BOLB & BMB

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BOLB & BMB Funds Transfer Quiz

Test your knowledge on BOLB and BMB funds transfer with this comprehensive quiz! This quiz is designed to cover various aspects of secure messaging, bulk payments, and customer functionalities.

Whether you are a professional in the financial sector or just someone looking to improve your understanding, this quiz allows you to:

Evaluate your knowledge on transfer limits and charges
Learn about customer registrations and account updates
Understand payment authorizations and methods

16 Questions4 MinutesCreated by TransferringFunds23

3rd party funds transfer (business) - day limit

100,000

50,000

250,000

200,000

Bips Payment charge (online)

£25

£20

£15

Free

SLA for secure messaging

5 working days

24 hours

Immediate

48 hours

How many bulk payments can people make in a single transaction

100

Customers need to register for secure messaging

True

False

Customers see their currency accounts online

True

False

Can all customers make 1st and 3rd party payments from their cfc

Yes

* A subset of customers can make international payments from their Foreign Currency (CFC) accounts through Online Banking. As this is only available to a subset of customers, you should be prepared to help our customers with queries about the new functionality in Online Banking, but do not share the news proactively until the roll-out is complete in mid-June.

What address's can a customer update online

Main/trading

Registered

Corrospondance

Duplicate corrospondance

- An address cannot be removed – it can only be updated.

- Business customers with a complex signing mandate accounts cannot update their contact details online.

- An address cannot be removed – it can only be updated.

- Business customers with a complex signing mandate accounts cannot update their contact details online.

Is bulk payment available on BMB

Yes

What is the minimum amount of payee's for bulk payments

For new beneficials being set up with in bulk payments, what authorisation will be needed?

Pinsentry

Passcode

- Customers with passcode are only able to make payments to a beneficiary on the beneficiary register or previously saved payees. If they wish to pay a new payee they will be diverted to PINsentry to upgrade their online banking access.

- New 3rd party payments will need to be authorised using PINsentry.

Which methods can customers set up bulk payments

In Branch

BOLB

BMB

Telephone banking

How to set up

Customers do need to set up the service themselves using Online Banking.

To access this service, advise customer to:

select ‘Pay and transfer’ from the menu

then ‘Group Payments’