BB extends MFS transaction limit

No charge on transactions up to Tk40,000

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The Bangladesh Bank (BB) on Sunday extended the transaction limit for mobile financial services (MFS) following the announcement of nationwide seven-day lockdown from Monday to curb the spread of Covid-19.

The central bank also extended the deadline for paying credit card bills, mentioned a notice they issued on the day.

The notice also said that person-to-person (P2P) transaction cap through MFS is now Tk2 lakh per month, which was Tk75,000 earlier.

No charge can be imposed on transactions up to Tk40,000 per month in P2P.

The maximum limit for each transaction will be at Tk10,000.

Besides, credit card bills cannot be taken during lockdown. The bill payment date must be extended to the next five working days after the lockdown ends. No delay fee will be charged for this extended period.

Also, interest can be charged only on principal amount. In addition, no new interest can be charged on the next month's bill on the previous month's bill's interest.

The central bank directive further called on banks to take all necessary measures to keep all types of digital transactions uninterrupted.