Electronic Fund Transfer System (Salary Transfer)

Kuwait Finance House – Bahrain is pleased to inform you that the Central Bank of Bahrain (CBB), in collaboration with The Benefit Company (BENEFIT), is introducing 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 CBB requires all banks to comply with the EFTS requirements. Accordingly, you are requested to include the IBAN numbers for all local transfers (i.e. transfers within the Bank, transfers to other banks & salary transfers) with effect from 5th November 2015.

In order to ensure smooth processing of your usual transfer instructions, we kindly advise you to start updating your records with the relevant IBAN numbers immediately. Furthermore, for monthly salary transfer of your employees, you are requested to use the enclosed template for prompt and uninterrupted processing. As you are aware, the salary transfer instructions along with the related details should be made available to our Dispatch Department located on the mezzanine floor of our Branch at the Bahrain World Trade Center.

Please note that when providing the IBAN numbers, the use of “spaces”, “hyphens (-)” and/or “Forward Slash (/)” must be avoided. Any transfer requests without the IBAN number and/or showing only the recipients account numbers will not be processed, without any liability on the part of the Bank. 

You may click here to download an electronic copy of the Salary Transfer template.

Template Details:

Column Title Description Max Length Comment
Beneficiary IBAN Number Employee IBAN number 35
Beneficiary  Name Employee Name  35
Transaction Type Code please repeat " 021 " in all rows. 3
Creditor Card Type please repeat " N " in all rows. 1
Company IBAN number Employer IBAN number  30 Will be converted to IBAN if not already in IBAN format
Company Name Employer Name 35 Please repeat the company name in all rows
Value Date Transfer Date in YYMMDD format 6 Transfer date cannot be in past and should be in YYMMDD format. All rows in excel must have same value date
Currency Code Please repeat " BHD " in all rows 3
Salary Amount Employee Salary Amount Should be numeric
Details of Charges Please repeat " OUR " in all rows

For further information or clarification, please contact your nearest branch, Relationship Manager or our call center at 7777 7777.

Required Forms & Documents

You will need to download and fill the following:

Salary Transfer Template