BNB Remit FAQ

BNB Remit is a mobile and web application for Person-to-Person (P2P) money transfer from Australia to Bhutan only. The money transferred will be directly deposited to the beneficiary’s account maintained with us and other banks in Bhutan. It is facilitated by the Bank National Bank Ltd. in partnership with Transcash International Pvt Ltd., a company incorporated in Australia, under the license name of iPay Remit.

Any Bhutanese Living Aboard (BLA) or Non-Bhutanese are eligible to use BNB Remit.

  • To register on BNB Remit, you need to download the BNB Remit app from the App Store or Google Play Store. You can also register through our web application at https://remit.bnb.bt/
  • Click on the “Register” button to proceed with the registration.
  • New users will receive a 6-digit OTP on their mobile for verification purposes.
  • Login to the app to create your profile and start using the BNB Remit Services.
  • If you are an existing user, directly Login to the application.

  • For Bhutanese Living Aboard, you need to submit a valid Bhutanese passport copy.
  • For Non-Bhutanese you can register using your valid passport or driver’s license.

  • After successfully signing up, go to “Your Details” to complete the registration and KYC verification.
  • Fill in the personal information, address details and document details. Ensure to enter the Full sender’s Australian address with correct details like unit/ street number, street name, Suburb/city, state, and zip code. e.g. 74, Ford Road, Besselton, WA, 6280
  • Take and upload a live image of the original passport in real-time. For Bhutanese, select Bhutan as a “Document Issued Country”.
  • Take a live selfie which should be a real individual, should not wear caps or sunglasses or any face blocking objects and should not be a scanned image.
  • The live selfie should be taken within 3 minutes and the device should not be locked during the process, the process should be completed within the active session.
  • Please ensure that camera access is allowed, if not, allow it from your phone/device settings.
  • Once all the above information has been submitted, it will be reviewed by our team.
  • If your KYC is not reviewed, a “KYC Not Verified” status will be displayed.
  • If your KYC has not been submitted, the “KYC Not Completed” status will be displayed.
  • If your KYC has been rejected by the bank, the “KYC Rejected” status will be displayed. In such a case you need to re-submit the documents. You will be allowed to re-submit KYC only five times. After the fifth attempt, you will have to contact the bank for KYC verification.
  • Once your KYC verification has been completed, you can send money.

  • You need to add a beneficiary to send money. Click on “Beneficiary” to add beneficiary details.
  • Enter the Full beneficiary address in Bhutan like House no, Street name, Exact Location, city, Country (e.g. Motithang, Amankora, Thimphu, Bhutan or Village
    Gewog, Dzongkahg)
  • Click on “Send Money” to transfer the funds.
  • Select a beneficiary from the beneficiary list. Beneficiary details will be auto populated, then click on “Continue”.
  • Enter the amount you want to transfer (in the field “You Send”, only enter the amount you are transferring to your account, without the transfer fee).
    a. If the beneficiary’s account is BTN, the converted amount will be displayed. The incentive amount will also be displayed and deposited in the same
    account.
    b. If the beneficiary’s account is AUD, the beneficiary will receive the equivalent AUD amount. You should enter the beneficiary’s BTN account
    number to transfer the incentive amount.
    c. If the beneficiary does not have a BNB account in BTN currency, the incentive must be claimed in person over the counter.
  • Check the Total Payable Amount. This is the amount you need to transfer including the service charge.
  • You will have two payment methods: PayID or Bank Transfer (BSB account). Choose one of the payment methods, confirm and a transaction will be created.
  • Navigate to the Australian Banking Application and transfer the fund to the above selected payment method account. Retain the fund transfer receipt.
  • Ensure to transfer the transfer fee of AUD 5.5 along with the amount for Send Money (e.g if you are sending AUD 100, transfer AUD 105.5 from your mobile banking app)
  • Please ensure to enter the transaction reference number in the description field while making the PayID payment or Bank account transfer in your Australian Banking Application.
  • Return to the BNB Remit app and upload the receipt of the fund transfer to complete the transaction.

Please note: Kindly avoid third-party transactions, which include transferring funds from another individual’s bank account, even if they are family or friends to ensure compliance with regulations and prevent any breaches.

  • AUD 5.5 per transaction irrespective of the transaction amount.
  • No charges on interbank transfers (promotional facility)
  • Refund Fee AUD 7

  • The monthly transaction limit is up to 100,000 AUD (on a per-day basis or within the last 30 days whichever is higher).
  • For transactions exceeding 10,000 AUD in a month, there is an additional compliance requirement. You will have to submit the latest pay slip and/or bank statement dated no older than 90 days before the transaction date (The bank statement must be complete with no pages missing).

The amount will be refunded in the following situations:

  • Third-party transactions are reflected in your bank statement when the transaction amount is more than AUD 10,000.
  • Failure to provide or upload requested details such as a passport or other documents.
  • If the transferred amount is short of the transaction amount including the service fee.
  • Upon customer request.
    a. Refunds should be requested within two weeks of the amount transfer.
    b. If the beneficiary does not have the funds, the bank will not be liable to process the refund.

Note: Bank reserves the right to refund on its discretion.

Transaction will be deposited within one working day:

  • Unless a compliance check from AUSTRAC is required.
  • If accurate KYC details and beneficiary information are provided. Ensure to include the beneficiary’s full address details in the designated ‘Full Address Field,’ which should encompass details such as house number, street name, nearest landmark, city, and country. The format should resemble something like ‘BNBL, Corporate Office, Thimphu, Bhutan’.
  • If the Full sender’s Australian address (unit/ street number, street name, Suburb/city, state, zip code. e.g 74, Ford Road, Besselton, WA, 6280) details are provided correctly

  • BNB Remit offers payouts in two currencies i.e. AUD and BTN.
  • AUD payout will be facilitated to BNB account holders only.
  • BTN payout will be facilitated to both BNB and other bank account holders.
  • AUD amount received in the AUD accounts can be withdrawn as per the Inward Remittance Rules and Regulations 2023.
  • The exchange rate set by the Royal Monetary Authority of Bhutan will be applied to the BTN payout.

  • On the Login page, click on Forgot mPin, Enter the registered phone number or email address to receive the 6-digit verification code, enter the code and reset the mPin
  • Or Inside the app, go to More, click on Change mPin, enter the old mPin and New mPin

  • Since there is a validity for the transaction created in the app, we encourage customers to transfer the amount within a few hours (2 Hours) after creating the transaction.
  • Transaction undergoes compliance review in the following cases:
    ○ Once the transfer amount exceeds the compliance limit of AUD 10,000 per day or within the last 30 days
    ○ If the payment is received from a 3rd party
    ○ If there are incomplete transaction details including sender/beneficiary address and if additional information is required.
  • Transaction status details are as follows:
Sl.no Status Details
1 Created Transaction created
2 Pending Approval Awaiting payment from the customer or not approved by our operations team
3 Processing Once the payment is approved, the transaction is held for compliance review
4 Refunded/Rejected Transaction rejected due to non-receipt of funds from customers within the stipulated time.

The customer should wait till the document expires. If a customer wants to update the document before expiry, the KYC status should be manually updated by the bank.

  • The incentive amount will be calculated and displayed whenever it is provided by RMA.
  • The incentive amount will be deposited in the beneficiary’s BTN account.
  • Incentives can be claimed in BTN only.