Botswana Building Society (“BBS”), led by its Managing Director Mr. Pius Komane Molefe, has been consulting Members across the country on the plan to commercialise BBS.
What are the procedures to follow when transferring money from foreign based accounts to BBS accounts?
Anyone who wishes to remit funds to Botswana Building Society through financial institutions outside borders of Republic of Botswana must note that their bankers must have a link with one of the local banks through which they offer bank clearing services. The available facilities include among others, Telegraphic Transfers, Ufique messages just to mention a few. The local bank would then upon receipt of the instruction, forward the funds to Botswana Building Society either by cheque in favour of the Society with copy of instructions attached or credit BBS account in their books. There is no direct link with BBS since such transfers involves exchange of foreign currency to pula value.