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2022-04-25

Added

PSD Circular No. 06: Regarding Refixation of Mobile Financial Services (MFS) Transaction Limit

The Payment Systems Department of Bangladesh Bank revises the transaction limits for individual Mobile Financial Services (MFS) accounts to encourage e-cash usage and accommodate increased demand. The new daily and monthly caps are set at 30,000 BDT for cash-in via agent points, 50,000 BDT for bank transfers, 25,000 BDT for cash-out, and 25,000 BDT for P2P transfers, with a maximum account balance of 300,000 BDT. MFS providers are permitted to set lower limits based on their internal risk assessments, and these changes take effect immediately.

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Payment Systems Department Bangladesh Bank Head Office Dhaka. 25 April, 2022 PSD Circular No. -06/2022 Date: ------------------------ 12 Baisakh, 1429

Managing Director / Chief Executive Officer All Mobile Financial Services (MFS) Providers operating in Bangladesh

Dear Sir,

Regarding Refixation of Mobile Financial Services (MFS) Transaction Limits.

Mobile Financial Services (MFS) are currently playing a significant role in the country's overall payment system. In the context of the COVID-19 outbreak, along with the expansion of the scope and coverage of MFS transactions, government initiatives, education, social safety net financial assistance, and other programs provided through this medium have increased significantly. At the same time, the propensity to use MFS among the low-income population has increased at a notable rate. Therefore, considering the continuous demand for MFS and the goal of encouraging e-cash, it is necessary to refix the transaction limits for individual MFS accounts.

  1. In view of the above context, the transaction limits for individual accounts in Mobile Financial Services are hereby refixed as follows:
ServiceFrequencyMaximum Amount (BDT)
1. Cash-in
Agent PointDailyApplicable
Monthly30,000/-
Bank Transfer (Bank Account and Card)Daily50,000/-
Monthly3,00,000/-
2. Cash-outDaily25,000/-
Monthly1,50,000/-
3. P2P (Person to Person)Daily25,000/-
Monthly2,00,000/-
4. Account Balance---3,00,000/-

However, MFS provider institutions may determine the transaction limits for their respective institution's customers not to exceed the above limits based on their institution's risk analysis.

  1. Furthermore, other instructions contained in PSD Circular No.-01/2019 issued on 19/05/2019 shall remain unchanged.

This directive shall take effect immediately.

Yours faithfully,

(Md. Majibur Rahman) General Manager Phone: 9530174

Ref: Services Number (Maximum) Maximum Amount (BDT)

  1. Cash-in Agent Point Daily Applicable 30,000/- Monthly 2,00,000/- Bank Transfer (Bank Account and Card) Daily 50,000/- Monthly 3,00,000/-
  2. Cash-out Daily 25,000/- Monthly 1,50,000/-
  3. P2P Daily 25,000/- Monthly 2,00,000/-
  4. Account Balance --- 3,00,000/-
Topics
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