Doha Bank Launches New Local and International Funds Transfer Digital Service

Press Release

Doha Bank corporate clients can now process Local one-to-one, bulk and International Funds Transfer payments through Corporate Online Portal

Building on its service excellence, Doha Bank, one of the largest commercial banks in Qatar, recently announced the launch of its Local and International Funds Transfer digital service for its corporate clients.

The Local and International Funds Transfer service offers Doha Bank’s corporate clients the chance to process transactions to any beneficiary in local or international Banks through its online banking portal, while benefiting from a 25% discount on transfer charges. After the beneficiary details are entered and submitted, the client will be able to initiate and approve the transaction through Tadbeer Platform. The online bulk Local Funds Transfer service provides corporate clients with the convenience of processing payments to multiple beneficiaries at the same time through Doha Bank Corporate Online Banking Portal and without having to seek the branch’s assistance.

DB Tower

Commenting on the launch of these new services, Dr Seetharaman, CEO, Doha Bank, said: “Both the Local and International Funds Transfer services give customers more autonomy when it comes to managing their transactions, as they facilitate the processing of payments to Doha Bank’s and other banks’ beneficiaries through a secure online corporate banking portal which will save the clients both time and effort”.

The new services boast a wide range of features such as spotting mistakes related to incorrect IBAN and other erroneous inputs. They also utilize OTP and password to ensure a secure way of making payments. In addition to that, the system requires a maker, a verifier and an approver to guarantee that the payment is being authorized and sent by the designated user within the company/business.

Mr. Ala Abumughli, Chief Wholesale Banking Officer at Doha Bank commented: “Doha Bank Wholesale Banking is on a digital transformation journey and in today’s fast-moving world, it is imperative for us to create simple digital solutions that offer efficiency and security to our corporate clients. The launch of the new services tends to the needs of business owners and offers them a secure way of conducting their transactions, such as fund transfers in a timely and efficient manner and to reconcile transaction records and history of outgoing payments. This service will come in handy for business owners who can now conduct further analysis of their payments using this capability. At Doha Bank, we are committed to developing simple and easy to use solutions that will cater to the evolving needs of our corporate clients and create a positive impact on their digital banking experience.”

For more information on the new services, please visit www.dohabank.com.