Kuwait Finance House–Bahrain is pleased to inform you that the Central Bank of Bahrain (CBB), in collaboration with The Benefit Company (BENEFIT), has introduced an enhanced payment system known as Electronic Fund Transfer System (“EFTS”). The purpose of “EFTS” is to further improve the payment framework in the Kingdom of Bahrain by reducing the transaction time.
The “EFTS” is a national fund transfer and payment system, that enables the Banks’ customers to use and benefit from three main “EFTS” services.
“Fawri+” (Near Real Time Transfer (NRT))
- This service will allow local transfers within 30 Seconds.
- The number of transactions per day are unlimited, however, the total daily value should not exceed BHD 1,000/- per Account per day.
- Transaction less than BHD 100/- are free of charge.
- Transactions that range from BHD 100/- to BHD 1,000/- will be charged a fee of BHD 0.100/- per transaction.
“Fawri” (Deferred Net Settlement DNS))
- This service is for local transfers and the daily limit for using this service are open; this includes standing orders of customers to other Banks in Bahrain.
- All transfers submitted between 7:45 A.M. to 12:15 P.M., are processed by the Bank same day in the afternoon.
- All transfers submitted between 1:30 P.M. to 7:45 A.M., are processed by the Bank next day in the morning.
- Transactions that range above BHD 100/- will be charged a fee of BHD 0.100/- per transaction.
“Fawateer” (Electronic Bill Presentment and Payment (EBPP))
- A one stop shop for bill enquiries and payments.
- Customers can view their outstanding bills from multiple billers and pay the respective immediately in a single click.
- Transactions that range from BHD 100/- to BHD 1,000/- will be charged a fee of BHD 0.100/- per transaction for “Fawri” and “Fawri+” only.
- This service is available for all KFH Clients.