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The landscape of digital banking in Botswana has shifted. As of February 1, 2026, the Bank of Botswana has implemented a new framework for Electronic Funds Transfers (EFTs) that promises to eliminate the long wait times traditionally associated with moving money between banks.
The changes focus on two major areas: increasing the frequency of inter-bank settlements and mandating strict timelines for when banks must make funds available to their customers.
A New Daily Rhythm: Four Settlement Windows
Until now, the Botswana Interbank Settlement System (BISS) operated on three daily windows. This often led to "settlement backlogs," where transfers made late in the afternoon would get stuck in a queue and might not be processed until the following business day.
To solve this, the Bank of Botswana has introduced a fourth settlement window at 17:00 hours. The new daily clearing schedule is now:
09:00
12:00 (Noon)
15:00
17:00 (The new addition)
This extra window is designed to clear late-day transactions and improve liquidity across the entire financial system, ensuring that money doesn’t "sit idle" overnight.
The 60-Minute Rule
Perhaps the most significant change for the average consumer is the new mandate on Mandatory Crediting. Once a clearing cycle is complete and a commercial bank receives the funds or settlement confirmation, it is now legally required to credit the beneficiary’s account:
Immediately, or
No later than sixty (60) minutes.
This effectively ends the era of waiting hours—or even a full day—for a transfer to "reflect" after the sender’s bank has already released the funds.
Why the Change?
According to the Bank of Botswana, these measures are part of a broader effort to modernize the national payment infrastructure and support the Botswana Economic Transformation Programme. By extending processing hours and tightening the turnaround time for crediting accounts, the Bank aims to:
Enhance the overall customer experience for digital payments.
Strengthen market responsiveness and operational efficiency.
Improve liquidity flow for both individuals and businesses.
What This Means for You
For individuals, it means faster access to salaries or personal transfers. For business owners, particularly those managing tight cash flows, the increased frequency of settlements means that payments from clients will be available for use much sooner in the business day.
This move marks a significant step toward a more responsive and customer-centric banking environment in Botswana, aligning the country with international standards for digital financial services.
Source: Bank of Botswana
