Bangladesh Bank raises limits for transactions via mobile financial service

Customers can now transact higher amounts through MFS platforms like bKash, Nagad, and Rocket as demand continues to grow

Bangladesh Bank has increased the transaction limits for mobile financial services (MFS) such as bKash, Nagad, and Rocket, allowing customers to conduct higher transactions than before.

The central bank cited rising customer demand as the key reason behind the decision.

The Payment Systems Department of Bangladesh Bank issued a notification on Thursday, instructing all banks to implement the revised limits with immediate effect.

According to the notification, a person can now transfer up to Tk 50,000 daily to another personal number, double the previous limit of Tk 25,000.

The monthly transaction limit has also been raised from Tk 200,000 to Tk 300,000.

For cash-in at agent points, the daily limit has been increased to Tk 50,000 from Tk 30,000, while the monthly limit has been raised from Tk 200,000 to Tk 300,000.

However, the daily limit for bank transfers in cash-in remains unchanged at Tk 50,000.

In terms of cash-out at agent points, customers can now withdraw up to Tk 30,000 daily, up from Tk 20,000.

The monthly limit has also been increased from Tk 150,000 to Tk 200,000.

Meanwhile, the daily and monthly limits for cash-out via bank transfer, both bank accounts and cards, remain unchanged at Tk 50,000 and Tk 300,000, respectively.

A senior official of Bangladesh Bank told bdnews24.com that customers have become increasingly accustomed to MFS platforms, necessitating an increase in transaction limits.

"MFS transactions have been growing, and we expect them to rise further. Considering all factors, the limits have been raised accordingly," the official said.