Bahrain Electronic Funds Transfer System

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The Electronic Fund Transfer System (EFTS) is a national electronic payments and transactions system that interconnects all retail banks in Bahrain, their customers (Retail and Corporate) and Bill Originators.

What is the EFTS?

The EFTS aims to enhance the efficiency of fund transfers and bill payments; enabling banks, individuals, corporate and Government entities to benefit from this important project. These new services are accessible through the banks' various channels such as branches (for Retail Banking only), internet banking and mobile banking.

EFTS will enhance and streamline the movement of funds in Bahrain across all sectors which shall promote a more efficient and proactive banking sector.

What are the services of EFTS?

There are 3 main services of the EFTS, which are as follows:

  1. Fawri+ is Near Real Time (NRT) a near real time fund transfer service which allows Retail Banking customers to transfer funds in Bahraini Dinars, up to a maximum of BD 1,000 per day, per account within 30 seconds 24*7*365.
    Fawri+ ensures a full straight through process flow with no manual intervention. With just the beneficiary IBAN (International Bank Account Number) and the amount, the amount is credited within maximum of 30 seconds into the beneficiary account. Fawri+ also facilitates Direct Debits which automate bill payments. Direct Debit allows billers (as per the authorization of customer) to debit the customer's account on a regular basis on the due date of their bills without the need for customers to worry about pro-actively making the payment on-time.
  2. Fawri is a Deferred Net Settlement (DNS) fund transfer service which allows both Retail Banking and corporate customers to transfer any amount in local currency to another beneficiary in Bahrain, settled at defined intervals, within few hours during a business day. Fawri processes single transfers or bulk fund transfers such as salaries and vendor payments in an efficient and automated manner. Fawri also facilitates Direct Debits.
  3. Fawateer is Electronic Bill Payment & Presentment (EBPP) fund transfer service which aggregates bills from multiple billers and present those bills to Retail Banking customers in one interface. It is a one stop shop for bill enquiries and payments (users will need to pre-register EFTS specific billers), where customers can view their outstanding bills of multiple billers and pay all immediately in a single click within 30 seconds, if initiated from Retail Internet Banking or Mobile Banking channels.

How to use the service?

HSBC has launched Phase 1 which covers all Inward payments and will be launching Phase 2 that covers Outward payments, as follows.

  1. Fawri+ (NRT) and Fawri (DNS) through Retail Internet Banking or Mobile Banking application: 18th March 2016.
  2. Fawateer (EBPP) : 17 June 2016
  3. Fawri (DNS) through Corporate Internet Banking - Tentative 19th June 2016

Retail Banking / corporate customers can use EFTS Outward payments services post Phase 2 launch, by visiting the banks' branches or through internet banking (retail and corporate) or mobile banking application.

For any questions, please contact your Relationship Manager, nearest branch or our call center.

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