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Corporate Information

Corporate Rates（https://bab.org.bn/corporate-information/service-fees/）

Cheque Clearing & Fund Transfer（https://bab.org.bn/corporate-information/cheque-clearing-fund-transfer/）

Cheque Clearing and Fund Transfer

The Brunei Darussalam Central Bank (BDCB) with the collaboration of The Brunei Association of Banks (BAB) has implemented and operating the National Payment and Settlement System (PSS). The National Payment and Settlement System is ensuring that interbank transfers in Brunei are fast, smooth and widely available to anyone with a bank account. The National Payment and Settlement System consist of the following key components operating Cheques Clearing and Fund Transfers:

1. Real Time Gross Settlement System (RTGS);

2. Automated Clearing House (ACH) Cheque Clearing;

3. Automated Clearing House (ACH) Direct Credit.

These systems are available 5 business days a week (with an exception of public holidays). In term of cut-off time of these payment, please refer to individual banks.

REAL-TIME GROSS SETTLEMENT SYSTEM (RTGS)

This core component of the National Payment and Settlement System is implemented in November 2014 using latest technology tools operating real time payments & settlement (uniform data presentation based on XML and SWIFT standards). It also provides enhanced liquidity and collateral management as well as monitoring facilities. This addresses the need for instant, large value interbank transfers primarily used for corporate and professional market transactions.

Real –Time Gross Settlement system (RTGS) is implemented in November 2014. This is in line with the BDCB orders, 2010 and 2015 where BDCB has the responsibility to develop, manage and oversee payment system in Brunei Darussalam.

This is the first electronic interbank payment system implemented in Brunei. With the RTGS system in place, customers can immediately send single transfer of large value and urgent payment to another bank where the fund transfer takes place in a safe and secure network environment. RTGS payment is credited to beneficiary’s account in real time.

AUTOMATED CLEARING HOUSE (ACH) CHEQUE CLEARING SYSTEM

This core component of the National Payment and Settlement System is implemented in May 2016.