Industry

BB re-fixes mobile financial service money transaction limit

Bangladesh Bank (BB) has re-fixed the Mobile Financial Services (MFS) Transaction limit.

The central bank has re-fixed the daily money transfer from Mobile Financial Service (MFS) to a bank account at Tk 50,000 and withdraws the number of daily transaction time’s limit.

The payment system department of BB on Tuesday issued a circular in this regard and sent it to the top executives of all banks and mobile financial service providers.

The central bank has also fixed monthly such money transfer limits at Tk 30,0000.

Read: Ensure 'no mask no service' policy in banks as Covid cases rising: BB

The BB earlier on April 25 withdrew the number of daily transaction times and fixed the daily cash-out limit at Taka 25,000 from agent point while the monthly transaction limit is Taka 150,000.

The cash-in limit remained unchanged at Tk 30,000 while the monthly limit was set at Tk 2,00,000, the person to person (p2p) cash transfer limit set at TK 25,000 daily and Tk200,000 monthly.

The MFS account can keep a maximum balance of Taka 300,000 in each account.

The bank account to mobile financial service daily money transfer limit set at Taka 50,000 while monthly limit at Taka 300,000 also unchanged.

Source: United News of Bangladesh