BB to start probe into debit card-related fees, charges

FE Report | Published: March 17, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

The central bank is going to start probe into debit card-related fees and charges, imposed by banks concerned, to protect depositors' interest, officials said.
The Bangladesh Bank (BB) has formed two teams for probing on fees and charges of ATM (Automated Teller Machine) booths along with implementation of displaying the specific service charges for using inter-bank ATMs at an easily viewable place of the booths.
The teams will investigate 10 banks out of 40, which have already joined in the National Payment Switch Bangladesh (NPSB), from March 18 to March 25.
"We'll decide the next course of action after receiving the inspection reports," a BB senior official told FE Monday without elaborating.
The central bank has taken the latest move against the backdrop of rising allegations of charging higher fees, by a number of banks, bypassing the BB's instruction on use of ATM booths.
Earlier on January 20 last, the BB re-fixed the charges for using ATM, which came into effect from February 1. As per the latest decision, the fee was re-fixed at Tk 20 per transaction for cash out from ATM booths of banks other than the card-issuing bank.
Of the amount, Tk 15 will be debited from the account of the customer while the card issuing bank will pay the rest Tk 5.
The NPSB is a network, introduced by the central bank on December 27, 2012, to create a common platform for the payments originating from different delivery channels and existing shared switches in order to facilitate inter-bank electronic transactions.
Under the payment system, clients are able to withdraw cash, inquire about their account balance and get mini statements from the ATM booths initially on a fixed charge.
At present, more than 5,500 ATM booths are in operation across the country. Of them, 90 per cent are connected with the NPSB.
Besides, the central bank earlier asked the NPSB member banks to display the specific service charges for using inter-bank ATMs at an easily viewable place of the booths.
Currently, around 8.0 million debit cards are being used across the country.
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