BB sets MFS-to-bank transaction limits

The Bangladesh Bank (BB) on Tuesday set the limits of daily and monthly transactions from mobile financial services (MFS) accounts to bank accounts - to remove confusion among customers.
The MFS account holders, from now on, can make transactions of up to Tk 50,000 daily and up to Tk 300,000 monthly, according to a BB circular. Besides, there will be no limit of transaction numbers.
Previously, the limits were not set by the central bank, but the MFS platforms did not allow transfer of more than Tk 25,000 per day to bank accounts.
On April 25, the BB issued another circular, setting the limits for cash in to MFS accounts from bank accounts or cards.
The maximum limit of cash in through bank accounts and cards to MFS accounts was set at Tk 50,000 daily and Tk 300,000 monthly, as per the BB circular.
According to the BB website, currently there are 12 MFSs in operation in the country, of which bKash, Rocket and Nagad are the prominent ones.
As of April 2022, average daily transaction via the MFSs was nearly Tk 30.97 billion, which was Tk 24.90 billion a month ago.

ahb_mcj2009@yahoo.com