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Bangladesh Bank fixes MFS transaction limit

Bangladesh Bank fixes MFS transaction limit

Bangladesh Bank has fixed the limits on daily and monthly transactions from Mobile Financial Services (MFS) accounts to bank accounts.

From now on, people will be able to make daily transactions of up to Tk. 50,000 and up to Tk. 3,00,000 monthly from MFS to bank accounts, as per a central bank circular issued on Tuesday (Jul 5).

Earlier, there was no limit fixed by the central bank which created confusion among the MFS providers like bKash, and Nagad. So, in the past MFS service providers did not allow transactions above Tk. 25,000 daily.

The other instructions on MFS will remain unchanged, the circular added.