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Do you remember the days making telegraphic transfers and waiting a week or two for it to hit the nominated overseas account? Yeah, that was a long wait. That “waiting time” was reduced by a couple of days but this week the timing got even shorter, It’s no longer weeks or days but hours to hit your overseas beneficiary account!
As a regular user of BSP’s FX Payment online, we’re usually happy with the service. But this week, things took a slightly different turn for the better. Our international transfer took three hours from the time the payment was submitted by us to hit the overseas beneficiary account.
Think we’re kidding? Take a look!
We weren’t the only ones to be pleasantly surprised by the speed of the service – one of our twitter followers also had his transfer done on the same day but was an hour shorter!
Although we have not confirmed this, we believe the improvement relates to BSP’s implementation of the SWIFT GPI tool launched late last year.
If you are a regular sender of money overseas, it would be recommended to use the BSP online facility. You can visit www.bsp.com.pg for more information.