 8:14