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The facility of interaction between providers of mobile financial services (MFS) will be launched from next Tuesday. As a result, from now on, mobile banking service providers like bKash, Rocket, Cash, UCash will be able to transact with each other. In addition, transactions between banks and MFS can also be carried out.
The Bangladesh Bank has issued a notification in this regard.
For a long time, money could be sent from one bank to another, that is, from one bank to another, but this facility was not available in mobile banking. That is, bKash clients could not send money in rocket or cash, rocket clients could not send money in bKash or cash or ukash, cash clients could not send money in bKash or rocket or ukash.
Now with the introduction of this feature in mobile banking, customers can easily send money from Bikash to Rocket or cash or Ucash, whatever they need. Also, you can send money from the bank to any mobile bank and you can also transfer money from the mobile bank as a bank. Bangladesh Bank has instructed that customers cannot be charged for this service. Also, the cost of withdrawing money remains the same.
So far, 4 banks and 4 mobile banking service providers (MFS) have joined the service. Bangladesh Bank has instructed others to join the system between transactions before March 31 next year.
In a circular, the Bank of Bangladesh said that it is working to implement transaction services between all banks and MFS institutions to reduce cash transactions in the country. Banks and MFS companies that have successfully completed the pilot activities will start trading from next Tuesday. Those who have not completed the preparation must start the service before March 31 of next year.
The notification also said that the money from the account of the MFS organization will go to the MFS organization, the company will charge the MFS remittance company at a rate of 0.80 percent of the amount traded. Similarly, in the event of money transfer from a bank account to MFS and from an MFS account to a bank, MFS will pay 0.45 percent of the transaction amount to the bank in question.
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