Thukten Zangpo 

In an attempt to make financial transactions seamless and secure, Bank of Bhutan (BoB) unveiled its latest retail and corporate internet banking services yesterday.

According to the bank’s press release, online or e-banking will reshape the banking landscape by providing users the ability to conduct financial transactions securely over the internet, eliminating the need to visit a physical branch office. 

BoB’s Product Innovation and Customer Experience Officer, Chador Tenzin, said that users can access their accounts, view balances, transfer funds, pay bills, and perform various banking tasks from computers or mobile devices through the platform.

For retail internet banking, any individual with a savings account or current deposits account can easily sign up for the service through self-registration. This platform will provide service to people who are not comfortable using the bank’s app, mBoB which will be provided for free. 

Corporate internet banking will allow businesses and corporations seamless fund transfers among their own accounts, beneficiary accounts, BoB accounts, and accounts of different banks and transfer funds from the businesses’ foreign currency account to BTN account. These aids in making various payments like vendor or supplier bills with ease, Chador Tenzin said. 

He said that the bulk transfer in corporate internet banking allows transferring funds where multiple transactions can be conducted in a single operation such as salary payments and distribution of dividend distribution. It also facilitates utility and government bill payments, including electricity bills and taxes. 

The bank is offering a free promotion trial for corporate internet banking service until December and thereafter, it will charge a nominal fee based on the number of users.