“The fee was imposed since 2015, but some banks were bearing it on behalf of their customers as a kind of promotion and customer service,” the Assistant General Manager for Marketing and Innovation at the Benefit Company, Nizar Maarouf, exclusively told Albilad Newspaper.
Maarouf pointed out that the Benefit Company had nothing to do with the policy of banks and their decline in sponsoring fees for the service of transferring amounts. He noted that all commercial retail banks are linked with the Benefit Company in the system of financial transfers.
He added that the fee, 105 fils, existed with the launch of the Electronic Fund Transfer System (EFTS) service in Bahrain in 2015. He explained that the 100 fils fee and 5 fils VAT for all (Fawry Plus) service transactions, and (Fawri) service, which were designed for large money transfers.
The Assistant General Manager for Marketing and Innovation at the Benefit Company confirmed that a notice about the fees will be circulated by Benefit Company through the company’s social media account.
It is noteworthy that local retail banks notified their customers through SMS that a fee of 105 fils fees will be imposed for all cash transfers that exceed BD100 made via Fawry+ and Fawri in BenefitPay App starting from 29th of July.