Regulatory Alerts2026-05-19
PSD-1 Circular No. 03: Regarding 'Add Money' from Card to MFS Personal Account
The Payment Systems Department-1 of Bangladesh Bank mandates that MFS providers implement a token transaction of up to BDT 500 for the initial card-to-account linking, which must be completed 24 hours before the card is activated for regular transactions. Providers are required to classify card-based 'Add Money' transactions as fund transfers rather than merchant payments and ensure the beneficiary wallet number is visible to the card issuer by July 31, 2026, or face a transaction block starting August 1, 2026. These directives apply to all MFS providers and scheduled banks, superseding previous token requirements for regular transactions after the specified date.
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