Mobile banking transaction limit doubled

Bangla Tribune Report
Published : 20:26, May 19, 2019 | Updated : 21:09, May 19, 2019

FILE PHOTO/Mehedi HasanWith the Eid-ul-Fitr nears, Bangladesh Bank has doubled the limit for transactions through mobile banking.
In case of cash-in,  a maximum of Tk 30,000 per day through five transactions, according to a circular issued on Sunday (May 19).
Previously, the limit was Tk 15,000 per day with two transactions.
For cash-out, an individual can withdraw maximum Tk 25,000 per day, up from the previous Tk10,000, reads the statement.
It said the maximum withdrawal per month is Tk 150,000 at a maximum of 20 takes while the limit was Tk 50,000 per month.
For withdrawing cash of Tk 5,000 and over, the receiver must show proper verification - national identity card or its photocopy - to the mobile banking agent.
Agents have to maintain separate log books on cash-in and cash-out with customers’ signature or fingertip.
No agent can make cash-in and cash-out to another agent account with an agent can give money to his own account maximum five times a day, according the statement.

Earlier in January 2017, Bangladesh Bank brough down the transaction ceiling of personal account of MFS (mobile financial services) in a bid to combat illegal financial transaction, mainly foreign remittance through “hundi”.