BNB opens bank agent in collaboration with Bhutan Post

Bhutan National Bank (BNB) launched its bank agent called BNB Ngotshab, a first of its kind in collaboration with a corporation, Bhutan Post.

BNB launched Ngotshab in coordination with Bhutan Post since its offices and outlets are available in almost every corner in the country.

Chief Operations Officer of BNB, Hem Kumar Acharya said that four Bhutan Post outlets already started providing services at Paro, Gasa, Punakha and Haa from March 1.

The outlets provide services like withdrawal, deposit and transfer of money within BNB and other banks.

“Our agent will accept other banks’ ATM card to deposit and withdraw money,” said Hem Kumar.

The limit for transferring money within BNB is up to Nu 500,000 and to other banks up to Nu 100,000. Withdrawal limit is up to Nu 10,000 per transaction and deposit is up to Nu 20,000 per transaction.

Hem Kumar Acharya said that the agent will be given commission based on the number of transactions.

He said that this can also help in combating the COVID-19 outbreak as many people do not want to be in crowds. This service can facilitate and offer people an alternative channel to transact money one on one.

Initially BNB will be opening and reaching out to 44 outlets with Bhutan Post across the country where BNB branch office and services are not available.

Hem Kumar also said that soon they will be opening BNB Ngothsab with retail shops in the country because retails shops will be open during the holidays whereas Bhutan Post outlets will be closed during breaks.

Currently the bank has one retail agent in Thimphu on trial.

Processing of loans and opening of accounts will be done in the second phase.

The BNB Ngotshab was launched on Wednesday, at the Dzong post office.

“The agent is open in this particular area as many offices located near Tashichodzong can avail services without going to banks,” he said.

Dechen Dolkar from Thimphu