FAQ on BoBit
BoBit is a money transferring platform for Non-Residential Bhutanese (NRB) residing exclusively in Australia. It is facilitated by the Bank of Bhutan in partnership with FLEXEWALLET PTY LIMITED, a company incorporated in Australia.
Only Bhutanese citizens residing in Australia are eligible to use BoBit.
The transaction amount limit through BoBit per transaction or in a day is AUD 20,000. This means you can initiate multiple transactions, but the total amount limit is AUD 20,000.
A bank statement is required for transactions exceeding AUD 5000 due to strict anti-money laundering rules and regulations in Australia.
A bank statement is required when the amount deposited in the BoB nostro account is less than AUD 5000. This ensures compliance, as customers might mistakenly initiate multiple transactions exceeding AUD 5000 where a bank statement is necessary.
To upload your documents on BoBit after creating your profile, visit www.bobit.bob.bt. Once the BoBit screen opens, log in with your Google account by clicking ‘Continue with Google.’ After logging in, locate three horizontal lines at the top right corner, click on them, and select ‘Profile.’ Review the details you provided, and if there are any errors, correct them here.
Suppose you need to upload your bank statement due to transactions exceeding AUD 5000. Click on ‘UPLOAD DOCUMENTS.’ Initially, upload your passport to proceed with supporting documents. After uploading your passport, you’ll find the option to upload supporting documents. Choose ‘Others,’ provide document details (e.g., document name), and upload. If you have multiple bank statements, you can upload them simultaneously by submitting the first one and then selecting the next statement to submit.
The amount is refunded in the following situations:
The processing time depends on the documents and details provided. If provided as per BoBit requirements, the amount is typically deposited within one or two working days. For transactions over AUD 5000, approval from the compliance team may be required.
Approval depends on the absence of third-party transactions in your bank statement. If no third-party funds are involved, approval occurs within one to two working days; otherwise, the transaction will not be approved, and the amount will be refunded.
No, under such situations, the transaction amount will be refunded, as the first transaction should be initiated before depositing the transaction amount.
Instead of logging in, click on ‘Sign In’ and choose “Continue with Google.” This allows you to proceed with your transaction without re-entering your details.
Transaction status remains under review and master review status under the following situations:
No, when the transaction status is cancelled, it does not mean your amount will be refunded or the transaction will not proceed. Under such situations, your transaction can be reinstated, but you need to upload your details and documents as per the focal.