The Central Bank of Bahrain has recently announced that all banks in Bahrain need to implement Electronic Funds Transfer System (EFTS) – a national electronic payments system inter-connecting all retail banks, their customers (Personal and Corporate) and bill originators.
The Electronic Fund Transfer System (EFTS) is an electronic system that interconnects all retail banks in Bahrain which 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 services are accessible through the banks' various channels such as Branches, Personal 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.
There are 3 main services of the EFTS, which are as follows:
Fawateer is online Bill Payment services introduced under the Electronic Funds Transfer System (EFTS) in the Kingdom of Bahrain. Fawateer provides real time bill payments and enquiries, which allows a customer to pay and settle bills within 30 seconds.
The new Electronic Fund Transfer System is governed by the Bahrain's Electronic Network for Financial Transactions, called BENEFIT.
Through the Fawateer, you can enquire, access and pay single or multiple bills to Billers registered with BENEFIT, by selecting the biller and entering the biller's ID or Customer's ID and any additional information as required by the biller.
Online Billers are Billers registered with BENEFIT where you can enquire Bills due (outstanding bill amount), Real Time. Offline Billers does not give you the option to enquire dues outstanding bill amount), Real Time, to settle bills.
As the Fawateer Bill Payment service requires that all Billers be registered on the online portal, the previously set up Payees on PIB cannot be reused. However, American Express (AMEX Bill) Payee can be used at HSBC ATMs or on Phone Banking.
As an HSBC Customer you can continue to pay AMEX using the following channels:
Yes, you can still view the Bill Payment history for Bills paid previously on Personal Internet Banking.
The bills paid through Fawateer system will be completed in 30 seconds. If the System is unable to settle the bills due to Biller system being offline or any other issue, the funds will credit back into the account immediately.
The Fawateer service is a free service and is available 24/7/365 days of the year including Bank Holidays.
You can do any number of Fawateer transactions a day. But, the aggregate value of all Fawateer transactions is limited to BD 4,000/ per day.
It's available on both Personal Internet Banking (PIB) and Mobile Banking.
You will have to select the respective Billers who have registered for Fawateer for the details and the required IDs for verification. Once you have the required details you can ‘Add Payee' (Biller) on HSBC Personal Internet Banking (PIB).
You will need an HSBC Secure Token to access these services/icons. Once you have added a Bill Payee or Amended an existing Fawateer registered Bill Payee, then you can Enquire and Pay or use Quick Pay to complete the transaction.
The Fawateer provides One-step Bill payment (Quick Pay) to New Payees registered on the Fawateer system or Payees already added in Personal Internet Banking (PIB) without enquiring Real Time dues (outstanding bill amount) to be settled. You will need the details of the Biller along with the IDs required to settle the Bill. Enquire and Pay gives the benefit of enquiring Real Time dues to be settled before making the settlement.
Should you have any query in this regard, please contact your Relationship Manager, nearest branch or our call center at below numbers:
Thank you for banking with HSBC.
HSBC Bank Middle East Limited Bahrain Branch, P.O. Box 57, Manama, Kingdom of Bahrain, licensed and regulated by the Central Bank of Bahrain as a Conventional Retail Bank for the purpose of this promotion and lead regulated by the Dubai Financial Services Authority.