What is an Immediate Interbank Payment (IIP)? (2024)

What is an Immediate Interbank Payment (IIP)?

Normal beneficiary payments to other banks take 24 to 48 hours to go through. An IIP is a payment to a beneficiary that goes through immediately.
Please note:

An IIP costs more than a normal payment (see ‘Charges’ for IIP costs).
The exact time that an IIP arrives in your beneficiary's bank account will depend on their bank, not on Absa.
IIPs to new beneficiaries or for once-off payments are always delayed by 1 hour.
Not all banks accept IIPs.

See also:

I can’t make an Immediate Interbank Payment (IIP). Why?

See Also

How Long Does It Take for an Online Payment to Hit My Bank Account? | Aisle Planner Help Center

See Also

Index of Industrial Production (IIP) - What is IIP? What does it indicate? Know More What is the difference between intra bank beneficiary and inter bank beneficiary?Frequently asked questions | Interbank GIRO - HSBC - MY What Is the Clearing House Interbank Payments System (CHIPS)?

What is an Immediate Interbank Payment (IIP)? (2024)

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