Regulatory Alerts2026-05-19
Added · Updated
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.
More like this from BB
BB published 18 documents in the last 30 days. We email you each new one the day it's published.