Banky team Reviewed editorial answerAn IPA is a simplified instant payment address that you link to your InstaPay account, and it looks something like name@instapay.
Key points
Think of it as a simpler name than having to send your account number or IBAN every time.
The person sending you money can choose to send it to an IPA and enter the address, but before approving any transfer, they must check the displayed name and confirm it's you.
Choose your IPA carefully because it becomes the address you use for receiving payments.
The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.