Announcements

Q. What is REMITBHUTAN?

RemitBhutan is a platform initiated by the Royal Monetary Authority of Bhutan to facilitate
non-resident Bhutanese to conveniently apply for non-face-to-face foreign currency account
with an authorized bank in Bhutan. It is envisaged that, through this arrangement, it will
promote national savings and enhance country’s foreign exchange reserves.

Q. Types of Account you can open through REMITBHUTAN

Non-resident Bhutanese Foreign Currency Account (NRBFC)- Saving Deposit
Non-resident Bhutanese Ngultrum Account (NRBNC)- Saving and Fixed Deposit

Q. What delivery channel facilities are available under REMITBHUTAN account?

For NRBFC- Internet Banking, International debit card
For NRBNC- Internet Banking, International and Domestic Debit cards, mBOB

Q. How to Open Account through REMITBHUTAN:

  • Apply online through RemitBhutan website www.rma.org.bt
  • RMA verifies and forwards to our Bank
  • Bank processes and open your FC account

 

Receive your accounts details and banking facilities:

  • If the account is opened successfully you will be contacted by the bank through email
    with your account details
  • If you have chosen mobile and internet banking facilities you will receive a subsequent
    email with the details
  • RMA will courier your international debit card and the PIN number separately

 

Q. How to access your REMITBHUTAN account?

You can view your account balance and transaction details through internet banking and mobile
banking.

Q. How to Transfer money from abroad into your REMITBHUTAN account?

You can use the following modes to transfer money from abroad into your REMITBHUTAN
account:
1. SWIFT- Thorough our correspondent banks. For details click here
2. International money transfer partners- IME remit and EXPRESS MONEY

Q. What are the charges for inward remittance?

The Bank of Bhutan does not levy any charges on inward remittance into your account.
However, the Bank you are remitting the fund from, will levy charges as per their prescribed
rates. We recommend choosing our correspondent Banks to remit fund from outside into your
account with us. For details click here

Q. How to Transfer money from your REMITBHUTAN account to other accounts in Bhutan?

For NRBFC account:
You can transact upto a maximum of BTN 100,000 equivalent foreign Currency using Internet
Banking, but if you wish to transfer fund beyond BTN 100,000/- and more, you can send a
signed letter via email to [email protected]

For fund transfer request received through email, we entertain only the transfer from your FC
account to your BTN account (as the fund circulates within your own account). This is to
mitigate any kind of frauds.

Once the fund in credited into your BTN account, MBoB enables you to execute further
transactions as required.

For NRBNC account:

You can transact upto a maximum of BTN 100,000 from your Ngultrum Currency Account using
Internet Banking.

You can transact unlimited amount from your Ngultrum Currency Account using MBoB,
however you will have to opt for one of the following limit category during the time of
registration. You can also choose to change the category as and when required.


Category Limit Charges in Nu. (Per Month)
General 1 ≤ 100,000 10
Silver 1 ≤ 500,000 50
Gold 1 ≤ No Limit 100

Q. What are the withdrawal facilities from the foreign currency account?

a) Withdrawal of convertible currency in cash is not permitted from your Foreign Currency
account. Cash withdrawal in Ngultrum only will be allowed.

b) Foreign currency in your account can be utilized for meeting the cost of import of goods and
services against import license/invoices and on the expenses relating to Travel, Studies,
Business and Medical treatment as per the Foreign Exchange Rules and Regulations of the RMA
in force.

Q. What additional incentives are available under the NRB Account?

a) Minimum balance retention in the account is not mandatory.
b) You are permitted full repatriation of the principal amount remitted in the currency of remittance.
d) You are permitted to maintain the foreign currency account upon return to the country permanently.
e) You can earn Interest on your Foreign Currency Account. For details click here