Mobile Financial Services
The rapid growth of mobile phone users and countrywide coverage of mobile operator's network has made their delivery channel an important tool-of-the-trade for extending banking services to the unbanked/banked population, especially to expedite faster delivery of remittances across the country. From legal and regulatory perspective, only the bank-led model is allowed to operate in Bangladesh.
Approved Mobile Financial Services (in broad categories) are listed below -
- Disbursement of inward foreign remittances.
- Cash in /out using mobile account through agents/Bank branches/ ATMs/Mobile Operator's outlets.
- Person to Business Payments ‐ e.g. a. utility bill payments, b. merchant payments.
- Business to Person Payments e.g. salary disbursement, dividend and refund warrant payments, vendor payments, etc.
- Government to Person Payments e.g. elderly allowances. Freedom‐fighter allowances, subsidies, etc.
- Person to Government Payments e.g. tax, levy payments.
- Person to Person Payments (One registered mobile Account to another registered mobile account).
- Other payments like microfinance, overdrawn facility, insurance premium, DPS, etc.
Through PSD Circular no. 01/2017, dated: 11/01/2017, Bangladesh Bank has reset the transaction limit in the following manner:
| Serial No. |
Type of transaction |
Transaction limit |
| Per Day |
Per Month |
| 01. |
Cash in |
BDT 15,000/- (maximum 2 transactions) |
BDT 1,00,000/- (maximum 20 transactions) |
| 02. |
Cash out |
BDT 10,000/-(maximum 2 transactions) |
BDT 50,000/-(maximum 10 transactions) |
| For any Cash in transaction in a certain a/c, not more than BDT 5,000/- can be withdrawn from that a/c within next 24 hours. |
| 03. |
Person 2 person transfer |
BDT 10,000/- (no limit in transaction number) |
25,000/-(no limit in transaction number) |
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