BoB launches mobile banking services

The Bank of Bhutan (BoB) launched its mobile banking services called banking on wheels on Wednesday.

Banking on wheels provides basic banking facilities from a mobile van equipped with computers and other equipment capable of providing banking services like any branch of the bank.

The mobile van will travel to various areas in Thimphu on a fixed weekly schedule and provide banking services to the community in the particular area.

Services from banking on wheels include opening of bank accounts like saving accounts, current accounts, accepting loan applications, cash deposit and withdrawal, account balance enquires and fund transfers.

BoB Chief Executive Officer, Pema N. Nadik it is the country’s first banking on wheels and he is certain that this initiative would go a long way to increase convenience to customers by providing basic banking facilities at their doorstep, saving both time and money for clients.

“It would benefit everyone as they need not go to the bank for daily basic banking transactions such as withdrawal or deposit of cash. The bank will come to them instead,” said BoB CEO.

Banking officers said manning the vehicle will also be helping clients in creating awareness about the bank’s products and services so that clients have better understanding of the banking services.

Banking on wheels is a part of the financial inclusion initiative of the bank. Through the services, the bank hopes to increase its reach within capital city since it has the largest population concentration in the country. It is the first such service launched in country by any bank.

Dechen Dolkar from Thimphu